Attorney Robert Waud of ESSERLAW LLC was recently featured in an article in the Milwaukee Journal Sentinel. In this article, Wisconsin bankruptcy filings fall 8% in 2014 amid improving economy, Attorney Robert Waud talks about the recent decline in Bankruptcy and the economy.
Here is an excerpt from the article, written by Paul Gore :
Bankruptcy filings fell about 8% in Wisconsin in 2014, declining for a fourth consecutive year as the economy and employment have improved.
U.S. Bankruptcy Court records show 20,774 bankruptcy petitions were filed in the state last year, down from 22,630 in 2013. Great Recession-era filings peaked at almost 30,000 in 2010.
Nationally, there were about 910,100 bankruptcy filings in 2014, a 12% decrease from 2013. It was first time since 2007 the total in the U.S. dipped below 1 million, according to the American Bankruptcy Institute.
“I really do think we’re getting back to normal,” said attorney Robert Waud, of Todd C. Esser & Associates in Milwaukee.
Attorneys specializing in bankruptcy cases said there are fewer trades people, a group that was left without work when the housing market tanked and construction stopped during the recession, seeking bankruptcy today.