South Florida Business Bankruptcies Highest Since at Least 1990

Over 1,400 businesses filed for bankruptcy in the United States Bankruptcy Court for the Southern District of Florida in the year 2008 and it is an 80 percent increase from 2007. Only 778 businesses filed for bankruptcy in the South Florida area in 2007. The 1,403 businesses to file for bankruptcy in 2008 is the highest number of bankruptcies since 1,138 were filed in 1992, which was the state's previous high. The website for the U.S. Bankruptcy Court does not post figures prior to 1990.

Consumer filings of 18,826 occurred in 2008, which was a 71.5 percent increase from the 2007 filing year. In 2005 the filing numbers were a record high of 35,983. Bankruptcy has become a common occurrence throughout the United States in the past year and a half with thousands of businesses closing their doors because they are out of money and simply cannot continue to operate. For any individual filing for bankruptcy in 2009, contact the law firm of Warren Law for expert legal counsel today.