At the end of the year, the number of bankruptcies filed in 2008 finally reached a definitive amount. It comes as no surprise that that amount was incredibly high.

Chapter 7 filings came to a total of 7,333 at the end of the year, up 31% from 2007. As for business filings under Chapter 11, there were 130, over double the number from 2007. Even with these high numbers, experts are expecting even more filings for both Chapter 7 and Chapter 11 in the first two quarters of 2009.

Bankruptcies are becoming a reality for more and more people. When this happens, it is good to know that you are in good hands. If you are considering bankruptcy, contact the Boston bankruptcy attorneys of Joshua Spirn & Associates at 800-975-5346.