Why I Don’t Have to Worry About Job Security

09 Oct Why I Don’t Have to Worry About Job Security

The local newspaper, the Binghamton Press and Sun-Bulletin recently had three articles of interest. The headlines were: “Foreclosures up between July, August,” “Borrowing jumps as credit card use rises,” and “Consumer confidence takes a dive…Latest Binghamton ranking is lowest in state.”

The foreclosure article stated that in my county foreclosures were up 85 percent from the same month last year, and were up 176 percent from the previous month. (Nationally, foreclosures were up 115 percent from the same month last year.)

The credit card article mentioned that consumers nationally have increased their credit card borrowing at a fast pace (up 5.9 percent in August) because they are increasingly turning to their credit cards to replace home equity loans as a source of ready cash.

The consumer confidence article told us that the region’s confidence was down 13% from the last quarter.

I don’t have to worry about my job security because I am a consumer bankruptcy attorney. I help people to file for chapter 7 (for those needing a fresh start), chapter 13 (for those needing to reorganize, stop a foreclosure, and/or protect their assets) and chapter 12 (for family farmers needing to reorganize). My phone has been ringing steadily from people who are beginning to panic about their financial situation.

Too many people wait too long to discuss their financial situation with a knowledgeable consumer bankruptcy attorney. Often they have used up otherwise exempt assets (property that would be protected in a bankruptcy), borrowed from family or depleted their retirement accounts. A word to the wise…don’t wait.

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Peter Orville is a bankruptcy lawyer in Binghamton, located in the Southern Tier of New York. He is a member and New York co-chair of the National Association of Consumer Bankruptcy Attorneys.
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