South Florida Bankruptcy Lawyer

There is a proposed change in federal bankruptcy law that could end up preventing about 600,000 foreclosures across the United States. If passed, this bill would allow bankruptcy judges to lower mortgage debt.

There are people arguing against this bill, saying that this could increase the risk for lenders, thereby increasing the cost of credit. These people believe that the short term ramifications of the bill would include market instability. The long term effects would deny investors the confidence that they need to provide credit to consumers.

What is obvious is that bankruptcy and foreclosure have become a large problem across the country. If you or anyone you know is considering filing for bankruptcy, please contact the West Palm Beach bankruptcy lawyers of Eric N. Klein & Associates at 561.353.2500.