Richard Burnett, financial writer for the Orlando Sentinel quoted me in this front page article published May 17, 2012, about the decreasing number of bankruptcy filings. My quote is part of a much longer discussion about bankruptcy trends which I have observed both in my practice and as editor of this blog. This bankruptcy blog is a good leading indicator of bankruptcy filings.
Although I practice bankruptcy in central Florida only, blog readers are located throughout the state. Blog readers and those who call me about blog posts mostly are people looking for general information about Florida bankruptcy. The majority of these blog readers are not yet shopping for bankruptcy attorneys.
During the years 2007 through 2010 I observed a large increase in blog readership as the financial crises exerted its impact on individual families. That higher level of readership corresponded to record numbers of bankruptcy petition filings in the Orlando Division and throughout the state. This year, my blog readership is down significantly which correlates to the decrease in bankruptcy filings Mr. Burnett discusses in his article. I have spoken with bankruptcy attorneys in several different Florida cities who have each reported a fall off in their bankruptcy business.
I can report that my current month’s blog visit statistics show that readership is still trending downward, and therefore, based upon past experiences, I believe filings will continue to go down throughout this year. I am not going to speculate the reason. I have heard many theories from attorneys and others who are not economists, and I do not think the economist know for sure why bankruptcy filings fluctuate as they do.