Keeping An Eye On Bankruptcy In San Antonio

Keeping An Eye On Bankruptcy In San Antonio

San Antonio is the second largest city in the state of Texas, with a population of almost 1.3 million people; the city is the seventh largest city in Texas. San Antonio is the name of former National Basketball Association Champions, the San Antonio Spurs. The economy largely flourishes in the financial services sector, government arena, health care field and tourism. With more than 89,000 employees in the defense industry, San Antonio is home to one of the largest military concentrations which offers a lucrative impact of approximately 5.25 billion dollars to boost the city's economy. In addition to a profitable defense industry, San Antonio is also where many successful companies like Toyota, AT & T, CitiGroup, Lockheed Martin and Valero Energy Corporations operate their main or regional headquarters. By most outsiders' accounts, the city of San Antonio is faring quite well, but to a San Antonio bankruptcy attorney things are a little different. A San Antonio bankruptcy attorney most likely analyzes trends and patterns surrounding bankruptcy filings in their state. Over the past three years, the personal bankruptcy rate has been steadily climbing. A wise San Antonio bankruptcy attorney keeps a very watchful eye on these things as it can influence the direction of his or her caseload. In 2007, there were a total of almost 42,000 personal bankruptcies filed in the state of Texas. Of that number, 44% elected to file under a chapter 7 while the remaining 56% decided on a chapter 13. In 2008, by comparison, approximately 44,000 personal bankruptcy cases were filed in the state of Texas. This time about 49% of that number filed a chapter 7 while the remaining 51% filed under a chapter 13. In 2009, there were almost 55,000 personal bankruptcy filings. Of that 55,000, about 52% filed under a chapter 7 while the other 48% filed under a chapter 13.

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