And they say things are getting better. . .

[bk249]

Desprit....would you mind sharing what state you practice in?

[despritfreya]

I thank everyone for their input.

You know, I have represented debtors for over 20 years. I handled cases back in the mid 80's during the savings & loan debacle. It was bad then but that was nothing compared to what I am seeing now and have seen over the past 2 years. It breaks my heart when folks lose their jobs, homes and their dignity. Maybe that is why I have stayed in this area for so long. At least I know that when a person leaves my office he or she can see the light at the end of the tunnel. It may only be flashing, but it is a light that he or she did not see when they walked into my office.

To all of you who find yourselves on shaky financial ground just remember that "this too shall pass".

[scorpion35]

very sad.wheres the jobs that obama promised ?
he spent almost 1 trillion dollars of my,yours taxpayer money on bailouts .
good job mr president ,not

[Okieblue]

I'm also worried about what the new year will bring, tax wise, guess the good times are gone.

[angles]

Things should get at least a little worse over the next year and then hopefully better or even keel after that. I have done a ton of reading on the subject and it all points to the fact that the financial collapse of the US is directly related to our banks and the banking financial system. But I think we all know that. What also kills me is that Wall Street has to do well before it flows down to Main Street. For example, if the bank CEO is making millions (who really is worth that much anyway?), then he will feel comfortable investing in some Joe who is starting up a company, who in turn will hire people, and so on.

The system is really ridiculous. It all was a transfer of wealth from several middle-income people to a few very rich. Now the government steps in to save us by propping up these companies with tax money. We pay that too. I am so discouraged with all of this. There really is no integrity in our financial system.

So where is it better? Nowhere really. But some areas are doing better then others. TX seems to have a low unemployment rate, and so does a few other states.

[sidhesadie]

yesterday or the day before, news said new unemployment claims are at their highest point in X months (can't remember exact number, but it was quite a few) and foreclosures are up as well.
Yep, things are getting better and better.

[spidge]

Quite sad, but why? What's driving this? Is it unemployment, inflation, higher taxes, dependence on cheap labor,.....?

Tough situation for everyone including individuals and companies. As much as I would like to bash my employer I know they are struggling to stay profitable yet competitive.

All I know to do is keep steady and muddle through the rough patches, but I do think many companies are abusing their labor forces. I would like to see double time after 10 hours in a day to curb some of this and keep everyone on an even playing field. I love those double talking middle managers and executives that talk up balance in life and are only referring to themselves.

I think I'll get off the soap box now.

[SMinGA]

I agree that 'sad' is a good word for the general state of things. And I agree with you (not media) that its too soon to say things are getting better. Things are better for some - like those who have been able to rebuild after BK. I don't mean rebuild credit, but rebuild their finances with the help of BK to get rid of unsecured debt and/or unaffordable living arrangements.

[despritfreya]

Just wanted to say this to all. . .

The news media claims our economy is getting better. I would like to know where. I just filed a Chapter 7 for a client. I then went back exactly 1 year to see how many cases had been filed on this date in 2009. Well, guess what. . .

In my jurisdiction the case I filed this morning has a case number that is 6000, get that 6000 higher than the last case filed this date in 2009. Guess the economy is really getting better.

How sad.