According to the U.S. Court System databank Chapter 13 bankruptcy filings have increased for the fifth year in a row.

During the previous year alone there was an increase of 8% to 438,913 filings from 407,000 the year before. The 9th Judicial District posted the highest number of filings across the country at 87,760; this sector includes Montana, Oregon, Nevada, New Mexico, Washington, California and Arizona.

Individuals who successfully file for Chapter 13 bankruptcy can arrange for a restructuring of their finances that will allow them to pay back debts over a longer period of time. This is of great importance for many who are in danger of losing their home to foreclosure.

Chapter 13 bankruptcies come just second to Chapter 7 filings, the latter of which allows individuals and companies to completely liquidate their assets to pay off debts.

If you are in danger of losing your home there is no time to waste in contacting a Houston bankruptcy attorney today. Learn more about how Chapter 13 bankruptcy can help you now.