The end of year figures for bankruptcy is giving financial experts hope that the country will soon be financially healthy. Bankruptcy filings showed a six-year low in several areas of the country including Florida.

Across the country bankruptcies dropped 12.6 percent. In 2010 there were 1.56 million bankruptcies filed. In 2011, 1.38 million personal and business bankruptcies went through the legal system. Florida saw one of the greatest drops in bankruptcy filings. There were 93,000 filed in the state, a high figure but one that represents a 16 percent drop from the preceding year.

One financial expert attributes this decline to a decrease in consumer spending. With less money being put on credit cards and for loans, consumers curbed their spending in order to decrease their need to file for bankruptcy. A serious revamping of bankruptcy laws in 2005 also made it harder for individuals to file for Chapter 7 bankruptcy, the preferred chapter amongst non-business filings.

If you need help filing for bankruptcy in Texas, take the time to contact the Malaise Law Firm so you can have the help and representation a Houston bankruptcy lawyer from our office can offer.