Bankruptcy Trends 1986-2011

There are 4 types of bankruptcy filings; Chapter 7, Chapter 11, Chapter 12 and Chapter 13. Chapter 7 represents about 90% of all bankruptcy filings. This is the personal bankruptcy filing. This chart was produced to study any associative patterns with bankruptcy in conjunction with population and recession periods to see if there was any insight into what might come about in the future.

Does the number of bankruptcy filings follow consistently with the growth in population in the united states? It would appear so. However, if we look closer, the percentage of filings compared to population would suggest that it is increasing. In 1986 there was approximately 1.9 people out of every 1,000 filing for bankruptcy. In 2011 there was 5 people out of every 1,000. In 2006 where we had the highest number of filings to date it was like 6 out of every 1,000.

The population overlay shows a steady growth in population by roughly 3.5 million per year. However there was a sharp increase in the U.S. population between 1999 and 2000. According to www.balance.org this was because of a change in Census Bureau estimates between 1999 and 2000 and had a lot to do with trying to include immigrants.

There may be other factors to think about. Perhaps the increased use of credit cards is contributing to the overall percentage of people filing for bankruptcy.

Another striking effect on this graph is the sudden drop in bankruptcy filings between 2006 and 2007. According to uscourts.gov this is when many of the provisions of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) took effect

Riverside Bankruptcy Information

If you live in Riverside California and are contemplating filing bankruptcy, this directory can help you find a bankruptcy attorney near you. There are many bankruptcy attorneys in Riverside and they charge roughly between $800 – $1500. Some offer payments plans in order to cover their fees. Also there are court filing fees which are often separate from the fees charged by the lawyer.

There are different types of bankruptcy filings. Chapter 7 is used to discharge all unsecured debt as well as stopping wage garnishment, vehicle repossession and foreclosure. This puts a stay on all proceedings and by law creditors are not allowed to harass you. There are many state exemptions that allow you to keep the bare necessities so that you can start over. Many times this means you can keep your car and your house. There are also some debts that are not covered with Chapter 7 including child support, school loans and tax debt.

Chapter 13 filings are used for reorganizing debts. Payment plans can go from 36 months to 60 months. In this type of filing some debts are discharged while others are payed back through a non-interest consolidated payment plan. There are some advantages with this type of filing as it helps you keep your assets because you are agreeing to a payment plan. Also you can consolidate and often reduce the total debt while including tax debt and student loans which you would not be able to discharge in a  Chapter 7. Fees are a little more as this type of filing is more complex. Small business and wage earners often use this filing.

A bankruptcy filing will stay on your credit report for 10 years.

Riverside County Superior Court

If you reside in Riverside county California and you have a legal issue chances are you will be dealing with the Riverside County Superior Court as this is your jurisdiction. The court locations include Banning, Blythe, Corona, Hemet, Indio, Moreno Valley, Murrieta, Palm Springs, Riverside and Temecula.

Typically you will be going to the court house near you to dispute issues in the areas of civil, criminal, divorce, child custody, probate, small claims and traffic violations. You can also pay fines at the court house.

Other services include searching public records or court cases. They have self-help areas both at the court house and online where you can find the proper forms and procedures to assist you if you don’t have a lawyer.

If you get called for jury service chances are you will meet at one of the court houses in the Riverside county court system. You can go online to their website to check if you are dismissed.

All and all the justice system is a publicly available tool that you can use for disputes as well as defending your rights as a citizen of Riverside county.

Riverside Area of Practice Density Chart

There are roughly 450-500 lawyers practicing in Riverside California. We have constructed an Area of Practice Density Chart to examine how the practice areas are divided. The accuracy is about 95%, but more important, in general terms, it gives us an idea of which area of practice is more popular.

If you are considering law school and are looking to set up a practice in Riverside, this chart may give you an idea of how much competition you will get in any given area of practice. For example, the top two areas of practice that are the most popular are Real Estate Law and Family Law. It would take more research as to why these are the most popular areas. Are they more lucrative? Is there more demand?

It is a shame that no one in Riverside is practicing Environmental Law. Choosing this area of practice would give you absolutely no competition. However, there may not be any demand for that area of law.

For anyone looking to get away from the competition, Immigration and Intellectual Property Law might be worth pursuing.

Riverside Lawyer Density Map

Some of you are thinking, “Where are all the lawyers in Riverside California?” We had that same question too. So we devised this Riverside Lawyer Density Map to show where they are. The map was constructed using data from Google Maps and Lawyer.com. When studying maps and statistics we get a chance to see how areas relate to one another. This map is using zip code data within the city boundaries of Riverside. The darker the shading the more lawyers have addresses in that zip code.

The map shows us that most of the lawyers are in downtown Riverside which is of no surprise because this the oldest and most developed part of town. If the number of lawyers are a good indication of the degree of business activity, this map suggests that downtown Riverside would be the best place to start for establishing business. We can assume that most lawyers have a separate business address and that very few operate their practice from home. If this is so, the map suggests that the lighter areas are more residential.

The second most lawyer dense area in Riverside is just south of downtown in neighborhoods like Wood Streets, Magnolia Center, Victoria and Canyon Crest. This area is dense with a mixture of residential and business. There is a chance that if live in this area that a lawyer that you are looking for is in the same neighborhood.