North Huntington, PA, August 01, 2011 --(PR.com
)-- Executives at ADMA Solutions, a Pennsylvania-based debt resolution company are alerting consumers to the declining bankruptcy rates, despite high unemployment.
According to the American Bankruptcy Institute (ABI), consumer bankruptcy filings fell eight percent in the first half of 2011.
"While the economy may take years to fully recover, it is important to track trends and figures," explained ADMA Solutions President Amy Michalo-Rojas. "And no matter how you look at it, a declining consumer bankruptcy rate is definitely a good sign."
Consumer bankruptcy filings for the first six months of 2011 totaled 709,303, compared to 770,117 bankruptcy filings during the same period in 2010, according to ABI figures. June 2011 filings totaled 119,768, a 5% decrease from the 126,270 filings in June 2010.
Michalo-Rojas emphasized that declining bankruptcy rates may not indicate a recovering economy, especially considering continued unemployment. Unemployment actually rose slightly to 9.2 percent in June, and almost half of the 14 million jobless Americans have now sought work for six months or longer, according to the Department of Labor.
"These seemingly contradictory statistics reveal that struggling Americans may be finding relief in bankruptcy alternatives, such as debt settlement," she explained. "Debt settlement has become an increasingly established alternative to bankruptcy at a time when Americans need the most help."
Debt resolution services have grown in popularity over the years, which has led to an increase in regulation of the debt settlement industry, a step welcomed by companies like ADMA Solutions.
To learn more about how ADMA Solutions visit ADMAdebt.com.
About ADMA Solutions, LLC
ADMA Solutions, LLC, is a debt resolution company providing credit card debt relief and debt settlement services to consumers who have significant financial or personal hardships. For more information call 1-888-499-ADMA (2362) or visit www.ADMAdebt.com.