Are Washington State Consumers Headed for Bankruptcy in 2018?

With the stock market and the economy at an all-time high, how are Washington state consumers really doing day today and are consumers headed for bankruptcy in 2018? As a Seattle bankruptcy attorney, I have a good idea of how every day Washingtonians are doing in the current economy. While Seattle has grown in size and wealth in the last 5 years, so has the cost of living, driving many consumers to pick up and move or file for bankruptcy just to stay afloat. Recent national statistics and economics support a theory that the economy simply cannot keep going the way it is going forever. In fact, in the last 5 years wages have remained stagnant, while most types of debt ballooned out of control. Prior to the financial crash, there was a 65% percent increase in overall debt, mostly attributed to mortgage accounts that consumers could not afford, while there was not a whole lot of growth in other debt areas according to the Bureau of Labor Statistics. After the financial crash of…

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