Bankruptcy attorney Joe Lamb also sees repeat filers keeping dockets busy down the road.
“A lot of people are marking the time until they are eligible to file,” said Lamb. “I’ve seen more previous filers coming in than I have before.”
Overall, Lamb said he is seeing fewer clients than he did last year.
He still expects continued demand from individuals who got temporary loan modifications on their homes and now face a return to their regular mortgage payments.
“What some programs will do is reduce the payment from $2,000 to $1,200 a month for the next two years. Now coming up on the two-year mark, have they recovered enough financially, or are they right back where they were?” Lamb said.
Then there are those who are turning to bankruptcy after months of haggling with lenders only to have the modification be denied.
“I think as loan modification programs start to bear less and less fruit, there might be a slight uptick,” Lamb said.
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