Released on = December 10, 2005, 9:23 am

Press Release Author = David M. Siegel & Associates

Industry = Internet & Online

Press Release Summary = Many consumers believe that the right to file bankruptcy has
been eliminated. Bankruptcy lawyers are handling fewer inquiries from debtors since
10/17/05. Six factors may lead to an increase in future filings. Debt causing
economic factors are still evident.

Press Release Body = FOR IMMEDIATE RELEASE
12/12/2005

Chicago Consumer Bankruptcy Law Firm Experiences 44% Drop In Bankruptcy Inquiries
Since Law Change

Many debtors believe that the option to file for bankruptcy has been eliminated by
the sweeping reform that became effective 10/17/05. The confusion is partly caused
by bankruptcy lawyers who have been touting for the past two years on television,
radio and print that \"time was running out\' to file bankruptcy.

David Siegel, an established Chicago bankruptcy attorney, states \"it could take
anywhere from six months to one year before bankruptcy filings rise to the
pre-reform level\". His consumer bankruptcy law firm handled 44% fewer bankruptcy
inquiry calls since the law change. There was also a decrease in internet inquiries
at www.bankruptcylawyerschicago.com. The trend seems to be universal as bankruptcy
lawyers throughout the country are reporting a drastic loss of new business.
Coupled with the new law requiring greater accountability for lawyers who assist
debtors, many lawyers have chosen to concentrate their practice in areas other than
bankruptcy law.

Six factors that can lead to an increase in future bankruptcy filings:
Credit card use and abuse. The holiday season will increase credit card usage beyond
the normal monthly credit card charges.
Rising mortgage interest rates. As rates increase, the default rates and
foreclosure rates increase.
Lack of health insurance coverage. The continuing cost of health care is crippling
those with and without coverage.
Divorce, job loss and disability. These unavoidable events will always contribute
to a greater debt burden.

It is evident that economic factors that have lead to record bankruptcy filings over
the past five years remain primarily unchanged. Thus, it is not a questions of if,
but only a question of when bankruptcy will become a viable option for consumers.

For More Information Contact:
Mr. David Siegel
davidmsiegel@hotmail.com
http://www.bankruptcylawyerschicago.com

Web Site = http://www.bankruptcylawyerschicago.com

Contact Details = Mr. David Siegel