Wednesday, January 27, 2010

Desperation is the Current State of the Union

That is the message Reed Allmand member of the National Association of Consumer Bankruptcy Attorneys is passing along to Congress on behalf of his clients.

Washington, DC (PRWEB) January 28, 2010 -- On Wednesday, January 27, 2010. Washington was alive with anticipation for president Obama's first State of the Union address. However behind- the-scenes Reed Allmand, a member of the National Association of Consumer Bankruptcy Attorneys, was there with other bankruptcy attorneys to remind elected officials about the stories they hear from their client’s everyday regarding the real current state of the union.

Reed Allmand said, “We are here to speak up for those who cannot speak for themselves, our clients, who turn to bankruptcy as a last resort to save their homes."

Since July 2007 up to August 2009, 1.9 million homes have already been lost to foreclosure.
Last year Reed traveled to Washington with his fellow NACBA members to lobby Congress to support the bankruptcy Mortgage Modification Bill.

That bill, if passed, would have given bankruptcy judges the power to modify the terms of consumer mortgages and stop the flood of foreclosures. Although the bill passed the house last year it didn't survive the pressure from the banking lobby in the Senate and was defeated.

Since July 2007 up to August 2009, 1.9 million homes have already been lost to foreclosure. The experts are all predicting that the foreclosure problem will only get worse when you consider that currently 1 out of every 10 homeowners are late on their mortgage.

When asked why he would make the trip to Washington one year later with no current bill pending before Congress he said, "It's simple my clients still need help and they can't afford to make the trip to Washington to ask their elected officials themselves, so I feel compelled to do it for them."

W. Reed Allmand is a Board Certified Consumer Bankruptcy Attorney and partner in the law firm Allmand & Lee. He has been practicing for 9 years and has handled more than 5,000 bankruptcy filings. He is also author of the book, “The Truth about Bankruptcy.” For the past several months, Allmand & Lee has filed over 300 bankruptcies per month. Allmand & Lee has offices in Dallas and Hurst. To speak with Mr. Allmand or to schedule an interview, please call (214) 265-0123 or visit us at http://www.allmandandlee.com/ .

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[Via Legal / Law]

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