Rochester readers might be surprised to learn that there has not been a dramatic increase in bankruptcies in the region during the first month of the year. According to a recent article published in a local business journal, this area had not significantly reduced the number of bankruptcy filings.

According to the regional journal article, the total drop was less than 1 percent compared to the number of bankruptcy filings in Jan. 2011. These filings included consumers filing for a Chapter 13 bankruptcy.

The number of bankruptcies reported for the Rochester federal courts was 152 as compared to 153 in Jan. 2011. The following counties are included in the Rochester region -- Monroe, Ontario, Livingston, Wayne, Seneca, Yates, Steuben, Schuyler --- per the report.

Consumers might like to know that these filings were most commonly Chapter 7 cases (110 of all 152 cases), followed by 41 Chapter 13 cases. As the article explains, a consumer who files for Chapter 7 requests permission to liquidate assets. Bankruptcy filers of Chapter 13 will create a plan to either fully pay or partially pay debts in monthly installment payments.

A Chapter 13 bankruptcy is one of the types of federal bankruptcy cases that an attorney might recommend. For some consumers just like you, filing a bankruptcy case can mean getting out from underneath staggering debt while helping you to maintain your primary focus on the goal of saving your home.

Protect yourself and your family and keep your home by exploring the legal options, such as restructuring or liquidating your consumer debt.

Source: Rochester Business Journal, "Rochester region's bankruptcy filings flat in January," David Harper, Feb. 2, 2012