Experienced bankruptcy attorneys in Maryland offer insight on how the economic climate, along with changes to important regulations, and updates to the interest rate by the Fed, all may impact the everyday individual
Bethesda, MD -- (ReleaseWire) -- 12/01/2016 --The latest meeting of the Federal Reserve was held at the end of September, and its leaders opted to once again not raise the interest rate, sparking increased concerns of a sluggish economy and a worsening outlook. With a combined 40 years of experience, the seasoned Maryland bankruptcy attorneys Robert K. Goren and Brian A. Tucci of Goren & Tucci, LLC, advise of the impact and meaning of this development.
This decision had been expected by the Fed, yet still comes as a disappointment to those looking for signs of forward and positive economic momentum. In conjunction with this, the Fed also decreased its projections for economic growth for the year, lowering the figure to 1.8%. This is the third time this year they downgraded the existing forecast of growth.
"The latest decision we saw from the Federal Reserve merely reflects what we've been seeing everyday in our offices, speaking with concerned clients battling with foreclosure, bankruptcy, mounting debt, and other severe financial conditions," said Maryland bankruptcy attorney Robert K. Goren.
"The ongoing news story of a still struggling economy doesn't seem to have as much flash or garner as many headlines right now, but the reality on the ground level has unfortunately never changed for many hard struck American families and individuals," said Maryland bankruptcy attorney Brian A. Tucci.
While the economy is still in growth, an extended run of this low sluggish growth makes it difficult for both businesses and individuals to actually make progress. It also leads to changes in both investment and savings strategies, which in turn also impact any person's financial flexibility.
"The truth, particularly here in Maryland where the foreclosure rate is the highest in the country, that the long-awaited relief and recovery of the economy never fully took root for many people," added Mr. Tucci.
Goren & Tucci is well-versed in all aspects of bankruptcy representation and legislation, along with alternative means of financial relief. With four Maryland bankruptcy law office locations, they are conveniently situated to serve individuals across Montgomery, Frederick, and Prince George's Counties, and also work with clients who reside in Washington, D.C., and Northern Virginia.
Visit GorenTucciLaw.com for more information about their services. Call 301-977-4300 to speak with a representative and to schedule a free bankruptcy consultation in Maryland.
About Goren & Tucci, LLC
Goren & Tucci, LLC, is dedicated to providing real solutions for individuals and businesses who are facing financial difficulties or burdens of any variety. They are a full-service bankruptcy firm. Attorneys Robert K. Goren and Brian A. Tucci, have a combined 40 years of bankruptcy experience. The firm provides debt relief services, and helps individuals and businesses file for bankruptcy. All aspects of debtor representation are provided, including bankruptcy litigation, filing Chapter 7, 11 & 13 bankruptcy, and non-bankruptcy solutions, alternatives and services. Call 301-977-4300, or visit GorenTucciLaw.com for more information.