Arizona, Phoenix Bankruptcy Filings Drop in February

Put simply, Arizona has been hammered economically for years at this point, which means that any shred of positive news will be welcomed by those who live here. While economic news all needs to be processed in a relative sense these days, the state did see some positive indicators when the statistics regarding Phoenix bankruptcy filings and Arizona bankruptcy filings were released. The numbers showed that there were fewer filings in February of 2011 than there had been during recent time frames.

The metropolitan Phoenix area recorded just over 1,800 bankruptcy filings in February, which represented a 12 percent decrease from February of 2010. In addition, the Arizona bankruptcy filing statistics indicate that 2,440 cases were filed, which represents a 10 percent decrease from the previous February. It also represents the lowest number of Arizona bankruptcy filings in one month since the peak was hit in March of 2010 when over 4,100 new cases were filed somewhere in the state.

While this is certainly a positive indicator, recent Arizona bankruptcy statistics have also shown that one good month is far from a trend. There have been months in the recent past that have indicated a drop in filings only to see the next month involve a much higher number of new Arizona bankruptcy cases. In addition, as long as the jobs market and the real estate market remain mired in turmoil, any long-term economic recovery for Arizona will be extremely difficult for many reasons.

Arizona Bankruptcy Lawyers

Even though the number of Arizona bankruptcy filings dropped last month, there are still many people who have been damaged by the recession to the point where they need a fresh start. That can almost always be accomplished when someone takes the difficult first step of seeking qualified professional help to plot a course to recovery. Almost every financial situation, no matter how difficult or complicated, can be solved with the proper help and with the proper focus and diligence.

If you are ready to put your financial struggles behind you once and for all, seek the help of Arizona bankruptcy lawyers who have been helping people regain control of their lives for many years. The Phillips Law Group recommends the experienced bankruptcy attorneys atArentz Law Group PLLC for all of your bankruptcy needs. Call today to schedule a free initial consultation!

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