Metro Phoenix Bankruptcy Filings Hit All-Time Record | Legal News | News Ticker
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- Metro Phoenix Bankruptcy Filings Hit All-Time Record | Legal News | News Ticker
Most people fully understand that the economy in Phoenix and in all of Arizona is suffering. The local economy continues to struggle badly even as signs on a national scale begin to point to a slow recovery process. One of the most direct ways to measure the state of an economy is by way of bankruptcy filings, and recent statistics released by the American Bankruptcy Institute indicate that Phoenix-area bankruptcy filings so far in 2010 have already set an all-time record with another month of statistics yet to be added to the overall total.
According to the institute, more than 2,500 bankruptcy filings were initiated in Phoenix in November, which brings the total from January through November of this year to almost 29,000. This surpasses the over 28,000 filings made in 2005, which was a unique year because of the passing of new, tougher bankruptcy laws in that Congress. In addition, approximately 80 percent of the filings so far this year, or approximately 25,000 were filed under Chapter 7 of the United States Bankruptcy Code. Chapter 7 filings can be done by businesses, but most often this chapter is used by individual consumers.
Arizona Bankruptcy Statistics
In addition to the troubling numbers regarding Phoenix bankruptcy cases, Arizona as a whole is also struggling. During the same time frame, more than 38,000 bankruptcy cases have been filed. This once again excludes December, which means that 2010 will almost certainly surpass the statewide total from 2005 of just over 39,000. On a national scale, the number of bankruptcy cases filed around the country fell by 13 percent between the months of October and November.
Arizona Bankruptcy Lawyers
What this news should tell anyone who is struggling with their finances is that they are far from alone in their suffering. If you find yourself simply unable to meet your monthly obligations, you need to take the all-important first step towards putting an end to this ongoing stress and fear. Seek the help of experienced Phoenix bankruptcy lawyers who have helped thousands of people obtain a fresh financial start. ContactPhillips Law Group today to schedule a free initial consultation.
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Great experience! Took care of pretty much everything, and I always felt like I want in good hands. Caroline Fa. was also a great help with everything. She always returned my calls and I never felt unheard. Even after my case she would still help me with my insurance documents.
My Attorney Sean Davis and his paralegal Hannah Dustin worked on my case. They listened to the problems that I was having with my case and they both got right to work. First they found me a doctor that actually listened to my problems from my car accident and worked quickly to form a plan that was comfortable for me and the doctor. The doctor was the best and after a couple of procedures the pain in my neck was gone. Behind the scenes Sean and Hannah were working hard to get my case settled with the insurance company. They kept in contact with me on all aspects of my case. They settled my case much faster than I expected and for more than I was expecting. If you want two real professional legal people to work on your case, I would highly recommend Sean and Hannah to you. I cannot say enough nice things about these two. Thank you so much, Rickey Hart .
I would like to send special thanks to Phillips Law Group for giving me the opportunity to be a part of the Best Law Firm here in the Valley. During these troubling times with the epidemic, Phillips Law Group has masterfully created this family-like environment while still maintaining a professional and business-like approach for all their clients. Thru impeccable leadership that is unmatched by other law firms to the Multi-diverse employment opportunities that many employees advance within the firm; Phillips Law Group has not only distanced themselves from all other competition in the Personal Injury field but also has innovatively changed the narrative of being a great law institution. From providing Employee Appreciation Day to celebrating all major Holiday including great competitive contests; Phillips Law Group has the total participation of all employees to help contribute to the continued success of this firm. So in closing I would like to thank Senior Administration (Jeffery Phillips, Eva Chiaramonte, and Tim Tonkin) along with all of my colleagues and many friends for help making Phillips Law Group a unique and wonderful place to call my place of employment for 6+ years.
They knew exactly how to explain the case to me in a way that I would understand it. They gave me hope that my life wasn’t over.
The lawyers here are of top quality. Especially Trey Dayes, who was always respectful and hard-working.
Jon Jamieson was amazing to work with . He came through with all of his promises.
If you are in need of legal support for a motor vehicle collision of any kind, I highly recommend going to Phillips Law Group Injury Lawyers. Sean Davis has exemplary knowledge and experience in this field, compassion for his clients, and excellent judgment and communication skills.
Phillips is the best!! Love all that they do to give back to the community and how much they help those who are experiencing homelessness. ❤️
I would like to thank Vanessa Rodriguez for helping me with my case because I was in total shock about the accident. She had listened to all my concerns and had answered every question I had . She was great !!!
Phillips law group has an amazing staff and i recommend them to everyone.