United States Consumer Bankruptcy Filings Way Ahead of Last Year’s Rate | Legal News | News Ticker

Everyone understands that the American economy remains mired in a recession that seemingly has no end, despite the proclamations of experts that the recession is over and things are improving. The fact of the matter is that the variables that most define the state of the economy for individuals – jobs and the real estate market – remain in terrible shape. This leads to serious financial problems for many people, and those who are experiencing this type of stress need to understand that they are far from alone, as you’ll see below. Those who want to take steps to put an end to their financial troubles should seek the help of experienced Arizona bankruptcy lawyers.

2010 United States Consumer Bankruptcy Filing Statistics

The latest news to hit the wire concerning the ‘real-world’ state of the American economy comes from the American Bankruptcy Institute, an entity that tracks trends and statistics regarding American bankruptcy cases. According to their data, almost 1.2 million consumer bankruptcy petitions were filed with United States Bankruptcy Courts from January 1st of 2010 through September 30. This number of filings surpass the number of consumer bankruptcy cases filed within the same time frame from 2009 by 11 percent, and 2009 was supposed to be the ‘worst’ of the recession. The institute forecasts a total number of consumer bankruptcy filings to meet or surpass 1.6 million cases by the end of the year.

How Arizona Bankruptcy Lawyers Can Help

Even though so many people share the unfortunate circumstance of enduring financial stress, no two financial situations are ever exactly alike. Therefore, those who find themselves in this situation need to take the all-important step of meeting with an Arizona bankruptcy attorney to fully review their financial situation. This analysis may present options that either include or exclude bankruptcy in furtherance of finding a way out. However, it all starts with a plan, and those who are ready to move forward and put an end to this situation should contactMontano Arentz & Associates, PLLC today to schedule a free initial consultation.