Over the years, attorney Lawrence ‘D’ Pew has met with many worried individuals with spiraling debt problems. Even though they know that bankruptcy is the only way to put an end to bill collection, garnishment, repossession, foreclosure, and creditor lawsuits, many people still feel embarrassed, ashamed, or humiliated. Many feel they have failed themselves and their families. As though the national economy is their fault and they are the only ones who need to file for protection from creditors under the U.S. Bankruptcy Code. But that could not be further from the truth, and the truth is in the numbers.
National bankruptcy statistics reflect a worsening economy with bankruptcy filings increasing steadily almost everywhere in the country. In particular, Arizona’s bankruptcy statistics for the past several years mirror a continuing slowdown, an economy that has left many residents no other option than to file for debt relief through bankruptcy.
2007 Bankruptcy – Arizona Statistics
Total Bankruptcy Arizona Filings: 10,920.
Consumer Filings: 10,441 or 95.61% were consumer debtors.
Percent of Consumer Filings: 95.61%
Break Down of Consumer Debtors: Chapter 7 made up 78%; Chapter 13 made up 22%.
Per Capita Filings: 1.72 per 1000 people.
Rank: 40th among the states.
2008 Bankruptcy – Arizona Statistics
Total Bankruptcy Arizona Filings: 19,532.
Consumer Filings: 18,463 or 94.53% were consumer debtors.
Break Down of Consumer Debtors: Chapter 7 made up 81%; Chapter 13 made up 19%.
Per Capita Filings: 3.02 per 1000 people.
Rank: 29th among the states.
2009 Bankruptcy – Arizona Statistics
Total Bankruptcy Arizona Filings: 34,637.
Consumer Filings: 33,022 or 95.34% were consumer debtors.
Break Down of Consumer Debtors: Chapter 7 made up 83%; Chapter 13 made up 17%.
Per Capita Filings: 5.22 per 1000 people.
Rank: 15th among the states.
2010 Bankruptcy – Arizona Statistics
Total Bankruptcy Arizona Filings: 42,829.
Consumer Filings: 41,193 or 96.18% were consumer debtors.
2011 Bankruptcy – Arizona Statistics
First and Second Quarter Bankruptcy Arizona Filings: 18,726.
What should take from these statistics? If you have debt problems that are solvable only through bankruptcy, you are not alone! Although your circumstances are certainly unique and require careful evaluation by the Pew Law Center for the best bankruptcy solution – Chapter 7, Chapter 11, or Chapter 13 – you are not an isolated case. In the first six months of 2011, thousands of people suffering with long-term financial hardship have filed for bankruptcy protection in Arizona alone!
Lead bankruptcy attorney Lawrence ‘D’ Pew assures you that there is no shame or blame at the Pew Law Center. When you need information about debt relief and bankruptcy call us at 480-719-1479 and schedule your FREE Consultation. You can also contact us by email or chat online with a representative of our bankruptcy team any time or day – 24/7.
Pew has been an awesome firm to work with. They are very sensitive, even through a bankruptcy that was complicated by a decision to divorce in the middle of it. They are rofessional and efficient, but equally personable and a joy to work with. I could not ecommend them more highly!
Call (480) 745-1770 or fill out our contact form to get help from compassionate professionals. Stop worry and get help today.