Despite the fact that Arizona has been particularly hard hit with the recession and a struggling housing market, Phoenix actually reported a drop in bankruptcies in July– making it the fourth month in a row that filings dropped. Four in five Valley bankruptcies in Arizona are Chapter 7, with the majority of the remainder being Chapter 13.
Despite this moderately good news, bankruptcy filings for this July were still up 11% over July 2009. And observers expect bankruptcies to climb back up after the summer, noting a recent increase in foreclosure filings; foreclosures usually predict future bankruptcies more accuracy than the unemployment rate.
A home is usually the asset families struggle the hardest to keep, and homeowners often neglect other debts in favor of paying their mortgage. When they simply can’t make the payments anymore, filing for bankruptcy protection is the next logical step.
At The Pew Law Center, PLLC, we believe that your life shouldn’t be defined by debt. We have helped hundreds of people just like you find the relief they deserve from harassing bill collectors, paycheck garnishment, foreclosures proceedings, and – most importantly – the constant worry about money and what to do about your debts.
We are a dedicated debt relief law firm. We help people from Phoenix, Mesa, Gilbert, Queen Creek, Chandler, Scottsdale, Apache Junction, Tempe and throughout Arizona file for bankruptcy or work through tough tax problems every day. We can help stop the debt cycle and give you relief from your overwhelming, burdensome, and crushing debt. Please don’t wait another moment. Call us right away – our attorneys will help get you the fresh start you deserve.