Archive for the ‘Arizona’ Category

Arizona Bankruptcy Rates on the Rise

The United States Bankruptcy Court, District of Arizona, maintains bankruptcy statistics for all cases filed in Arizona.  The state of Arizona is listed as one of the top five states being hardest hit by both the mortgage crunch as well as the soft housing market.  Even though unemployment is lower than the national average, bankruptcy cases in Arizona have risen dramatically from 2006 until 2007.

In January 2006, there were 162 chapter 7 bankruptcies filed in the Phoenix court, 42 filed in the Tucson court and 8 filed in the Yuma court for a total of 212 chapter 7 bankruptcies.  In January of 2007 these numbers saw a dramatic increase.  The Phoenix court system processed 273 chapter 7 bankruptcies which represented a 68.5% increase.  In Tucson, the number jumped to 106 cases in January of 2007 equaling a 152.3% increase of January 2006.  In Yuma, the increase was even more staggering at 287% jumping from 8 to 31.  When comparing January 2006 to January 2007, chapter 7 bankruptcies filed in Arizona increased 93.3%.
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Posted in Chapter 7 Bankruptcy, Arizona |