As recently reported in the Arizona Republic, new bankruptcy filings are on the rise in Phoenix area. Filings rose slightly from 1,999 in April to 2,080 in May — a 9-month high. This was the third increase since February. Job losses and underemployment appear to be key factors for filers. Additionally, it is expected that the number of new bankruptcies will increase throughout the year due to an expected rise in foreclosures.
The best way to determine if bankruptcy is appropriate for your situation is to consult with an attorney. At Udall, Shumway & Lyons, PLC, we understand the serious nature of this decision and we are committed to providing you with the information needed to feel confident that you are making the right choice.
If you are considering bankruptcy or have already made the decision to file, contact bankruptcy attorney Joel E. Sannes at 480.461.5307 to schedule your initial consultation.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding New Bankruptcy Filings Are On The Rise, or any other Bankruptcy matters, please feel free to contact Joel E. Sannes at 480.461.5307, or log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools and municipalities in Mesa and the Phoenix/East Valley.