The Final Numbers are In: 2010 a Record Year for Phoenix Bankruptcy Filings | Legal News | News Ticker
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- The Final Numbers are In: 2010 a Record Year for Phoenix Bankruptcy Filings | Legal News | News Ticker
We’ve been tracking the bankruptcy statistics throughout 2010 in both Phoenix and in Arizona overall, and as expected, 2010 turned out to be the worst year ever in Phoenix in terms of Arizona bankruptcy filings. The last year surpassed the previous record that was set in 2005, although that number was somewhat artificial because of the changes made in bankruptcy laws that prompted many people to file under the older and less stringent guidelines. What’s perhaps most unfortunate is that it’s likely that thousands of people in and around Phoenix will once again need the help of an Arizona bankruptcy lawyer in 2011.
According to court records, more than 31,000 Phoenix area households filed for some form of bankruptcy protection in 2010. This number represents 3,000 more than the previous record of 28,000 that was set in 2005. The trend is expected to continue in 2011 as the economy in Arizona and in the western United States overall continues to suffer and lag behind other areas of the country. There are several reasons as to why the number of Arizona bankruptcy filings in and around Phoenix is expected to remain high.
The most obvious reason for this negative prediction is because of the basic realities that surround many of those who have been filing for bankruptcy protection since the recession hit in 2007 and into 2008. The Arizona jobs market remains in terrible shape, the Arizona real estate market is in shambles and even those who are working are spending more time at work while earning less money. Therefore, people are forced to initially exhaust their savings and retirement accounts just to meet their monthly obligations. When those resources are no longer available, many will live month-to-month on credit cards even though it doesn’t take long for the balances and minimum monthly payments to rise to levels that cannot be met.
Phoenix Bankruptcy Lawyers
For those who find themselves in this position, there is most likely a way out from under this terribly stressful ordeal. However, it all starts with a close look at your financial picture by an experienced professional. From there a course to recovery can be plotted. You should start by seeking the help of experienced Phoenix bankruptcy lawyers who have helped thousands of people obtain a fresh financial start. ContactPhillips Law Group today to schedule a free initial consultation.
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I tried a few previous law firms and none would take my car accident case with confidence they could get my anything. Phillips law group took my case and although it took around 4 years to get this case settled as I was in treatment, they never let up with insurance adjusters and they got me as much money as possible. They worked hard for me and advocated for me. Shoutout to key individuals who worked my case nonstop of the years, Robert Ross & Jasmine, you are AMAZING!
Sophia H. at Phillips Law Group has been an absolute joy to work with -quick, responsive, and professional in every interaction. Her breadth of knowledge, from administration to IT to finance, is nothing short of impressive.
Jasmine helped me so so much I want to thank her ! And also Aaron , i was always scared after an accident , knowing I would have to deal with lawyers but not here . Luckily I’ve only been in 3 accidents but this time it was fast and easy . And i received all the treatments I needed to help me recover ! Thank you Jasmine and Aaron!
I’ve been working at Phillips Law Group for nearly four years and I can confidently say this is the best personal injury firm in Arizona to work for. The firm is the best for numerous reasons but to start, Phillips Law Group gives employees opportunities for promotions and growth. I started working within the settlement department, moved to a paralegal assistant and grew to be a pre-litigation paralegal with my own case load. Each attorney I have worked for is extremely knowledgeable, friendly, and easy to talk to. Secondly, I love how Phillips Law shows appreciation for employees. They host Friday Zoom Huddles giving out PTO, goodie bags, special shout outs, bonuses and gift cards. They also host extravagant holiday parties and fun contests during the Holidays! Lastly, the firm cares about giving back to the community, which is a trait I value as well. It’s rewarding to see a fast paced firm taking time out of their busy day to pay it forward. I would highly recommend working at Phillips Law Group!
Two family members were in a bad wreck a couple of years ago, and as a result called Phillips Law to represent them. Montana Thompson was the attorney assigned to the case with the help of Nemo Farr as legal assistant. Mr. Thompson litigated a very generous settlement for both my stepdaughter and her son. Because my grandson is a minor, I decided to act as conservator for him to ensure the settlement was safe and secure. Montana helped with that process, but it was Nemo who went way above and beyond the call in finding a financial institution to use for the restricted account. There were some glitches in that process but Nemo helped navigate them with a calm expertise which belies his age. I would consider them both great representatives of the level of commitment to their clients and assets to their firm.
PLG is the best! Highly recommend. Love that they do so much to help the community.
Kathy Hudson and Donato Giovanatto. Continues to go above and beyond the call of duty. Reaching out to the insurance company about the damage to the vehicle. Forcing them to take responsibility.
It’s an Honor and a Privilege to work for a company that cares about its employees and clients for 12 years. I’ve seen Management go out of their way to help someone whether it’s a personal matter or work related. I am also reminded of many occasions where a Client needed urgent help and we as a Team were able to get the person immediate assistance. At Phillips Law we make that happen through Teamwork and a dedication to our profession. I’ve had numerous jobs in several other fields, those were just jobs. This is a home. Many of us have been here for quite a few years, it feels like one large extended family.
Sophia H is very helpful.
I just wanted to thank Phillips law Group and Vanessa Rodriguez for all the help that she did for my daughter’s case. She was involved in her first accident and she needed the help to deal with these adjusters. Thank you again.