Bankruptcy Filing Statistics for Year Ending March 31, 2009
One of the biggest hesitations that most financially struggling small business owners and individuals have regarding filing for bankruptcy protection is the perception that seeking to resolve debts in this manner will lead to isolation. The reality, however, is that economic pressures and unforeseen adverse life events can greatly disrupt any company or family’s ability to keep pace with the demands of existing repayment obligations.
As a consequence, each year there are generally about one million separate bankruptcy filings, which should serve to lessen your fears that you would be stepping out onto an uninhabited ledge by choosing to seek bankruptcy protection.
If your finances are in disarray and collection efforts are starting to take a toll on your emotional welfare, then it is time for you to take action. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C. at 480-829-0494 to speak with a skilled and experienced attorney about the options that may be available to you.
Bankruptcy Filings by Chapter
There are several different forms of bankruptcy protection and each is intended to address a separate set of financial issues. The following illustrates the annual change from the year ending March 31, 2008 to the year ending March 31, 2009 for Chapters 7, 11, 12, and 13:
4/1/07-3/31/08
- Chapter 7 - 560,015
- Chapter 11 - 6,971
- Chapter 12 - 343
- Chapter 13 - 334,551
4/1/08-3/31/09
- Chapter 7 - 819,362
- Chapter 11 - 11,785
- Chapter 12 - 367
- Chapter 13 - 370,875
Contact Us
Our firm is committed to helping businesses, individuals, and families begin taking the steps necessary to repair and rebuild their financial future. Contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C. today at 480-829-0494 for information on how we can help you.