After the Bankruptcy Abuse Prevention and Consumer Act was passed in 2005, the fees required to file for bankruptcy were raised. Because of this, research shows that the number of bankruptcy filings raises after tax rebates are returned.

According to researchers at Columbia University, there are now more bankrupcty filings after rebates are returned compared to before the 2005 bankrupcty act. Bankrutpcy filings from the year 2001 and 2008 were studied and it was found that in 2001, bankruptcy filings only rose 2 percent after rebates were returned.

By 2008, this number rose to 7 percent. The bill that was passed has sparked a somewhat controversial debate because some are concerned that the extra fees do not screen out bad bankruptcy filings, but they do prevent legitimate ones. Others feel that the act is very beneficial in stopping fraudulent bankruptcy filings.

If you or a loved one has considered filing for bankruptcy, you need expereinced representation on your side at this time. Contact the Arizona consumer bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494 today. 

Bankrupty filings in the Phoenix area have increased over the past month, but are still lower than what they were this time last year.

According to sources, there were 1,623 bankruptcy filings in the month of February which was an increase from the 1,321 that were filed in January. This number is still down 11 percent from February 2011. Officials have stated that bankruptcies tend to increase in the month of February because people that have been struggling with debt begin to receive tax refunds and are able to file for bankruptcy.

This is why the month of January is usually one of the slowest months as far as bankruptcy filings are concerned. Before these numbers for February were released, filings were down in 8 out of the past 10 months. 

If you or a loved one has been struggling with debt, you need representation on your side that can help you  through this stressful process step by step. Contact the Arizona consumer bankruptcy lawyers of the Harmon Law Office, LLC, by calling 480-829-0494 today.

Consumer bankruptcy filings filed in the first six months of this year show a slight decline in the number of consumer bankruptcies filed in the United States.  From January to June, a total of 709,303 consumer bankruptcies were filed across the country.

According to the American Bankruptcy Institute, this year's consumer bankruptcy filings are 7.9 percent lower than the number of consumer filings made in the first six months of 2010.  

In all of 2010, a total of 1.5 million personal bankruptcies were filed in the U.S.  Last year's number of total personal bankruptcy filings was the highest it had been since bankruptcy laws were reformed in 2010.

If you or someone you know has questions about filing for consumer bankruptcy, contact the Arizona consumer bankruptcy lawyers of Harmon Law Office, LLC at 480-829-0494 to learn more today.

In the first half of 2011, Arizona has seen a decrease in the number of bankruptcy petitions that have been filed across the state.

There has been a 7.5 percent decrease in the first six months of the year compared to this time last year, bringing the statewide number to 19,080.  The number of Chapter 7 bankruptcy filings has decreased by 8.5 percent, but Chapter 11 filings have not been following the same trend.

They have increased in the fist six months and are at a total of 49, which is nine more than 2010. The American Bankruptcy Institute stated that there were 41,193 consumer bankruptcy filings in 2010. 

If you or a loved one has been struggling with debt and would like to discuss your options with an experienced professional, contact the consumer bankruptcy lawyers in Arizona of the Harmon Law Office today by calling 480-829-0494 today.

According to the American Bankruptcy Institute, consumer bankruptcies have experienced a slight decline so far this year.  From January to June, 709,303 consumer bankruptcies have been filed in the United States.  In the same time period last year, 7.9 percent more bankruptcies were filed by consumers.

Consumer bankruptcies filed in June were 4.3 percent more than the month before when a total of 114,803 bankruptcies were filed.  

Experts say that a decline in consumer bankruptcies was expected after last year's total filings reached the highest ever since 2005 and before the new bankruptcy laws went into effect.  The executive director of the ABI, Samuel J. Gerdano, stated, "The drop in bankruptcies for the first half of the year shows the continued efforts of consumers to reduce their household debt, and the overall pullback in consumer credit."

If you or someone you know has questions about filing for consumer bankruptcy in Arizona, contact the Arizona consumer bankruptcy lawyers of Harmon Law Office, LLC at 480-829-0494 to learn more about the benefits of choosing consumer bankruptcy.

Many people find filing for bankruptcy to be scary, as they do not know how it will affect other aspects of their finances, such as their credit scores. While filing for bankruptcy may initially lower your credit score, it may actually benefit you in the long run and increase your credit score in the future.

Many factors go into calculating credit card scores, including payment history and debt. After filing for bankruptcy, creditors may see you as a risk, and your credit score may be lowered. However, a lowered credit score is only temporary, and the benefits of filing for bankruptcy can alleviate the pressure of a low credit score.

Bankruptcy allows the filer to organize debts in a way so that bills can be paid on time and close unneccessary credit card accounts. In the long run, this will raise your credit score, as creditors see that an improvement has been made in the handling of your finances.

If you or someone you love is considering filing for bankruptcy, please contact the Arizona consumer bankruptcy lawyers of the Harmon Law Office, LLC, at 480-829-0494.