Bankruptcy cases rose 45 percent in January compared to the same time last year. According to statistics from the U.S. Bankruptcy Court of America, 2,493 bankruptcy cases were filed in January. 

The rise in bankruptcy filings was likely the result of a number of factors related to the recent recession. With many people losing their jobs and others having their home values drop, many people were unable to keep up with their regular debt payments. 

If you or anyone you know has considered filing for bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office at 480-829-0494.