The number of bankruptcy filings in the Phoenix-area are down 29 percent in September 2011 from where they were in September 2010.

Bankruptcy experts are confused by the decrease in filings month-over-month, especially with such a large decrease of consumer bankruptcy filings (20 percent). In the Phoenix area, data shows that there were 1,999 consumer and business bankruptcies filed, the lowest number since February of this year.

Some officials have said that the decrease in filings is due to the slow economy because people may not have the money to even file for bankruptcy or because those who are having financial trouble have already filed for bankruptcy. Across the U.S., the same trend is seen, with bankruptcy filings down 17 percent in September.

If you or a loved one has been considering filing for bankruptcy, you need experienced representation on your side that may be able to make this situation less stressful by answering all of your questions. Contact the Arizona bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494 today.