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.