In the Valley, bankruptcy filings are down for the fourth month in row makin the latest numbers the month, the biggest improvement since the recession began.

According to the U.S. Bankruptcy Court in Phoenix, there were 2,153 bankruptcy court filings, which is far below the peak of 2,813. From July 2010 to July 2011, there was a 16.7 percent increase which has been the largest year-over-year decline since 2006.

Since Novemer 2006, there was an increase in filings for 51 straight months.Then in Jaunary 2011, the number began to decrease and has continued ever since. Some think that this is because the distressed consumers have already filed and have been through the process. 

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