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IPFS News Link • Arizona's Top News

Phoenix: Bankruptcy filings in Valley hit all-time record

12-19-2010 • AZcentral.com

Another 2,501 consumer and business filings logged in November pushed the year-to-date total for metro Phoenix to 28,849, according to the U.S. Bankruptcy Court in Phoenix. That exceeds the 28,277 filings recorded for all of 2005, when thousands of people rushed to seek protection before a tightening in the federal bankruptcy laws took effect. This year's total through November also tops the 25,104 filings for all of 2009. "My guess is that 2011 will be equal or greater for filings than 2010, but it's just a gut feeling," said Diane L. Drain, a Phoenix bankruptcy attorney.

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Reported By Jack Gregson

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