Metro Phoenix bankruptcies continued their downward trend in March, with the number of filings dropping 26 percent from the same month in 2011. The decline corresponds with an easing of consumer debt pressures nationally, according to a new report.
The 2,074 filings were the highest total so far this year, but March tends to be a busy month, as people use their income-tax refunds to pay attorney fees. The latest tally was well below the 2,813 filings in March 2011 and the 3,063 in March 2010.
Valley bankruptcies have declined, on a year-over-year basis, for 14 consecutive months.
For all of Arizona, filings were down 28 percent from a year earlier and also have decreased for 14 straight months on a year-over-year basis.
Nationally, the 122,118 filings in March were down 17 percent from a year earlier, reported the American Bankruptcy Institute and Eqip Systems.
Read the rest of the article at AZ Central
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