83% Decrease in Arizona Bankruptcy Filings
May 25, 2006
According to Mohave Daily News: Business, bankruptcy filings in Arizona dropped like a rock in the first four months of the year.
From January through April 2005, 10,592 filings were reported by the U.S. Bankruptcy Court of Arizona. The same period this year saw only 1,777 cases, of which 1,374 were so-called ‘‘Chapter 7'' liquidation filings.
‘‘For April, we're almost 84 percent below what we had for the same month last year,'' said Terrence Miller, clerk of the U.S. Bankruptcy Court of Arizona.
‘‘Year to date, we're about 83 percent below. We had that large upsurge right before the new law took effect . . . so we're finishing up working through all those cases.''
With figures like 83 percent below previously levels, you will soon see courts laying off personnel. The courts are already on tight budgets that are tied to case loads.
Watch the chapter 13 trustee's office, notrious for their large staffs, to also start laying people off right and left.
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