Bankruptcies in Phoenix area down for January

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PHOENIX (AP) -- Like the rest of the nation, January produced fewer bankruptcies in the Phoenix area.

The numbers may be down, but experts caution against getting too excited because January is typically the slowest filing month of the year.

The 1,800 bankruptcy filings in January were still up 52 percent from January 2009, but is the lowest number since last February and the smallest year-over-year percentage increase since September 2007.

The number of January filings in the Phoenix area dropped 19 percent from December.

The American Bankruptcy Institute said bankruptcies fell 10 percent nationally.

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Information from: The Arizona Republic, http://www.azcentral.com

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