Bankruptcy filings continue to rise in ArizonaPosted: Updated:
MESA, Ariz. (AP) -- Bankruptcy filings continue to climb this year across Arizona and the Phoenix metropolitan area.
According to the U.S. Bankruptcy Court of Arizona, more than 5,200 state residents filed for bankruptcy during the first two months of the year. That's about 45 percent higher than the same period in 2009.
In the Phoenix metro area, 3,950 people filed for bankruptcy in January and February - a nearly 52 percent increase from the first two months of 2009.
It appears most consumers filed for Chapter 7, which doesn't require any repayment of debt. Chapter 7 filings in Arizona were up 42 percent in January and February compared to the first two months of last year and up 48 percent in the Phoenix area.
Filings for Chapter 13, which includes at least some repayment, were up 60 percent statewide and 69 percent in the Phoenix metro area.
Information from: East Valley Tribune/Scottsdale Tribune, http://www.eastvalleytribune.com
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