Freeman & St. Clair Sees An Increased Number of Chapter 13 Bankruptcies

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Freeman & St. Clair publishes an article on bankruptcy as a financial solution in response to an increase in the number of Chapter 13 bankruptcies being filed by Arizonans. The impetus behind the inflated number of filings can be traced back to the housing bubble and the consequences that befell Arizona when it finally popped.

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People are turning to the Chapter 13 bankruptcy because…it offers the possibility of saving the family’s home.

Freeman & St. Clair publishes an article on bankruptcy as a solution to financial crisis. The article was published in response to the increase in Chapter 13 bankruptcies being filed in the state. Most Arizona bankruptcy attorneys agree that the increase in the number of filings is a direct result of the downturn the economy has experienced.

Arizona bankruptcy lawyers and others with firsthand experience in the industry, often feel that the origination point can be focused even more intently on the housing bubble. The extreme housing inflation often referred to as the housing bubble eventually took its toll when the bottom fell out. Statistics show that Arizona, Nevada and Florida have been hit the hardest by the housing bubble bursting. Many assume that the middle class/lower income families were dealt the toughest hand, but people of all incomes and backgrounds are feeling the decidedly brutal pinch. Individuals and families of all income levels as well as businesses, large and small, are finding themselves in need of immediate financial relief through bankruptcy.

Businesses and individuals drowning in debt and at risk of losing their homes and/or property are filing for Chapter 13 bankruptcy. The wave of foreclosures that hit the Valley (and other similarly affected areas) spurred many to turn to bankruptcy specialists like Tucson’s Freeman & St. Clair small business law firm.

Bob St. Clair of Freeman & St. Clair said, “People are turning to the Chapter 13 bankruptcy because in certain situations, when the documentation and filing is handled correctly, it offers the possibility of saving the family’s home.”

Freeman & St. Clair provides personal legal representation in Tucson, Arizona. With over 35 years of experience, they are known as the small firm for small businesses. The firm provides a full range of legal services: corporate law, litigation, collections, bankruptcies, personal injuries, estate planning, etc.

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