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Bankruptcy filings in metro Phoenix fell in June

Bankruptcy filings dropped again during June in metropolitan Phoenix.

The Arizona Republic reports  that the 1,770 Phoenix area filings last month brought the total for the first half of the year to 10,867.

That’s down nearly 24 percent from the 14,271 in the first half of 2011. The statistics cover January through June.

Chapter 7 filings that allow debtors a fresh start after non-exempt assets are used to pay creditors accounted for 86 percent of metro Phoenix bankruptcies, both in June and for the first half of the year.

Chapter 13 debt-reorganization plans accounted for most of the rest.

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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