New numbers released show that 43 million Americans are on food stamps or just about 13% of the U.S. population. This is the highest percentage in nearly forty years. As I talk to family and friends from around the country I am realizing more and more that Arizona has been hit particularly hard by this economic downturn. Many of the people I file bankruptcy for are small business owners that have had to throw in the towel and along with that having to let go of several employees.
Regardless of the reason for your financial troubles, I would encourage you to get all the information available when determining if bankruptcy is a good option for your situation. A chapter 7 bankruptcy is generally appropriate for those who’s debts tend to be credit card-type debts, or unsecured debts. A chapter 13 bankruptcy is generally appropriate for those seeking to save their home from foreclosure and is often the best choice for those small business owners that need some financial relief.
I’m a bankruptcy attorney in Arizona and I offer a free bankruptcy consultation where we can discuss your specific situation. I can be reached at (480) 648-8975.