Recently, I've had a number of great clients from the City of Maricopa, Apache Junction, Florence, and South Queen Creek, AZ. These towns and cities are all located in Pinal County. Pinal County is in a different Division of the Arizona Bankruptcy District than Maricopa County.
So what? All it means is that if you live in Pinal County, your meeting of creditors will be in Florence instead of in downtown Phoenix. The meeting is held at the Pinal County Superior Court building in Florence.
The US Trustee Program is updating the median income numbers for cases filed on or after March 15, 2009.
Even though incomes are presently dropping, the numbers produced by the Census Bureau go back far enough that they capture an increase in median income in Arizona.
The new median income levels for bankruptcy filings in Arizona are:
Household Size - Income
- One - $43,397
- Two - $57,620
- Three - $62,002
- Four - $71,867
- Five - $78,767
- Six - $85,667
So what does this mean for you?
Last week, President Obama was in town to announce his plan to help stem the tide of foreclosures. Arizona has been particularly hard hit, which is one reason why he chose to come here to give his speech.
Mr. Obama began by describing how all of us are paying a price as a result of the home mortgage crisis – depressed home values, businesses closing, and high costs to local government.
So, he set out a four-part plan to try to stop the slide in home prices and shrink the foreclosure rate.
