Metro Phoenix bankruptcies post double-digit dip in 2012

The metro Phoenix bankruptcy picture ended 2012 the same way it started the year, with a double-digit decline in the number of filings.

Helped by a stronger job market, better economic growth and rising real estate prices, fewer consumers and businesses resorted to bankruptcy last year. The 20,156 bankruptcies in 2012 were down from 26,262 in 2011 and 31,207 the year before, reported the U.S. Bankruptcy Court in Phoenix.

Filings have fallen for 23 straight months on a year-over-year basis. The last 18 decreases have been at double-digit rates.

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