The financial picture in Gilbert continues to be a mixed bag of negative and positive financial indicators. While our unemployment rate of 4.9% remains about half the nation average, we still have experienced a significant downturn from our own local unemployment rates. Compounding these problems is that the housing market does not seem to be rebounding as average home equity has dropped in the last year by approximately 20 percent. The bottom line is that many Gilbert residents continue to struggle financially to keep their heads above water. This is not the result of any failure of financial planning or frivolous overspending by Gilbert residents, but the sad reality of an economic slowdown that continues to affect people throughout Arizona and the U.S.
When people lose their home or become buried in negative home equity, as some many people have in Gilbert or throughout Arizona, the economic hardship can become overwhelming. Further, once a person starts to struggle meeting their monthly financial obligations, the situation tends to snowball so that the situation quickly becomes unmanageable. Many people in Gilbert who have never been late before in making monthly payments or submitting mortgage payments to their home loan finance company now find themselves the victim of the economic downturn.
The economic downturn is one reason that many Gilbert residents are facing bankruptcy, but there are other common reasons that people end up needing bankruptcy protection. Some of the most common reasons that people must file bankruptcy include:
Stone Rose Law offers customized options and solutions to those throughout Gilbert faced with financial difficulties including the potential of losing one’s home to foreclosure. Our Gilbert bankruptcy attorneys represent clients in Chapter 7 and Chapter 13 bankruptcies with a goal to long-term financial goals. We are committed to providing comprehensive debt solutions that will allow you to provide for your family and protect the valuable financial assets you have worked so hard to build.
At many bankruptcy law firms, you will never speak to a lawyer, and non-attorneys perform all the work. At our Gilbert bankruptcy law firm, we provide creative debt solutions that ease the financial burden and permit you to keep your home and other valuable assets protected. We believe our goal is more than to simply prepare and file bankruptcy paperwork. Our larger role is to provide sound legal advice that permits you to make effective financial decisions to provide for a more stable financial future. Our experienced legal team will help you determine whether bankruptcy is an appropriate alternative for your financial goals and objectives. If a Chapter 7 or Chapter 13 bankruptcy is right for you, we will develop a bankruptcy plan that will provide the greatest benefit to you.