Albuquerque, N.M., is Home to Most Efficient Bankruptcy Court

Written by CFB Blogger. Posted in Blog

The U.S. Bankruptcy Court in Albuquerque has been recognized as the most efficient bankruptcy court in the U.S. in 2013 according to a recently-released report concerning consumer filings from the Administrative Office of the U.S. Courts. The median time interval in New Mexico was 104 days from the filing date of a consumer bankruptcy petition to its final disposition, the shortest turnaround time among the 90 district bankruptcy courts serving the 50 states and District of Columbia. The median turnaround time nationwide was 116 days in 2013, reports Albuquerque Journal reporter Richard Metcalf. The article maintains that the main factor for this is probably that most consumer bankruptcy filings in “The Land of Enchantment” are Chapter 7 bankruptcy filings, which provides for the liquidation or sale of the debtor’s eligible assets to pay off creditors. Chapter 7 bankruptcies tend to be easier and quicker to resolve than other types of bankruptcy.  In the past few years, 90% of the bankruptcies filed in New Mexico have been Chapter 7, compared with an average of about 70% across the country. Another contributing factor is the local emphasis placed on case management, said Bankruptcy Court Clerk Norman H. Meyer Jr., whose staff of 20 handled 4,330 total bankruptcies in 2013, almost all of which were consumer bankruptcies. “’Bankruptcy has a lot of deadlines that need to be met. We watch that to make sure things happen when they’re supposed to happen,’” Meyer averred. The Client First Bankruptcy attorneys are among the most knowledgeable consumer bankruptcy attorneys in the country, representing thousands of clients in consumer bankruptcy cases. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m.-6:00 p.m. Central Time. You can also log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com 24/7 for timely and accurate information on filing your Chapter 7 or Chapter 13 bankruptcy.