Phoenix Bankruptcy Law News

Top 400 Charities in America See Decrease in Donations

It seems like charities and non-profit organizations are among the groups that have been suffering the most from the recession that ended last year. Time Magazine reports that donations to America's top 400 charities dropped by almost 11 percent  last year and that, together losing billions of dollars in giving.

"It shows that charities are really having a tough time, and this is some of the most successful charities in the United States," Chronicle of Philanthropy Editor Stacy Palmer told Time Magazine. "Usually bigger charities are more resilient, so that's the part that is still surprising."

The 11 percent drop in charitable contributions marks the worst decline in 20 years since the Chronicle of Philanthropy began keeping track of donations to the nation's top 400 charities. Even though the recession has officially ended, many people are still unemployed or having a tough time making ends meet. This means that many Americans that once gave to charity are now having difficulties making such contributions.

When it comes to debt, Phoenix bankruptcy attorneys can often help people in Arizona that are looking to either reorganize their finances or want to get a repayment plan approved by the federal bankruptcy court. With a repayment plan, FindLaw states that the debtor can often get many of his or her debts discharged and become free of debt once the repayment plan is completed and the requirement of completing a budget counseling course is met. More information on Chapter 13 bankruptcy or the repayment plan can be found through our Related Resources pages.

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