More good news continues out of the bankruptcy front for both Phoenix and Arizona. Of course, there’s also some bad news to go along with it.

Since I like to be optimistic about things, let’s start with the good news. The Arizona Republic is reporting that metro Phoenix bankruptcies have continued their year-by-year decline. This means that valley bankruptcies in October have fallen 22 percent since October of last year. This continues a nine-month downward trend.

There is also a general decline in bankruptcy numbers throughout the state. For the whole state, filings are down 13 percent for the year to date.

Now for the bad news. This decline doesn’t necessarily mean everyone’s out of the woods just yet. Even though bankruptcies seem to be declining, the economy doesn’t seem to be getting that much better. Credit is getting much more difficult to obtain, so people are having a harder time getting into overwhelming debt, but still aren’t making much money, according to a budget coach.

Here’s how the budget coach puts it in the Arizona Republic:

“If your (spending) behavior is out of line and you don’t have the income to support it, bankruptcy won’t necessarily help you,” she said.

Besides, a lot of individuals already have gone through the worst, including bankruptcy filings, she said. Arizona has seen more than 106,000 filings since the start of 2009 — enough to fill Chase Field twice over. Three-quarters of those have come in the Valley.

People are trying to spend less money, but times are still rough and the number of bankruptcies are still unnecessarily high. While bankruptcy isn’t for everyone, it’s important to consult an experienced bankruptcy attorney in Phoenix to figure out whether or not it’s the right decision for you. If you’re even thinking about bankruptcy, check out the reasons you should file for bankruptcy and consider the benefits.