Blog Posts in October, 2012

  • Consumer debt down, but there is still hesitancy in spending

    There is some good news for Arizona families struggling with debt - the amount of consumer debt, including mortgage and credit card payments, has decreased to a level at par with that of 2006. In fact, less than 16 percent of household income after tax goes towards debt payments, the lowest it has been since 1984. However, economic recovery is not happening as fast as many would like it to. Job ...
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  • It is possible to rebuild credit after bankruptcy in Arizona

    Declaring bankruptcy is one way for Arizona residents to gain control of their financial life. In addition to wiping out debts, bankruptcy is also a means to retain ownership of household possessions, and the house itself, in some circumstances. But some Arizona residents may be hesitant to declare bankruptcy not only because of the stigma they perceive to be attached to it, but also because they ...
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  • Even NFL players need to manage their money to avoid bankruptcy

    Many residents in Arizona and throughout the country may believe they have nothing in common financially with professional athletes. In fact, with an expected base salary of $390,000 in 2012 for NFL rookies, many players themselves believe they are set financially. However, ESPN's documentary Broke and shows like it paint a different picture. Money comes and goes easily in sports, and some ...
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  • Bankruptcy trustees are selling assets online

    Readers of this Mesa, Arizona Bankruptcy Law Blog may remember reading about boxing legend Evander Holyfield's financial difficulties and resulting foreclosure in an attempt to settle his debts. For those Arizona residents struggling with bills and debts that continue to pile up, declaring Chapter 7 bankruptcy is also an option to keep in mind that can wipe out almost all bills and put an end to ...
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  • One Arizona mill's bankruptcy may lead to more

    Even though there are reports that the economy is gradually improving, there may be some struggling to make ends meet, spreading their wages between their mortgage payments, credit card bills and household spending. Though many are making ends meet, an unexpected event, such as losing a job or suffering an injury, may wreak havoc on their finances. The residents of one Arizona town may have ...
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