Blog Posts in September, 2012

  • Short-sale and principal reduction tax break may expire

    The housing market's decline may have affected a lot of Arizona homeowners as they faced the threat of foreclosure and their mortgage payments became higher than the market value of their homes. With income declining and mortgage payments increasing, struggling homeowners may have filed for personal bankruptcy to retain ownership over their house and other assets. Chapter 7 bankruptcy filers may ...
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  • ACA may lower medical bills, reduce collections and bankruptcy

    Repossession and wage garnishment are two of the means used to harass already overwhelmed debtors into repaying their debts. Debt collections are reported to collections agencies, who may take extreme measures such as those mentioned above to ensure their debts are collected. According to some reports, medical bills may constitute half of all collections reported to agencies. Arizona residents who ...
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  • Contractor's Chapter 13 filing is questioned

    Chapter 13 bankruptcy can be pursued by Arizona residents who do not meet the income requirements of Chapter 7 bankruptcy or who have assets they do not want to lose. A Chapter 13 bankruptcy is often attractive to people because payments are spread out and allow the individual to pay off their debt over time. Filing for bankruptcy is often the last resort for those struggling with debt, and people ...
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  • Thorough list of bankruptcy exemptions in Arizona

    When deciding whether to file for bankruptcy, one of the major concerns Arizona residents may have is which of their assets they may retain -- they may hesitate at the thought of selling off all their possessions to satisfy their creditors. However, the list of bankruptcy exemptions is quite thorough for Arizona residents, meaning that they may keep many of their possessions during bankruptcy ...
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