Blog Posts in 2014

  • Who is eligible for Chapter 7 bankruptcy?

    Many Arizona residents may be considering starting the new year with a clean slate, including a new start on their financial life. One way to achieve this new beginning is filing for Chapter 7 bankruptcy, commonly known as liquidation bankruptcy. Most unsecured debts and some forms of taxes are wiped out with this form of bankruptcy and it also puts an end to creditor harassment and wage ...
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  • Can a debtor keep credit card points after bankruptcy?

    When Arizona residents think of declaring bankruptcy, they may be familiar with the standard bankruptcy exemptions, such as the car and the residential house, but unaware of the more mundane things they can keep. One of the things they may think of is their credit card points-can they keep them after spending months or even years racking them up. The best idea would be to cash them out or use them ...
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  • What is a bankruptcy exemption?

    When it comes to declaring bankruptcy, Arizona residents may be hesitant to do so not just because of the perceived social stigma attached to declaring bankruptcy but also because they are afraid they may lose possession of their most prized assets. However, this is not the case. There is some property that is exempt-this means that the debtor can keep control of this property and does not have to ...
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  • Hiring holiday surge may not ease bankruptcies

    The turbulent economy left many people across the country struggling and curtailing their finances to make ends meet and simply stay afloat. Many Arizona residents may be among those who lost their jobs or saw a sharp fall in their salary and contemplated declaring bankruptcy. That's why the sudden increase in their salary in November may have come as a pleasant surprise and welcome relief. When ...
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  • Let a lawyer help discharge taxes through bankruptcy

    Owing taxes to the government, especially if they have accumulated over the years, can leave Arizona debtors feeling not only overwhelmed by their obligation but also scared. Without the current resources to pay taxes and with no real viable hope of drastically increasing income to pay taxes, they may not know what to do about their financial situation. As discussed previously on the Mesa ...
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  • Chapter 13 bankruptcy an option for discharging taxes

    Though it is every citizen's duty to pay taxes annually, there are probably some Arizona residents who struggle with fulfilling this obligation at the end of the year. Rather than run from this duty, one of the options available to those who are unable to pay their taxes or have accumulated taxes over previous years is to file for bankruptcy. One of the federal protections available to those ...
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  • Complete prerequisite requirements when filing for bankruptcy

    Making the decision to declare personal bankruptcy, whether it is Chapter 7 or 13, is not an easy one. It involves coming to terms with not being able to pay creditors and losing possession of some assets, but it also brings relief as Arizona debtors begin to regain control of their financial life. Once the decision is made, there are certain formalities that must be fulfilled before the ...
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  • Once my debt is discharged, can it be revoked?

    When a debtor is no longer personally responsible for paying certain types of debt, those debts are considered discharged. It is a permanent order that forbids creditors from either taking any more action against the debtor or even from communicating with the debtor regarding that debt. Depending on the type of bankruptcy Arizona residents have filed for, the timing of discharge varies. In a ...
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  • Working with you to discharge debt, end harassment

    Overwhelming debt brings with it many headaches, such as figuring out how to stretch the budget next month or how to make the next monthly payment on a bill. While struggling to make ends meet, the last thing many Arizona residents may want is a constant reminder that they owe someone money, especially if the person making the reminders has begun to harass the debtor, which is often the case. As ...
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  • Personal bankruptcy becomes issue in political campaign

    In Mesa and throughout the state, many people face financial challenges that make filing for bankruptcy the wisest option to help them get through it. It is not a decision that is meant to shirk one's responsibility to debtors, but one that is designed to meet one's obligations while staying on sound financial footing. Financial matters can be complex and having to go through a personal bankruptcy ...
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  • Reestablishing Arizona good credit after filing for bankruptcy

    One of the major worries a person in Arizona might have about filing for bankruptcy is the negative effect it will have on their credit afterwards. However, it is possible to rebuild your credit after filing for bankruptcy, and it may be easier than you think. If an individual is employed, in some cases, it is possible for them to establish good credit in a couple of years. One could even look ...
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  • Arizona bankruptcy exemptions for money, benefits and proceeds

    When the decision regarding filing for bankruptcy in Arizona is made, one of the main questions the person will have has to do with what will happen with money, benefits or proceeds. The laws of the state are in place to protect certain payments from being lost. Bankruptcy exemptions vary and will depend on the individual situation. It is important to know what is exempt and what isn't before ...
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  • Deciphering Chapter 7 bankruptcy from Chapter 13 bankruptcy

    Financial disaster can strike even the most responsible person in Arizona at any moment. For example, a serious illness or accident can lead to insurmountable medical bills. Or perhaps a person unexpectedly loses their job, making them unable to pay their mortgage, credit card bills or car payments. When this happens, filing for bankruptcy can be a good choice for rebounding financially. It is ...
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  • Does bankruptcy mean I have to give up my property?

    After months or years of trying to stay afloat, something gives and keeping one's head above water just isn't possible anymore. While bankruptcy may be the lifejacket that one needs, it can be a highly trying and emotional time in anyone's life. One particularly hard hurdle to overcome is the forfeiture of assets that comes along with certain types of bankruptcies. The type of bankruptcy an ...
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  • Report: Those who file for Chapter 13 see better income, health

    Many Arizona residents think of bankruptcy as a last resort, or as the end of the line, but in fact for many people bankruptcy can represent a new beginning. Chapter 13 bankruptcy, in particular, can be a good way for people to return to financial health without undergoing extreme measures. A recent report suggests that people who have filed for Chapter 13 have much better finances for years after ...
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