Blog Posts in December, 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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