Blog Posts in August, 2015

  • Why do so many athletes go bankrupt?

    Many Arizona football fans probably were surprised to hear about the Sports Illustrated 2009 article that reported that 78 percent of former NFL players either went bankrupt, or suffered some sort of financial challenges two years after retiring. Though it may sound shocking given the multi-million dollar contracts some professional athletes sign, the truth of the matter is that a substantial ...
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  • What is 'zombie debt' with regard to bankruptcy?

    Arizona residents may love their zombie movies and shows, but may be less enthralled by 'zombie debt.' . A zombie debt is one that is old, and generally not owed any longer, but like zombies in television shows, continues to haunt the debtor. Recently, many debtors have sued big banks for not killing their zombie debt, allowing it to carry on as unpaid debt and affect their credit ratings, even ...
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  • Bankruptcy issues: what is zombie debt?

    Arizona residents may love their zombie movies and shows, but zombie debt not so much. A zombie debt is one that is old and generally not owed any longer, but like zombies in television shows, continues to haunt the debtor. Recently, many debtors have sued big banks for not killing their zombie debt, allowing it to carry on as unpaid debt even though it was cleared in bankruptcy, harming their ...
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  • Helping clients rebuild credit after bankruptcy for years

    As discussed previously on the Mesa Arizona Bankruptcy Law Blog, using a credit card is much easier than paying it off- in fact it seems as if one forgets the hardship involved with paying off the credit card when they use it the next time. However, there comes a point when credit card debt is no longer something that can be waved off-creditors come knocking on the door, wage garnishment looms and ...
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  • Buying a home after bankruptcy or foreclosure

    When Arizona residents file for bankruptcy to wipe out most of their debts, intending to restart their financial lives, they may want to start their journey in a new house. Debtors may be unsure of whether they can get a loan to buy a house, and even if they can, how long will they have to wait to get it. The good news is that consumers may be able to get a loan a few years after filing for ...
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