Bankruptcy can wipe out debts caused by unexpected life events

Bankruptcy can wipe out debts caused by unexpected life events

As mentioned in last week's blog post, one of the reasons athletes, and Arizona residents in general, may find themselves facing financial problems is because they did not plan their finances. They didn't balance their current incomes with their expenses, siphoning off some savings on a monthly basis and creating a fund for a rainy day. In addition to this, it is possible that they took the advice of someone who didn't have a sound financial background and ended up investing money in a dead end project.

However, as many Arizona residents know, financial planning does not mean much in the face of an emergency; an accident, a death, redundancy or even a sudden illness of a loved one. Since it is not possible to budget for these events on a monthly basis, when they do occur, people may find themselves overwhelmed with debt and unable to make ends meet, even though they could previously.

Though it may embarrass some people to ask for help, the truth of the matter is that everyone faces financial problems. This is why athlete's financial problems were highlighted in last week's blog post. Everyone faces monetary issues, and lawyers at our firm have handled many that have arisen for a number of reasons. Regardless of the cause, it is possible to file for personal bankruptcy, either Chapter 7 or 13, in order to help get out of a financial quagmire.

We understand that people are looking for a fresh start and Chapter 7 bankruptcy is one way to get it. By wiping out most debts and even some taxes, it may allow people to get their lives back on track. By analyzing every case separately, we have worked with our past clients to provide them an individual service to help them get through this difficult time. For more information on Chapter 7 bankruptcy, visit our webpage.

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