Recent Posts in Asset Forfeiture Category

  • Avoid mortgage debt relief scams

    When life gets tough and Arizona residents are facing problems such as unemployment, wage garnishment and missed payments on various bills, the one place they may find comfort is in their home. That's why when there is threat of repossession of the home due to missed mortgage payments, Arizona residents may find themselves doing anything they can to find debt relief, including falling victim to ...
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  • Let us help you protect your assets

    As someone begins to face financial difficulties, they generally try to do everything in their power to overcome those problems and get their financial problems under control. However, with wages being garnished, creditors circling and assets under threat of forfeiture, Arizona residents may want to consider easing their monetary problems by filing for bankruptcy. As mentioned last week on the ...
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  • Which debts are discharged through bankruptcy?

    Now that the differences between secured and unsecured debt were clarified a bit in last week's post on the Mesa Bankruptcy Law Blog, the next question that Arizona residents may be thinking about is which debt is discharged through bankruptcy. Debtors turn to personal bankruptcy, either Chapter 7 or 13, not only to have most of their debts wiped out but also to avoid asset forfeiture. So it is ...
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  • Understand the difference between unsecured and secured debt

    One may think that all debt is equal and must be repaid to the creditors at the same pace and the same amount, but this is not true. Arizona residents may be surprised to hear that debt can be of two kinds, secured and unsecured, and both are treated differently, both by creditors and during bankruptcy proceedings. Credit cards and student loans are examples or unsecured debt. This debt is ...
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  • Is harassment off-limits for debt collectors in Arizona?

    Arizona residents who have unpaid bills or who have been mistakenly listed as past due may have heard from debt collectors. A debt collector is someone who habitually collects debts that are owed to someone else. Collection agencies and companies that buy delinquent debts are examples of debt collectors. A debt collector uses various methods to try and collect the debt from debtors, but the Fair ...
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  • Get answers to your questions about bankruptcy asset forfeiture

    For Maricopa County residents facing financial challenges, one of the options for dealing with the problem is bankruptcy. For many folks, bankruptcy can be an effective way of dealing with an otherwise overwhelming debt situation. There is one concern that many people have with bankruptcy, however. You may have heard that some people may have to forfeit some of their assets as part of the debt ...
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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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  • Filing for bankruptcy to avoid harassment, garnishment

    As Arizona residents get older, many have started planning their retirement. But a surprising new report by the Government Accountability Office reveals that debt among senior citizens has risen exponentially since 2005 and that a majority of that debt is related to student loans for senior citizen's own education rather than their children's. According to the report, debt held by Americans age 65 ...
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  • How soon are Arizona debts discharged after filing bankruptcy?

    With financial problems come added issues of wage garnishment, creditor harassment, threat of foreclosure and asset forfeiture. Burdened by debt, Arizona residents may be desperate to take concrete steps to wipe out most of their bills, and these issues simply compound the matter. This is why, once they make the decision to file for bankruptcy, either Chapter 7 or 13, they wonder when their debts ...
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  • Chapter 13 filing may prevent asset forfeiture

    Arizona residents struggling with debt may be aware that, in addition to the stress of paying off debt, they may also face creditor harassment, wage garnishment and fear of asset repossession. These burdens may end up being overwhelming, but it may be possible for Arizona residents to fight their way out from the debt by availing the options of personal bankruptcy in the form of Chapter 7 or 13 ...
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  • Arizona bankruptcy filings drop in 2013

    Last year proved to be better in terms of bankruptcy filings across the country, with total bankruptcy petitions dropping by 13 percent compared to 2012. The drop in bankruptcies was reflected in Arizona as well, with the number falling by 19 percent in the Arizona and Tucson area, according to the U.S. Bankruptcy Court. Bankruptcy filings started increasing right before the recession in 2007, ...
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  • What not to do when trying to avoid asset forfeiture

    When facing financial difficulties and creditors, Arizona residents may often have to contend with wage garnishment, creditor harassment and even asset forfeiture. One of the assets they may have to forfeit is their personal home. However, filing for bankruptcy not only puts an end to bills, but it may also halt asset forfeiture because it puts an automatic stay on foreclosure proceedings. Two ...
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