Blog Posts in June, 2013

  • High numbers of Arizona bankruptcies continue

    When Arizona residents begin to struggle financially, there are many hard decisions to be made. It is difficult to try to determine where expenses can be cut and how income can be augmented. Unfortunately, financial challenges and growing debt, often due to unexpected emergencies or medical expenses, sometimes become such a burden that people start to wonder if they will ever get ahead. Although ...
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  • Mortgage payments lead to high debt in senior citizens

    The dream that most senior citizens in Arizona may have had when entering retirement was that they would have paid off most of their debt, including their mortgages. They would never have imagined that the reality is that the debt they are holding has increased by 83 percent since 2001-the average debt being $50,000 in 2010. Housing-related debt accounts for most of the debt held by Americans over ...
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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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  • List of Arizona bankruptcy exemptions set to expand this year

    In the current housing market, many homeowners have seen the value of their home depreciate to the extent that their mortgage payments often exceed the market value of their home. While struggling to make ends meet and paying high mortgage payments, homeowners may find themselves facing foreclosure. One way to put an automatic stay on foreclosure proceedings is filing for bankruptcy, and this may ...
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