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January

Blog Posts in January, 2014

  • Former pro athlete files for bankruptcy

    Arizona residents who watch sports may think pro athletes have it all: the fun, the fame and the finances. They may even dream of ending up like them one day. However, they may not be aware of a disturbing trend on the rise among professional athletes: financial difficulty. According to a Sports Illustrated survey in 2009, 78 percent of former NFL players were either bankrupt or on the brink ...
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  • Drop in bankruptcy filings in some cities of Arizona

    As the economy improves and people find gainful employment around the state, bankruptcy filings have fallen. In fact, Arizona residents may be surprised to hear that this is the third straight year that bankruptcy filings have decreased-this year alone they fell 14.2 percent, according to the U.S. Bankruptcy Court for the District of Arizona. Of course, not all cities saw the benefits of this ...
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  • While bankruptcies are lowering in AZ, debt relief options exist

    For those still facing financial challenges in this struggling economy, debt relief and personal bankruptcy options exist to help. Bankruptcy filings in the greater-Phoenix area in 2013 were at their lowest numbers since 2008 at the beginning of the recession. The struggling economy and unemployment have seen some improvement, as unemployment in the U.S. is at 7 percent from 7.9 percent. Arizona ...
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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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  • Failed business ventures may lead to bankruptcy

    Starting a business is a difficult project at any time, but in today's turbulent economy, it is even more risky. However, people must earn a living and to do so, some people invest all their money into their business and if it doesn't work, they also end up not only losing their investment, but sometimes even more of their savings as they rack up debt in order to start it up. Arizona residents may ...
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  • Debt management awareness essential to avoid bankruptcy

    Understanding and managing debt is often the first step towards discharging it. Arizona residents struggling with debt may not know which debt to pay off first or how repayment plans can help them. Increasingly, financial educational seminars are being given by the organizations least expected to, credit unions. Credit unions thrive on loans, so it seems ironic that they are educating people about ...
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  • Oil company owner files for Chapter 7 bankruptcy

    As some Arizona residents may be aware, financial difficulties can plague anyone. At the heart of the matter is the fact that when people spend more money than they earn, they find it difficult to make ends meet, especially if they owe creditors money. One of the federal and state protections offered to them is filing for bankruptcy, an option an oil company's owner recently availed when he filed ...
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