Blog Posts in February, 2015

  • What are the benefits of declaring Chapter 13 bankruptcy?

    Though bankruptcy refers to the process whereby people who owe debt can liquidate certain assets and repay their creditors, bankruptcy takes various forms as outlined by Title 11 of the Bankruptcy Code. Generally speaking, filers must select a specific form of bankruptcy before they file. Arizona residents may be aware that the most common types of personal bankruptcy are Chapters 7 and 13. Based ...
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  • Risk taking athletes more likely to declare bankruptcy

    Arizona residents facing monetary problems and struggling to make ends meet on a daily basis may be surprised to hear that athletes earning millions of dollars face financial problems as well. In fact, according to a Sports Illustrated story in 2009, within a few years of retiring, around 60 percent of professional basketball players either faced bankruptcy or serious financial hardship. Arizona ...
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  • Get an automatic stay on foreclosure through bankruptcy

    Readers of the Mesa Bankruptcy Law Blog may have read the post recently describing bankruptcy and the benefits of filing for bankruptcy in the face of financial struggles. Perhaps one of the benefits of filing for personal bankruptcy most relevant to many Arizona residents, whether it is Chapter 7 or Chapter 13 bankruptcy, is the automatic stay placed on foreclosure proceedings. Many Arizona ...
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  • What is bankruptcy?

    Filing for bankruptcy may ease Arizona residents' financial obligations, but what exactly is bankruptcy? Bankruptcy is a set of federal rules and laws that may be sued by people who owe more debt than they can pay. Bankruptcy courts are separate from other courts and debtors file for bankruptcy in federal bankruptcy court, as only federal courts have jurisdiction over bankruptcy matters. ...
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