News Topic: Arizona Bankruptcy Law

Filing for Bankruptcy in Arizona is Different Than Other Parts of the Country Most of the bankruptcy information that consumers will find online is geared towards a national audience. In many ways, this makes sense as the chapter 7 process is somewhat ... Read full article

There are two typical types of financial setbacks that lead to bankruptcy for most people: a huge surprise, and a slow and steady increase in debt.  If you are on the surprise side of things, as many of us are from time to time, it is important to follow ... Read full article

Clients are always concerned about their credit score.  It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option.  Although ... Read full article

In a high-profile example of the bankruptcy court’s discretion over your bankruptcy case, former TLC member T-Boz, whose real name is Tionne Watkins, was thrown out of bankruptcy court.  Can this happen to you? T-Boz had filed a personal Chapter 13 ... Read full article

Am I Protected by Arizona’s Anti-Deficiency Law After Foreclosure? When most families purchase a home, they don’t envision ending up facing a foreclosure sale, but in states like Arizona where the housing market has been particularly hard hit, foreclosure ... Read full article

When you are considering bankruptcy, you have often been behind on payments for months.  You have run up credit card debt, and missed payments on your car and mortgage.  And now, perhaps your lender is threatening to repossess your car.  What are your ... Read full article

In re: Rankin, No. 10-62340-13 (Bankr. D. Mont., January 21, 2011).   When you file for Chapter 13 bankruptcy, you propose to the bankruptcy court your plan to repay what you owe to your creditors.  There are many requirements that each plan must meet in ... Read full article

In Chapter 13 bankruptcy, you may be able to ask the court to lower the amount that you owe on a mortgage.  Actually, it is slightly more complicated than that, but it boils down to the same thing. If you have a mortgage that you owe more on than your home ... Read full article

A fringe candidate for mayor of Tucson was arrested for bankruptcy fraud a few months ago.  The 81 year old Marshall Home after filing on March 16, 2011, in United States Bankruptcy Court in Tucson an Involuntary Petition in Bankruptcy, seeking to place ... Read full article

Characteristics of a Good Bankruptcy Attorney If you’re faced with the unfortunate task of filing for bankruptcy, there’s nothing more important than having a highly qualified Arizona bankruptcy attorney by your side. Not only do reliable bankruptcy ... Read full article

How bankruptcies affect cosigners When filing for bankruptcy, it’s important to understand the consequences. Although most of the consequences will fall squarely on you, a bankruptcy could have negative ramifications on your cosigners. Even though it’s ... Read full article

Most Chapter 13 cases are not successfully completed and discharged.  This means that there are many individuals who file for Chapter 13 and find themselves unable or unwilling to continue.  Can these filers convert to Chapter 7?  Should they? If you are ... Read full article

Things you shouldn’t do right before filing for bankruptcy If you’ve made the decision to file for bankruptcy, you’re making the choice to get back on track to financial stability. If you know you’re going to file soon, there are a few things you should ... Read full article

 In the current home foreclosure crisis, it seems some banks have become trigger happy.   It has become a bit of a recent anomaly why banks have suddenly and mistakenly gone after some homeowners with whom they have no claim.  Recently, Bank of America ... Read full article

With the housing market the way it is, many people want to know: what is the difference between a short sale and a foreclosure sale?  And what difference does it make in bankruptcy?   In a short sale, you have defaulted on your loan and cannot make the ... Read full article

Your Current Monthly Income Affects Eligibility for Chapter 7 Bankruptcy The term “current monthly income” (CMI) is an important concept in bankruptcy that courts use in several “bankruptcy tests”. For example, your “current monthly income” is important ... Read full article

Millions of tickets are dolled out every year, not to mention government penalties and fines.  Government tickets and fines are one of the most common forms of debt.  Can these be discharged through a bankruptcy filing?  In Chapter 7 bankruptcy, section ... Read full article

According to the state bar, 40-50% of Arizona bankruptcy filings occur without an attorney (“pro se” in legalese).  Most individuals who file for bankruptcy are at rock bottom, and do not believe they can afford an attorney, or that it will be necessary to ... Read full article