Arizona Bankruptcy Law

How Do I Choose A Good Bankruptcy Attorney?

09/07/11

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 attorneys help seamlessly guide you through the process, but they can also make sure you get the full benefit [...]

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How Bankruptcy Impacts a Cosigner

08/30/11

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 always crucial to do what’s financially beneficial, it’s also vital to understand how it will affect your cosigners. Here [...]

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Should I Convert My Chapter 13 to Chapter 7?

08/24/11

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 eligible for Chapter 7 bankruptcy, section 1307(a) of the Bankruptcy Code permits you [...]

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Want a Successful Discharge? Things NOT to do Before a Bankruptcy

08/23/11

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 remember not to do, as they will damage your bankruptcy [...]

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How is a Short Sale Different from a Foreclosure?

08/05/11

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 payments, but your lender decides to allow [...]

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Banks Foreclose on Homes With No Mortgage!

08/05/11

 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 mistakenly brought a foreclosure action against a couple who had bought their [...]

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What is My “Current Monthly Income” and How Does it Affect My Filing of Bankruptcy?

07/27/11

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 because it can effect whether you are eligible to file in a Chapter 7 bankruptcy, and in a [...]

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Can I get rid of Criminal Fines and Traffic Tickets in Bankruptcy?

07/18/11

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 523(a)(7) of the Bankruptcy Code specifically states that fines and penalties owed to or [...]

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Filing Bankruptcy Without an Attorney

06/28/11

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 a successful outcome of the proceedings. However, the importance of an [...]

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Bankruptcy and Tax Debt: What Happens to Tax Debt in Bankruptcy

06/27/11

If I had a nickel for every time I am asked this question, I would have a lot of nickels. The elimination of tax debt in bankruptcy can be a little tricky, and I often like to meet with clients to go over the necessary documents together before I make the assessment of whether or [...]

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