Arizona Bankruptcy Law

Assessing Your Financial Situation Pre-Bankruptcy

06/22/11

Often, people wait too long to file bankruptcy.  Considering bankruptcy to be a last resort is probably a wise thing to do, and there are often many things an individual can do to prevent bankruptcy.  However, waiting too long can mean that bankruptcy protects less of your assets than it might otherwise be able to, [...]

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Medical Expenses and Bankruptcy

06/17/11

It is no secret than many Americans are one tragedy away from financial hardship in the form of accidents, the loss of a job, a divorce, or an unexpected illness.  More than half of all bankruptcies are reportedly the result of overwhelming medical expenses. Even (relatively) small medical bills can become overwhelming quickly because the [...]

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Private School Tuition in Chapter 13 Bankruptcy

06/16/11

Everyone filing for Chapter 13 bankruptcy knows they will make a plan that must be approved by the bankruptcy court in order for them to proceed.  But what may be included in that plan?  The Bankruptcy Code uses vague terminology such as “fair” and “reasonable” to define what costs a debtor can claim are necessary [...]

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When Can Bankruptcy Stop Creditors From Taking My Property?

01/26/11

No doubt you have heard the terms “unsecured” and “secured” creditors? But what do these terms really mean? In reality, the concepts are quite simple. First off, a creditor is generally someone who is owed money. A common example is when you take out a bank loan. Here you owe the bank a certain amount…

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Reaffirmation Agreements–What are they and why should I hope the Judge does not approve mine?

01/19/11

Sticking with our recent theme in blog entries, we decide to touch on reaffirmation agreements this week. Debtors who file a Chapter 7 bankruptcy in Arizona, and owe money on their house or car, are virtually certain to run across one or more of them. Leaving homes for another day, here is a quick rundown…

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