Bankruptcy Blogs

Bankruptcy and Divorce

04/16/24

Often, divorce proceedings and assets lost in a divorce can make it necessary to file for bankruptcy in Arizona. In fact, the Phoenix bankruptcy lawyers at EZ Legal Fees by EZ Legal Fees by WantAFreshStart know divorce is one of the more common reasons people choose to file. If you are still married, there are a number of factors to consider when determining whether to file for bankruptcy or divorce first – in addition to ways to make the process as easy on yourself as possible. You may wish to consider the following factors when facing bankruptcy alongside divorce.

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Bankruptcy Exemptions

04/16/24

Arizona Bankruptcy Exemptions

If you are filing for Chapter 7 bankruptcy, all the assets you need will likely be exempt. This means these assets will not be considered in the bankruptcy process. Your assets will be yours to keep. There are notable exceptions. For example,if you have jet skis and vacation homes, maybe not exempt. However, if you owe a reasonable amount on your home and car, probably exempt.

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Bankruptcy Means Test

04/16/24

The simplest way to define a means test is as an official assessment of and investigation into the financial circumstances of an individual. Means tests are used in the realm of bankruptcy to determine eligibility for a Chapter 7 filing in Arizona. But what exactly does a means test entail, and how does it affect your filing for bankruptcy? Our Phoenix bankruptcy lawyers can help answer these questions, among others.

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Bankruptcy and the Elderly

04/16/24

The Phoenix bankruptcy lawyers at EZ Legal Fees by WantAFreshStart understand that the aging process can be a financially difficult time. As we grow older, medical bills accrue and pensions have begun to decrease along with social security allotments. These factors, combined with disabilities common to the elderly, can preclude them from working, meaning that old age is one of the easiest times to fall into large debt. There are some benefits for seniors above other citizens when it comes to filing for bankruptcy in Arizona, and filing can help in many cases.

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Discharging Taxes

04/16/24

When it comes to discharging or eliminating tax debt in Arizona, there are many factors to keep in mind and a knowledgeable Phoenix bankruptcy lawyer at Want A Fres Start can help you every step of the way. For instance, many tax debts are exempt from discharge by design, and even if bankruptcy is successfully filed, they will need to be paid during or after the bankruptcy proceedings. There are, however, exceptions to this generalization, and some taxes can be discharged through the filing of bankruptcy if the circumstances are right.

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Will I Lose Everything in Chapter 7 Bankruptcy?

04/16/24

Many people who are considering bankruptcy are worried that filing for bankruptcy will leave them destitute and penniless. This impression tends to arise when people first start looking into bankruptcy and discover that the most common type of consumer bankruptcy, Chapter 7, involves the liquidation of a debtor’s nonexempt assets in order to pay his or her outstanding debts.

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Stop Creditor Harassment

04/16/24

There are laws and regulations in place to offer relief to those who find themselves overwhelmed by debt and to give them hope that a resolution can be found.  These laws also to preclude creditors and debt collectors from acting in a harassing manner toward those indebted to them; however, there are particular parties – such as first party or in-house collectors – exempt from many of these regulations.

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