There are many myths about bankruptcy. Bankruptcy often has an aura of difficulty and confusion. We are here to tell you about the facts! For starters, bankruptcy courts are located all over the United States. Contrary to popular belief, bankruptcy is actually filed and handled in federal court and bankruptcy is based off of federal [...]
It used to be the case that older Americans were the most stable demographic in terms of finances. However, the last six years or so have made things more difficult for people over 50, and Arizona is no exception with its large numbers of retirees. AARP recently performed a study and found that the risk [...]
Residents of Arizona have not been immune from personal financial challenges caused by the struggling economy. Some have had to file for personal bankruptcy to stop foreclosure on their homes while others have participated in mortgage modification programs. Information is now coming out of foreclosure actions around the country revealing bank practices that have prevented [...]
Overwhelming debt brought about through unexpected life changes such as unemployment and illness or injury have caused many Americans to seek debt relief through personal bankruptcy. Some people have been lured by promises from debt settlement companies to eliminate debt quickly and easily without any negative effects. According to the National Association of Consumer Bankruptcy [...]
A story written on Forbes a while back questioned whether there is a distinction between good and bad credit card debt. For millions of American consumers who needed the assistance of a bankruptcy attorney to eliminate overwhelming credit card debt through personal bankruptcy, credit cards represent delinquent payments, creditor harassment and financial challenges they would [...]
The attention given to health reform in this country has focused on providing health care coverage to all Americans. Largely ignored has been the growing problem of people with health care coverage who are struggling with medical debt from expenses that insurance does not cover. Out-of-pocket medical costs are forcing people to cut back [...]
For many people, a college education and student loans have long been synonymous. With student loan debt now at approximately One Trillion dollars and income levels for college degree holders down 14.7 percent, the stage has been set for college graduates entering a struggling economy to be overwhelmed by financial challenges. For many of them, [...]
A recent study reported that a quarter of the population has borrowed from their retirement accounts. Borrowing from a 401(k) at an attractive interest rate to pay off high-interest credit card debt could make sense, but there are disadvantages. One risk is the loss of asset protection for the 401(k) in case of a personal [...]
The struggling economy, unemployment and unexpected life changes have been the cause of financial challenges for many Arizona residents over the past few years. Meanwhile, many college students have struggled with credit card debt that has caused some of them to file for personal bankruptcy, particularly as they have dealt with tuition and diminished job [...]
Events leading to the simultaneous collapse of the real estate and mortgage markets in 2008 and 2009 left many homeowners with new financial challenges created by an economic recession, high mortgage balances and declining home values. Some homeowners who needed to stop foreclosure and obtain manageable payments were able to obtain the fresh financial start [...]