What Happens When Someone Files For Bankruptcy

When someone living in Arizona files for bankruptcy, they are often doing so because of costly medical bills, having been laid off from a job or simply having a large amount of unsecured debt. There are enormous benefits to filing for personal bankruptcy, but it is not without its costs. After filing, people may need [...]

By |2014-09-09T22:23:54-07:00September 9th, 2014|Bankruptcy in Arizona, Chapter 13, Chapter 7, Personal Bankruptcy|Comments Off on What Happens When Someone Files For Bankruptcy

Financial Challenges Associated With 401(k) Loans

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 [...]

By |2023-02-01T10:54:58-07:00August 20th, 2014|Bankruptcy in Arizona, Chapter 13, Chapter 7, Personal Bankruptcy|Comments Off on Financial Challenges Associated With 401(k) Loans

College Students Increasingly Struggle With Credit Card Debt

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 [...]

By |2014-08-09T06:47:43-07:00August 9th, 2014|Bankruptcy in Arizona, Chapter 13, Personal Bankruptcy, Student Loans|Comments Off on College Students Increasingly Struggle With Credit Card Debt

Arizona Attorney General Sued Companies Over Broken Debt Relief Promises

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 [...]

By |2023-02-01T10:54:47-07:00August 4th, 2014|Bankruptcy in Arizona, Bankruptcy News, Chapter 13, Loan Modification|Comments Off on Arizona Attorney General Sued Companies Over Broken Debt Relief Promises

Expected Doctor Shortage Adds to Consumer Concerns

People in need of medical care in Arizona and other states might have difficulty finding a doctor in the future. Reports point to a 90,000 shortage in the number of doctors needed in the U.S. by 2020. For people now struggling with overwhelming medical debt, worries about a future shortage of doctors is just another [...]

By |2014-08-01T21:17:25-07:00August 1st, 2014|Chapter 13, Chapter 7, Medical Debts, Personal Bankruptcy|Comments Off on Expected Doctor Shortage Adds to Consumer Concerns

Fewer Arizona Homeowners Have Seriously Delinquent Mortgages

  The good news for Arizona homeowners is that foreclosure rates declined significantly. And according to reports, there are now fewer Arizona homeowners who are seriously late on their mortgage payments. The report considers houses that are not yet listed for sale, but that are more than 90 days delinquent on mortgage payments and in [...]

By |2014-07-31T21:44:37-07:00July 31st, 2014|Chapter 13, Phoenix Bankruptcy, Real Estate|Comments Off on Fewer Arizona Homeowners Have Seriously Delinquent Mortgages

Chapter 7 Versus Chapter 13 Bankruptcy In Arizona

Many Arizona citizens are familiar with the general concept of bankruptcy, but are not sure exactly what the process entails. Federal law includes two different statutes that allow consumers to receive debt relief by filing for bankruptcy. These are called Chapter 7 and Chapter 13 bankruptcy. A person's credit report will be affected for 10 [...]

By |2023-02-01T10:25:10-07:00July 30th, 2014|Bankruptcy in Arizona, Chapter 13, Chapter 7, Personal Bankruptcy, Student Loans|Comments Off on Chapter 7 Versus Chapter 13 Bankruptcy In Arizona

Chapter 13 Could Affect Your Income Tax Refund

Tax season comes every year, but the real work for the IRS begins as April 15 creeps closer and the flood of last-minute tax returns hits the system for processing. Arizona taxpayers who file an error-free return should get a refund within 21 days. There might be a delay in processing the refund if the [...]

By |2023-02-01T10:58:54-07:00July 15th, 2014|Bankruptcy Attorneys, Bankruptcy in Arizona, Chapter 13, Personal Bankruptcy|Comments Off on Chapter 13 Could Affect Your Income Tax Refund

Student Loans Do Not Follow Traditional Loan Regulations

Students who acquire student loans need to be aware of the ways in which student loans are differentiated from traditional loan products. Almost two thirds of the students in America, including those in Arizona, will take out student loans to finance their education. Many students are encouraged to do so. However, student loans are based [...]

By |2014-07-13T05:02:32-07:00July 13th, 2014|Chapter 13, Personal Bankruptcy, Student Loans|Comments Off on Student Loans Do Not Follow Traditional Loan Regulations

Credit Reporting Data Needs To Be Checked After Bankruptcy

When Arizona residents file for bankruptcy, one of their first concerns is how to repair their credit rating. One of the main goals of personal bankruptcy is to get people out of a bad financial situation, and eliminating debt can give people a clean slate. This is why it is essential for people to check [...]

By |2014-07-01T06:18:39-07:00July 1st, 2014|Bankruptcy in Arizona, Bankruptcy News, Chapter 13, Chapter 7, Personal Bankruptcy|Comments Off on Credit Reporting Data Needs To Be Checked After Bankruptcy
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