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 [...]

Payday Loans In Arizona May Create Financial Challenges

For years, Arizona workers have used payday loans to meet unexpected financial challenges that cannot wait until the next paycheck. The loans are readily available from check cashing agencies or finance companies but come at a high cost, particularly when the loan is not paid when it is due. For some borrowers, the costs of [...]

By |2014-08-05T21:56:12+00:00August 5th, 2014|Bankruptcy in Arizona, Personal Bankruptcy|0 Comments

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 [...]

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 [...]

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+00:00July 13th, 2014|Chapter 13, Personal Bankruptcy, Student Loans|0 Comments

Does Bankruptcy Sway Lenders to Modify Mortgages

Arizona residents who are looking to modify their mortgage may have experienced difficulty getting a loan modification even after filing for Chapter 7 bankruptcy, which recognizes that people have unsecured debts and discharges them of those debts. However, people may still file Chapter 13 after they have already filed Chapter 7.   Chapter 13 bankruptcy [...]

Loan Modifications During Bankruptcy

When someone files for Chapter 13 bankruptcy in Phoenix, they might wonder if they should seek a loan modification, especially if they are offered a low interest rate. While lenders infrequently approved loan modifications between 2008 and 2011, consumers filed Chapter 13 bankruptcy in order to catch up on their house payments. However, many of [...]

By |2014-06-07T18:36:28+00:00June 7th, 2014|Chapter 13, Loan Modification|0 Comments

Bankruptcy and Taxes

While bankruptcy has traditionally been an option for Americans in Arizona and across the nation, it was mostly used by businesses since the public didn't usually have access to debt.  However, when debt was offered to citizens after World War II, more people found they couldn't meet their financial obligations and needed to rely on [...]

By |2014-06-05T08:28:19+00:00June 5th, 2014|Chapter 13, Tax Debts|0 Comments