Chapter 7

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Bankruptcy Facts and Myths

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 [...]

By |2015-11-13T19:13:04+00:00November 13th, 2015|Chapter 13, Chapter 7, Personal Bankruptcy|0 Comments

FILING FOR BANKRUPTCY MIGHT OFFER BEST SOLUTION TO ELIMINATE DEBT

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 [...]

By |2014-11-17T18:08:39+00:00November 17th, 2014|Chapter 13, Chapter 7, Personal Bankruptcy|0 Comments

CONSUMERS STRUGGLING TO MANAGE CREDIT CARD DEBT

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 [...]

By |2014-11-12T21:11:45+00:00November 12th, 2014|Chapter 13, Chapter 7, Personal Bankruptcy|0 Comments

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 [...]

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 [...]

Chapter 7 Or Chapter 13 For Homeowners

Arizona residents may be confused or misinformed about how owning a home affects their choice of filing a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. Some may assume that home ownership automatically disqualifies them from filing a Chapter 7. It is usually the equity rather than the home itself that disqualifies them, however.   [...]

IRAs Protected During Bankruptcy

In a case with implications for those filing bankruptcy in Arizona and across the nation, the Bankruptcy Appellate Court for the Eight Circuit agreed that individual retirement annuities were exempt from bankruptcy cases. In 2005, a new law was enacted to make it easier for creditors to recover the monies they were owed. However, some [...]

By |2014-04-28T17:28:08+00:00April 28th, 2014|Bankruptcy in Arizona, Bankruptcy News, Chapter 7|0 Comments