Bankruptcy is designed to give individuals and businesses a fresh financial start. However, another purpose of bankruptcy is to ensure that the creditors are treated fairly. Therefore, the Bankruptcy Code gives the creditors a right to participate in the bankruptcy. Most debtors who are represented by a bankruptcy lawyer will never have to personally deal […]
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In a recent year, more than 477,000 consumers and businesses filed for Chapter 7 bankruptcy in United States Bankruptcy Courts across the country. This type of bankruptcy is faster than Chapter 13, so consumers can move forward with a clean slate much sooner. However, bankruptcy law prohibits just anyone from filing a Chapter 7 case […]
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When you make the decision to file bankruptcy, it is important that you understand how the process generally works. One of the first questions we hear is, how long will the bankruptcy case take to be resolved? It is understandable to want to know how soon you might receive a discharge of your debts and […]
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United States bankruptcy law isn’t designed to leave petitioners in a worse position than when they sought relief. This would only perpetuate further financial struggles and bankruptcy. Instead, filing for bankruptcy is often the first step in achieving financial freedom. Only one type of bankruptcy, Chapter 7, actually forces the liquidation and distribution of your […]
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For those who have fallen behind on their mortgage payments as a result of the coronavirus pandemic, the CARES Act passed by Congress in March 2020 may offer you protection. The protections and scope of this law are explained below: What mortgages are covered under the CARES Act? In order to be covered under this […]
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With millions of people currently out of work due to the coronavirus pandemic, many people are falling behind on their rent payments, and are worried about eviction. The good news is that the recently-passed CARES Act imposes a moratorium (pause) on evictions due to non-payment of rent or other charges. The moratorium does not cover […]
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Although commonly seen as a last resort, bankruptcy is actually a new beginning. Bankruptcy protections were written into the United States Constitution because they provide struggling Americans with an avenue to financial freedom. Many Tucson residents and businesses are considering filing for bankruptcy in Arizona, and there are multiple types of bankruptcy designed to address […]
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When you make the important decision to file for bankruptcy, you must start your case by filing a petition with the proper bankruptcy court. The petition and supporting documentation are extensive, and once they are filed, what can you expect next? While each case is different, the following is a general idea of the path […]
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Bankruptcy laws provide debt relief for consumers in the Phoenix area, the State of Arizona, and across the United States. However, with the benefits of bankruptcy also come requirements that must be met in order to qualify. In addition, bankruptcy can have drawback, such as the potential impact on the credit score, and loss of […]
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There are several myths and misconceptions about bankruptcy floating around the internet. Some of them are spread by creditors and companies trying to sell “debt settlement” services. Others stem from common misunderstandings of the bankruptcy laws. This article discusses and dispels the most common bankruptcy myths and misconceptions. Myth 1: It is very difficult to […]
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