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Category Archives: Arizona Personal Bankruptcy Information

Bankruptcy can be a complicated topic.  If you are considering bankruptcy, you likely have many questions.  We periodically publish posts discussing questions we get from our clients on a regular basis.  In this section, we address issues encountered most often by our Tucson and Mesa clients considering personal bankruptcy,  such as Chapter 7 or Chapter 13.

Do I Qualify for Chapter 7 Bankruptcy?

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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How Long Does a Bankruptcy Case Take?

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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Also posted in Arizona Business Bankruptcy Information | Leave a comment

Did You Know that You Can Keep Assets after Filing Bankruptcy?

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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Also posted in Life After Bankruptcy | Leave a comment

Facing Bankruptcy in Tucson?

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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Filing for Bankruptcy in Tucson – Now What?

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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Taking the Necessary Steps to Prevent Bankruptcy

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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Also posted in Finances and Debt | Leave a comment

Bankruptcy Myths and Misconceptions

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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Debt Settlement vs Bankruptcy: Pros and Cons

If you are struggling with debt that you cannot pay, you have probably been told, or have read on the internet, that two of the ways to deal with the debt is through either debt settlement or bankruptcy.  You have probably also read different opinions as to which one is better.  The truth is that […]

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Can I Keep My Car in Chapter 7 Bankruptcy?

Many people incorrectly think that if they file for bankruptcy, they have to give up everything they own, including their car.  This is not correct.  Under both the bankruptcy law and Arizona law, a person filing for bankruptcy can keep many types of property, up to a certain value.  These are called exemptions (See What […]

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How to Stop a Wage Garnishment Right Now

Have you received a notice from your employer that your wages are about to be garnished?  Or, was your last paycheck garnished without you even knowing it would happen?  In Arizona, a creditor can take up to 25% of your wages through garnishment. So if a garnishment happens unexpectedly, it can seriously hinder your ability […]

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Also posted in Finances and Debt | Leave a comment