Most unsecured debts, such as credit cards, medical debts, repossessions, etc. can be eliminated in a chapter 7 bankruptcy. However, some debts will survive a chapter 7 bankruptcy. The following are a few examples: Most Taxes Criminal Fines and Restitution Domestic Support Obligations (Child Support, Alimony, etc.) Student Loans (in [...]
What is the Chapter 7 Meeting of Creditors? If you have been looking into filing a chapter 7 bankruptcy, you may have come across the 341 Hearing, or Meeting of Creditors. When you hire us to represent you in your bankruptcy, we handle every aspect of your case, including preparation [...]
First, you need to determine if chapter 7 bankruptcy is right for you. This type of bankruptcy eliminates most unsecured debts such as credit cards, personal loans, medical debts. Filing invokes a court order called the automatic stay, which stops all creditor activity against you, including wage garnishments. Click the [...]
The short answer is yes. The Automatic Stay Filing bankruptcy invokes a court order called the automatic stay. This order prevents creditors from continuing or initiating any debt collection activities against you. This includes telephone calls, emails, letters, lawsuits, or any other type of communication. The order is sent to [...]
Life happens. Oftentimes, financial hardship can hit a person more than once during a lifetime. If you have filed bankruptcy before, and debt is piling up again, bankruptcy is probably still available to you as an exit strategy. So, the question is, how many times can you file bankruptcy? As [...]
Paying off Debts to Family Members and Close Friends When a person falls on hard times, family and close friends are often there to lean on. They may provide loans to see you through a rough patch. However, repayment of such loans leading up to filing bankruptcy can be disastrous. [...]
The short answer is, probably not. Arizona law provides an exemption for, "All firearms of not more than an aggregate fair market value of two thousand dollars." So, if your collection of firearms is worth $2,000 or less, you will be able to keep them in a chapter 7 bankruptcy. [...]
So, you've moved to Arizona recently, but you want to file a chapter 7 bankruptcy. Can you? As with every legal question, the answer is: "It depends." To file a chapter 7 bankruptcy in Arizona, you just need to have resided here for the majority of the past 180 days [...]
When you file a bankruptcy, it creates a bankruptcy estate, which consists of everything that you own. State and federal law allows you to protect certain property from your creditors and from sale during the bankruptcy case. These laws are called exemptions. In Arizona, the Arizona exemptions apply, as long [...]
It can be hard to make ends meet under normal circumstances. In Arizona, creditors can garnish up to 25% of your take-home pay, depending on the type of debt. If you're already living paycheck to paycheck, wage garnishment be disastrous. Luckily, filing bankruptcy can stop most garnishments. When you file [...]
It is rare for a person to lose a house in an Arizona chapter 7 bankruptcy case. That's because the exemption for most people is $250,000 of your house's equity (A.R.S. § 33-1101). If your home's value, less any mortgages, is $250,000 or less, there's a good chance you will [...]
Arizona law allows you to keep $300 in one bank account. A.R.S. § 33-1126(A)(9). This only applies to the day that your chapter 7 bankruptcy petition is filed. It is important to note that that the law does NOT allow you to just withdraw cash to get under the $300 [...]
ARS § 33-1125(8) allows you to protect, "equity in one motor vehicle of not more than six thousand dollars. If the debtor or debtor's dependent has a physical disability, the equity in the motor vehicle shall not exceed twelve thousand dollars." If you are married, you can double this exemption [...]
When filing for Chapter 7 bankruptcy, you do have some options when it comes to your vehicle. If you are in good standing with the payments on the vehicle you are purchasing and would like to continue making payments, you may be able to enter into a reaffirmation agreement with [...]
