There are several popular misconceptions about bankruptcy, especially surrounding restrictions the debtor will face in the years after filing. For example, many people believe that someone who files for bankruptcy is no longer able to purchase a home. But this is only true for a limited time frame after declaring bankruptcy. Once the applicable waiting [...]
Being out of work can be a very helpless and demoralizing feeling. Sometimes a termination comes as a shock, while at other times it can be an unfortunate but inevitable event after rumors have swirled. Even if it comes as a huge shock, your first order of business will probably to be to get back [...]
Now that the dust is finally settling from the COVID-19 pandemic, companies across a variety of industries are declaring bankruptcy. With the current state of the economy, countless factors could push a business into bankruptcy court. Some companies can keep their financial affairs under wraps until the petition is filed, while others will hear rumors [...]
Bankruptcy has many unearned reputations, like it is only used by people who are financially irresponsible or that a bankruptcy debtor must give up all of their assets. Another common misconception about bankruptcy is that it is always a complicated and stressful ordeal. There are a few reasons these rumors spread. Big companies have an [...]
Bankruptcy can be a powerful tool to manage debt, but it is most effective when prepared and strategized for correctly. One of the many important parts of your bankruptcy that can require preparation is your 341 Meeting of Creditors. This is a hearing you are required to attend whether you declare Chapter 7 or Chapter [...]
How Could Bankruptcy Help You Deal With The Economic Impact Of The Housing Crisis In Phoenix? Arizona’s housing market is mirroring trends currently seen across the country. Home prices are soaring, and so is rent. Anyone who wasn’t in a position to buy a home a few years ago probably can’t do it with [...]
Our Phoenix Bankruptcy Lawyers Take a Look At Family Member's Credit Card Debt Debt collectors use clever and creative ways to collect on bills, but they aren’t always the most scrupulous methods. Sometimes, debt collectors will realize in advance that a debtor is never going to pay off their balance, and attempt to get [...]
What Is The Difference Between Offer In Compromise & Bankruptcy? Millions of Americans were struggling with the pandemic, which has only exacerbated that problem. As special pandemic protections for those struggling with debt begin to expire, it’s time to start planning your financial strategy post-COVID. Depending on your specific circumstances, you may be eligible for [...]
Chapter 7 Bankruptcy Means Test: Everything You Need To Know If you’re considering filing for bankruptcy, there’s a chance that you have already heard of the Means Test. The means test is a way to calculate how much income you have available to hypothetically pay your debts. It is relevant in both Chapter 7 [...]
Does Bankruptcy Clear Tax Debt? Owing money to the IRS is a situation that no one wants to be in. If you find yourself owing significant tax debts, you may be considering bankruptcy as a solution to your financial problems. If so, it’s important to understand whether your tax debts can be discharged in [...]
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