Bankruptcy – the Short and Sweet Definition According to the federal laws of these United States, bankruptcy is simply this: “…a legal process designed to help individuals and businesses either eliminate their debts or repay them…” Take note of the word “help” because that’s exactly what bankruptcy is meant to do. Bankruptcy is a legal […]
Filing Bankruptcy in Arizona
Browse articles below for more information about filing bankruptcy in Arizona.
Many debtors incorrectly view bankruptcy as a magic button – press it and all their debts go away. Although bankruptcy can be a powerful tool when appropriately used, not all debts are dischargeable in a bankruptcy. For more information on what types of debts are not dischargeable, click here. If a debtor files bankruptcy because […]
Oftentimes bankruptcy proceedings involve a debtor (the individual who owes money) who has fraudulently borrowed money prior to filing bankruptcy but is attempting to scrub that debt off. If a borrower can prove that the debtor fraudulently borrowed the money, a court may not allow the debtor to discharge that debt through bankruptcy. The particular bankruptcy […]
IRS Back Taxes and Bankruptcy – Yes, They Might Be Dischargeable! Most people believe that any IRS tax debt can never be discharged in a bankruptcy – but like many terrifying myths that surround bankruptcy – this isn’t always true either. Back in 1966, there was an addition to the Bankruptcy Code that allowed some […]
Bankruptcy and Your Social Security Income – Can I Still File? When people aren’t working, either because they are retired or because they are disabled, finances becomes an all-too-common struggle. The majority of the time, Social Security doesn’t cover what people really need to live on, and when you aren’t able to work – the […]
Bankruptcy – You WILL Have Great Credit Again – Sooner Than You Think! Raise your hands – everybody who thinks bankruptcy somehow spells the end of your good reputation. How many of you think that bankruptcy dooms any hope that you’ll ever attain a decent FICO score again – or a car or a home […]