The purpose of the bankruptcy means test is to determine if your income level is low enough for you to file for Chapter 7 debt relief, or if you can file a Chapter 13 bankruptcy with less than a five-year repayment plan. If your income is above the median family income, you may not be able to file a Chapter 7 bankruptcy.
Ideally, this law prevents people from skipping out on paying debts when...Read More
Filing for bankruptcy is a complex process — you have to think about every aspect of your finances and how it could be affected by filing. Many people wonder how their tax refunds will be affected by filing for bankruptcy. It all depends on when the tax return is issued.
Typically a tax refund will be considered an asset during a Chapter 7 bankruptcy filing if you are entitled to receive the...Read More
If you’re thinking about filing for bankruptcy in Arizona and have done so before, you might be wondering, can you file bankruptcy twice? Many people in dire financial straits find themselves wondering, can you file bankruptcy twice, worrying that they are stuck in a bad situation without a chance for a clean slate.
Filing for bankruptcy in Arizona twice is possible, but there are strict...Read More
In some cases, when filing for bankruptcy in Arizona, you may be able to eliminate your income tax debt. This depends entirely on circumstances and can be complex, so it’s important to get in touch with a bankruptcy lawyer in Surprise, AZ to assist you in this process.
To have income tax debt discharged by filing for bankruptcy in Arizona, you must meet certain requirements. This means you...Read More
The phone rings and the hairs on the back of your neck stand up. You know it’s a creditor on the other end of that phone, and you can’t help but feel scared. Don’t let panic get the best of you. Take a moment to get a better of understanding of what creditors do and how a bankruptcy lawyer in Surprise, AZ can help.
The Role of the Creditor
A creditor holds the debt that you...Read More
Choosing a bankruptcy lawyer in Surprise, AZ is an important decision. After all, the right bankruptcy lawyer can make your Chapter 7 or Chapter 13 bankruptcy filing a success, while the wrong lawyer can leave you with all of the debt you started with, plus legal fees.
Fortunately, there are some tips you can follow when selecting a bankruptcy lawyer in Surprise, AZ. These tips will ensure...Read More
Many people are afraid of creditors. Because of that, they don’t answer letters or phone calls. Instead of hiding from creditors, it is time to learn how to deal with them. Doing so will make life much easier while you decide if you want to file Chapter 7 or Chapter 13 bankruptcy.
Don’t Be Afraid to Ask Questions
Some creditors use threats to scare people into paying. If a creditor...Read More
Bankruptcy is a reasonable option for small, unincorporated businesses that are facing financial problems. A bankruptcy lawyer in Surprise should be your first contact if you are considering filing for bankruptcy for your small business. An experienced attorney can explain chapter 13 and chapter 7 bankruptcy rules, and explain a chapter 13 repayment plan to you.
Chapter 7 Bankruptcy Rules for...Read More
Education is expensive these days and student loans are one of the debts that loom over consumers’ heads, forcing them into bad financial situations. As the cost of schooling rises, so does the number of people facing bankruptcy involving student loans.
A bankruptcy lawyer in Surprise can help you deal with bankruptcy filings that include student loan debt. Your lawyer will assist you with...Read More
When it comes to dealing with debts and payments, there are times when challenges become difficult to navigate without assistance. A bankruptcy lawyer in Surprise will help you face these problems.
As a consumer, you may not know when it is wise to file for chapter 7 bankruptcy or chapter 13 bankruptcy, and it can be hard to know what each actually entails. Here are the top three reasons to...Read More
By Larry Karandreas Tax debt can create a large financial impact on people’s lives. While you may be able to settle tax debt with the IRS, many times people do not have the cash to make a lump-sum settlement. When the IRS sets-up a payment plan, those plans can take years to complete, with interest accruing on the entire balance owed until paid off. Hiring a Phoenix Bankruptcy Attorney...Read More
Many times clients call me and ask if it is possible for them to negotiate with their creditors to avoid filing a Bankruptcy. My answer is usually yes, but they better have some cash. While you may not need an attorney to negotiate with your creditors, and may be able to avoid filing a Bankruptcy, you will need to negotiate lump-sum cash settlements with your creditors because the majority of...Read More