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It is completely understandable if you have debt you may not want other people knowing about it. After all, your debt is something that is a completely private matter between you and your creditor. Unfortunately, some debt collectors like to intimidate or guilt people into paying their debt(s) by threatening to tell other people about […]
Any individual or business residing, domiciled, or owning property or a place of business within the United States may file for bankruptcy. Meeting any one of these criteria is sufficient; there is no requirement of citizenship, or even insolvency, to file bankruptcy. In some cases a trustee may be able to file on behalf of […]
Much of society’s aversion to bankruptcy can be attributed to the intimidatingly complex process. Often people are afraid due to unfamiliarity with the financial aftermath of bankruptcy. In reality, bankruptcy is a potent and, at times, crucial remedy, the benefits of which can be seen across society as a whole. Consumers today are in a […]
Of course you have heard about “unsecured” and “secured” creditors, what is it that differentiates between the two terms? A creditor is somebody to whom money is owed. For example, when you owe the bank money because you have taken out a loan, they are then your creditor. We can separate creditors into two categories, “secured” and […]
There is not one straight answer on this one, it will depend on the details of your particular case. We will work through some of those possibilities here, and also be sure to speak with a Tucson bankruptcy attorney for your special case. There are many factors to consider before filing bankruptcy. Bankruptcy has numerous […]
It depends. In some cases, immediate filing may be in your best interest to avoid losing property. In many other cases, you may be better off waiting to file so that you ensure that you are able to come out of your bankruptcy with a fresh start, or to ensure you do not lose a […]
The bank has already started the foreclosure process on my home, is it too late to act? No. As long as the foreclosure process has not yet been completed, filing bankruptcy can stop the foreclosure process and allow the debtor an opportunity to bring the payments current and thereby “cure the default.” The right to […]
Some limited “exemption planning” is allowed in anticipation of filing. Exemption planning consists of arranging assets to fit into the allowed exemptions, thereby leaving less property to be used to satisfy creditors’ claims. This planning is completely legal if done reasonably. However, excessive transfers to create exempt assets or improper transfers to third parties: one […]