Tucson Chapter 7 bankruptcy covers all debts which are owed except for those which are outlined in section 523(a) of the bankruptcy code. Here is a list of those debts: Certain taxes, IRS debt Debts which are not listed in the bankruptcy petition Most alimony, child support or other domestic support obligation debts Fines and penalties which are owed to the government Most student loans, unless the debtor can prove “undue hardship” (this is extremely difficult to do) Debts from driving while intoxicated Debts which...
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Not if you do what is required under section 366 of the bankruptcy code. This section of the bankruptcy law states that a utility company may not alter, refuse or discontinue service so long as you furnish “adequate assurance” of payment for services after the date of the filing of your bankruptcy. Adequate assurance of future payment includes a cash deposit, a letter of credit, a certificate of deposit, a surety bond, a pre-payment or another form of security that is mutually agreed upon between...
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Probably not. The Arizona bankruptcy laws state that up to $5475 used to purchase a tuition credit or certificate or contributed to an account in accordance with section 529 of the Internal Revenue code is not part of the bankruptcy estate so long as the money was contributed more than one year before the bankruptcy filing and the beneficiary on the account is a child, stepchild, grandchild or step-grandchild for the taxable year in which the funds were contributed. If you have contributed money to...
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When filing a tucson bankruptcy for the second time there are certain laws and limitations you must follow, click here to see them. Stephen Trezza
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Reaffirming credit card debt is almost NEVER a good idea, even the credit cards from a department store (like Best Buy which might give Best Buy a security interest in the purchased merchandise.) Creditors will offer reaffirmation agreements which will allow you to use the card after bankruptcy, however the credit limit will be low and you will have to sign a new contract agreeing to pay back the debt. Even though these offers seem attractive, they are most often a bad deal because a...
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Pleased to announce the re-birth and foundation of the Tucson Association of Consumer Bankruptcy Attorneys. We are back in business and had our first monthly meeting. I am very excited to be part of the process of connecting the tucson bankruptcy attorneys around the Tucson area. Luckily, we also get CLE for this association. We are an open group and open to any Tucson bankruptcy attorneys who may not already be part of the group. Please feel free to inquire, attorney7335@gmail.com
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I get this question often. Remember your motivation for filing bankruptcy in Arizona includes your desire for a fresh start. The mechanism by which you are granted a fresh start is called a “discharge order”. So the question really is what are the chances that I will not receive a discharge? The answer is that your chances are very slim so long as you are completely honest with your attorney and the trustee. Here are some typical reasons that a discharge is denied: You transfer...
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When you file bankruptcy everything that you own is included in a legal fiction called a “bankruptcy estate”. A bankruptcy estate is a concept, nothing is actually physically transferred to the bankruptcy estate when the case is filed but everything you own is considered to be in the bankruptcy estate for the trustee to administer. In many bankruptcy cases even though everything you own goes into the bankruptcy estate as the case progresses there will be a time when it is all “returned” to you...
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Usually, as long as your parents do not pass away 180 days past the date of filing, none of the trust's assets are at risk in the bankruptcy. To read more about this issue click here. Or consult a Tucson Bankruptcy Attorney.
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If you file for protection with a Tucson Bankruptcy Attorney then you must attend a 341 hearing, which is also known as a meeting of creditors. This hearing serves many purposes including giving your creditors an opportunity to question you about your financial affairs. However, it is very rare that any creditors actually appear at this hearing. So what actually happens at this meeting? Well, the first thing is verifying your identity by looking at your driver’s license/state id card and your social security card....
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