Does Higher Consumer Spending Amount to Increased Bankruptcies? A June report from the Arizona Department of Revenue, which keeps track of consumer spending that the government can tax, put the total expenditures on taxable items in May of 2011 at $4.01 billion. This is a return to pre-recession levels, and for many businesses is a […]
When you file for bankruptcy protection, can you “cancel” or “change” your case once you have submitted your petition to the court? That may depend. Unfortunately for many filers, there is no way to undo a filing. Whether you can dismiss your case depends on the Bankruptcy Chapter within which you file. After filing, you […]
According to the Census Bureau, 7% of divorce decrees include a provision for alimony or spousal support. When your spouse, who owes you alimony or support files for bankruptcy, it may lead you to wonder whether you can still collect. For the party receiving alimony, those payments are considered income under your bankruptcy estate. When […]
There are hundreds of thousands of bankruptcy petitions filed every year in America. A major disagreement in the area is whether or not many of these bankruptcy filings are fraudulent. About 95% of all bankruptcies are filed by individuals every year. Most consumer bankruptcy filings are Chapter 7 filings, usually about 65%. Additionally, many filers […]
Bankruptcy Myth #7: I must be a US citizen to file for bankruptcy. Also, if I file for bankruptcy I will not be considered for citizenship. Both of these myths are completely false. First, there is no requirement that you be a US citizen to file for bankruptcy. In reality the only requirement you need […]
Are you thinking about filing for Bankruptcy? Don’t fall for these Bankruptcy myths! In Part I of this feature we explored three common bankruptcy myths. Here we explore a few more common bankruptcy myths that are floating around online. Bankruptcy Myth #4: It is simply just too expensive to file for bankruptcy. I won’t be […]
Filing Order – Bankruptcy or Divorce? Bankruptcy and divorce often go hand in hand – sometimes, the financial strain of divorce and support obligations leads to the filing of a bankruptcy action. Other times, the stress of financial crisis, which often precedes bankruptcy, may lead to additional strains on a marriage. In some situations, when […]
Filing for Bankruptcy may seem like a complex process. The average person probably knows very little about bankruptcy. But the process doesn’t have to be scary. There are certified Arizona Bankruptcy Attorneys who can help you through this process. However, whether you are thinking about filing for bankruptcy or are in the process of filing […]
If you are getting calls from the utility company for past due bills you may wonder how bankruptcy will affect those services. Will my utility company be mad at me for filing bankruptcy? Will they turn of my electricity, water, gas and telephone? No! There are certain restrictions on utility service providers that restrict their […]
Giving to charities and religious institutions is an important part of many people’s lives. Giving is an important spiritual component in many religions and plays an important role in funding a variety of important social projects. It is important to know that Congress has recognized the importance of such charitable donations and has allowed persons […]
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