Tucson Bankruptcy Archives

Can the Trustee Really Take My Wedding Rings?!

May 31, 2014 | by trezza_admin | Stephen Trezza, Tucson Bankruptcy, Tucson Bankruptcy Attorney

The answer to this is no…and yes. In Arizona, wedding rings are exempt up to $2,000. This means that for both you and your spouse, you can exempt a total of $2,000 of the value of your wedding rings. For most people, this is more than enough to keep their rings safe. But what if, during better economic times, you purchased more expensive jewelry? Technically, the Trustee can have you turn over your jewelry. Does this happen often? No. Could it? It could.

Bankrupcty Discharge

February 24, 2014 | by trezza_admin | Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

The ultimate goal of your chapter 7 or 13 bankruptcy is receiving a discharge from the court. In a chapter 7 bankruptcy this occurs after your paperwork is filed, the meeting of creditors is held, the time period has passed for any creditors to object to a discharge, and you have completed your required financial education course.

Understanding the Bankruptcy Estate

January 24, 2014 | by trezza_admin | Trezza and Associates, Tucson Bankruptcy

Once you file for bankruptcy, there are two things that automatically occur: the automatic stay springs into effect to prevent your creditors from collecting, and the bankruptcy estate is created. The bankruptcy estate defines the nature of your assets by the date and time that you filed for bankruptcy. Money earned immediately before filing for bankruptcy is considered property of the estate, while money earned after filing your petition is not a part of the estate.

Understanding Schedules G, H, I and J in Bankruptcy

December 9, 2013 | by trezza_admin | Tucson Bankruptcy

Understanding Your Bankruptcy Filing: Schedules G, H, I, and J
In our last several blog posts, we have covered the types of information that are needed when you file your bankruptcy petition. We discuss the final schedules included in your petition in this article.

Bankruptcy Filing – Property Exemptions and Schedule C

September 19, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

In our previous post we discussed the bankruptcy petition, the Schedule A listing of real estate/property and the Schedule B listing of personal property. In this post we will discuss property exemptions (Schedule C). Under federal and state bankruptcy laws, there are categories and amounts of property that are exempt from the bankruptcy process. […]

Understanding the Bankruptcy Forms

September 10, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Bankruptcy Cases, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

Part of our commitment as bankruptcy attorneys is to inform and educate clients about the bankruptcy process. As a part of the client-attorney team, it is important for you to understand the forms you sign as part of your bankruptcy case. You are required to sign many of the forms we will file and […]

Planning Your Exemptions In Bankruptcy

August 28, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Bankruptcy Cases, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

Bankruptcy laws provide for you to exempt property from the bankruptcy process that is necessary for you to get a fresh start. In handling your bankruptcy case, we will need to take into consideration how long you have lived in Arizona to effectively plan your property exemptions. Some states will allow you to […]

Decisions Made in Setting up Your Bankruptcy Strategy

August 26, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Bankruptcy Cases, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Tucson Bankruptcy, Tucson Bankruptcy Attorney

When you have decided to file bankruptcy there are certain issues that need to be determined prior to your filing. As your Arizona bankruptcy attorneys, we will discuss the strategies involved in filing that will be of the most benefit to you and your spouse or family, if applicable. Should Both Spouses File Bankruptcy? […]

Choosing the Right Type of Bankruptcy

August 14, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

An important part of making your decision to file bankruptcy is deciding which type of bankruptcy is right for you. For the most part you will be making the decision to file chapter 7 or chapter 13. Although it is possible to “convert” or switch from chapter 7 to chapter 13 or vice versa, it […]

Advantages and Disadvantages of Bankruptcy

July 12, 2013 | by trezza_admin | Arizona Bankruptcy, Arizona Chapter 13, Arizona Chapter 7, Phoenix Bankruptcy, Phoenix Bankruptcy Attorney, Trezza and Associates, Tucson Bankruptcy, Tucson Bankruptcy Attorney

Advantages of Bankruptcy As part of our work with clients considering bankruptcy, we want to make sure you understand all of your options. When you are faced with stress and overwhelming debt, bankruptcy can be one option that can quickly end creditor harassment. When you file for bankruptcy, your creditors must stop calling or […]