Disclaimer: Nothing contained in this blog or anywhere else on this website is intended as legal advice to be relied on. Every individual's or company's legal needs is unique. The law may apply differently, depending on your situation and what you are trying to accomplish. Always consult with a competent Arizona lawyer.

August 11th, 2012

Using Chapter 13 to Come Current With Mortgage Payments

Unlike a Chapter 7, a Chapter 13 provides the mechanism for a debtor to come current with overdue mortgage payments. But beware! If you lack regular monthly income and you refuse to curb your expenses, a competent Arizona bankruptcy lawyer will advise that Chapter 13 may end up being a waste of time and money.

August 4th, 2012

Baseball Star Lenny Dykstra Pleads Guilty to Bankruptcy Fraud For Failing to Disclose Assets

A competent Arizona bankruptcy lawyer will require their clients to disclose all bankruptcy assets. This is non-negotiable. Failure to do so will not only jeopardize the debtor obtaining a bankruptcy discharge, but may also land the debtor in prison for bankruptcy fraud.

June 28th, 2012

Timing is Crucial When Filing Bankruptcy!

Many Arizona bankruptcy lawyers used to advise that it wasn’t necessary to file a bankruptcy while a person was unemployed. Then Congress amended the Bankruptcy Code in 2005, and bankruptcy attorneys started singing a different strategy tune.

June 15th, 2012

Can I be Taxed if My Debt is Forgiven, such as in a Short Sale? If the Mortgage Forgiveness Debt Relief Act of 2007 Still Applies, Maybe Not!

If a debtor owes a debt to a creditor and the debt is cancelled or forgiven, the amount of the forgiven debt may be taxable income. The debtor should consult with a competent Arizona real estate lawyer or Arizona bankruptcy lawyer to determine if current laws will exempt such forgiven debt as taxable income. One wrong decision could cost you thousands and thousands of dollars in tax liability.

June 10th, 2012

Octomom Filed Chapter 7 By Herself — And Screwed it Up!

Even famous people think they know how to file their own bankruptcy. Paying $1,500 to a competent Arizona bankruptcy lawyer to discharge thousands and thousands of dollars of debt is a no-brainer. I guarantee you that you will pay more to fix your mistakes.

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