Bankruptcy discharges most unsecured debt. Student loans are not dischargeable, unless you file a lawsuit in the bankruptcy and prove that the debt is causing an undue burden. This may have gotten a little easier based on new guidance.
Proposition 209 was an Arizona initiative that was overwhelmingly passed by the voters. Although it increased the Arizona exemptions, it has caused confusion.
A revocable living trust is frequently unnecessary for modest estates, but everyone should at least have a Last Will and Testament, a Healthcare Power of Attorney, and a Durable Financial Power of Attorney.
Amendments to the Bankruptcy Code in 2005 limit the number of bankruptcies a person can file. You must consult with an Arizona bankruptcy lawyer to determine whether you are eligible to file again.
When you file bankruptcy, you receive a discharge. Your creditors can no longer come after you. But your ex-spouse may come after you if the creditors now collect from him. An Arizona bankruptcy lawyer will advise that you can also discharge some of your divorce decree obligations to your ex if you file the correct bankruptcy under Chapter 13.