Welcome to Bankruptcy Guide
Arizona Bankruptcy Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
The Bankruptcy Attorney – When Experience Counts Twice
from:The bankruptcy attorney can seem like a confidante when you first meet him or her, because you will be sharing your personal financial details. Normally, these kinds of details are the kind people try to hide from the world for as long as possible. But when the debt burden becomes unbearable, it’s good to have a professional on your side as you deal with the complexities of the bankruptcy laws.
The very first decision an attorney will help you make is whether you should file bankruptcy at all. In some situations, other remedies are possible including selling assets or downgrading your lifestyle. But when that’s not possible, the second decision the attorney will help you make is deciding which bankruptcy chapter best fits your situation. The personal bankruptcy chapters are 7 and 13. Under chapter 7 you wipe out most debt. Under chapter 13 you set up a debt repayment plan through the court.
Once your bankruptcy attorney and you decide that filing is the right course of action, the next step is to actually record the petition in court. Your attorney will take care of this step and all other legal filing requirements. But after the filing you will discover an attorney specializing in bankruptcies can offer a number of other services.
The bankruptcy attorney is prepared to handle any and all special issues that arise during the bankruptcy process. For example, if you owe the Internal Revenue Service there are specific forms which must be filed in order to request IRS approval of tax debt elimination. The IRS will respond by indicating which debts can be included in the bankruptcy. Other special issues include business related debts, medical bills and the state and local debt laws that must be balanced with federal laws.
When you file a bankruptcy, it also helps to have an attorney that is trusted by the courts. Experience counts in court and a recognized and knowledgeable attorney is able to handle any court requirements. When you file bankruptcy, the court appoints a trustee to represent the court. The trustee reviews the attorney’s filings and can ask any questions that he or she sees fit to ask about your financial status. Your bankruptcy attorney can guide you through the process.
Your bankruptcy attorney also deals with creditors once the bankruptcy is filed. You virtually have no more contact with debt collectors and all debt collection efforts are referred to your attorney. This alone is a valuable service, because the attorney understands laws related to debt collection and is not cowed by collection efforts.
Even after you have completed your bankruptcy, the attorney who is an expert in bankruptcies can guide you on ways to re-establish your credit. This advice is valuable, because a bankruptcy stays on your credit record for 10 years. Therefore, establishing good credit is important, because your life will not be on hold for 10 long years.
A bankruptcy attorney is a person who will guide you through the entire bankruptcy process from initial financial status review to generating new credit after the bankruptcy is completed. If you are considering filing bankruptcy then your very first call should be to a bankruptcy attorney.
Arizona Bankruptcy News
Playoffs Lure Coyotes Buyer as Losses Force City to Fire Workers
The city of Glendale, Arizona, celebrated a decade ago when the National Hockey League’s Coyotes abandoned downtown Phoenix for a taxpayer-funded suburban arena surrounded by a sports and entertainment complex.
Read more...Arizona Attorney Receives National Distinguished Service Award
Jonathan Frutkin, the First Arizona Recipient, is Recognized at the 20th Annual NACBA Convention (PRWeb May 07, 2012) Read the full story at http://www.prweb.com/releases/2012/5/prweb9473460.htm
Read more...Debt Settlement Law Firm McCarthy Law PLC Expands Into Southern California
Offering Debt Relief in Arizona and, now, California with Offices in Los Angeles, Manhattan Beach and San DiegoLos Angeles, CA (PRWEB) May 17, 2012 In addition to their office in Arizona, McCarthy Law now has three offices in Southern California. Residents seeking relief from debt burdens—in both Los Angeles and San Diego Counties— can now find McCarthy Law at three different locations in the ...
Read more...Illinois Ponzi scheme fugitives caught in Arizona
Acting on a tip, U.S. marshals in Arizona put an end to an Illinois couple's life on the lam, a dozen years after they fled punishment for running a Ponzi scheme that targeted friends, the elderly, and even family members, authorities said.
Read more...Phoenix-area bankruptcy filings fall in April
Bankruptcy filings in the Phoenix metropolitan area in April fell 27 percent from the same month in 2011.
Read more...High court says farmers must pay bankruptcy tax
WASHINGTON, May 14 (UPI) -- The U.S. Supreme Court ruled 5-4 Monday to make it tougher for bankrupt farmers to get out from under U.S. taxes.
Read more...Advantage CCS is Proud to Offer a Telephone Bankruptcy Education Class for Consumers in Need of a Pre-Discharge ...
Consumers that need to take a pre-discharge bankruptcy education class to fulfill a requirement of the Federal Bankruptcy Law, can now do so through a telephone class offered by Advantage Consumer Credit Counseling Service, Inc. in all 50 states; excluding Alabama, North Carolina and Oregon.Pittsburgh, PA (PRWEB) May 21, 2012 Advantage CCS is excited to announce a new telephone service that will ...
Read more...Phoenix Attorney Ranked Among Top Lawyers in the State
Jonathan Frutkin Named Rising Star in Business/Corporate LawPhoenix, Arizona (PRWEB) May 15, 2012 Arizona Business Law Attorney Jonathan Frutkin of The Frutkin Law Firm has been named one of the top attorneys in the state for 2012 by Arizona Super Lawyers & Rising Stars. The annual list honors only 2.5 percent of the lawyers in the state. Arizona Super Lawyers is a rating service of outstanding ...
Read more...