Archive for the ‘Chapter 7 Bankruptcy’ Category

How to Survive on a Tight Budget

12 April 2013 by jacksonwhite  |  Bankruptcy Process, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Filing for Bankruptcy, General Bankruptcy, Money Saving Tips, Types of Debt  |  No Comments

Since most people in this world are not drowning in a bunch of extra cash lying around, we have to learn how to save and budget our money.  The following five tips will help you enjoy the pleasures of life while saving some dough. Plan out your life.  Decide what is most important to you.  Do you want to have the latest technology?  A decent amount of toys, such as, boats, cars, and quads?  Or do you want to live in a nice home, located in a safe neighborhood?  Whatever the case, you need to learn to have a balance…

Should I use a credit card after bankruptcy?

5 April 2013 by jacksonwhite  |  Bankruptcy Effects, Bankruptcy Process, Chapter 11 Bankruptcy, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit Score, Debt Collection Issues, Filing for Bankruptcy, General Bankruptcy, Types of Debt  |  No Comments

You might be thinking it is a bad idea to have a credit card after bankruptcy.  However, even though credit cards could have been your reason for filing bankruptcy, they are essential to use after this process in order to begin restoring your credit. Lenders, landlords, utility companies, insurance companies, and employers can look at your credit score to determine the amount you will be paying for loans. Since bankruptcy can destroy your credit score, it is necessary for debtors to restore their credit score.  If you don’t have a card, it will be impossible for you to score points. There…

Is it Possible to Stop Wage Garnishment in Arizona?

11 March 2013 by jacksonwhite  |  Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Judgment Creditors  |  No Comments

First, it is important to determine whether the source of your income is garnishable. For example, if your income is from unemployment or social security, your money is protected and you can get the creditor to stop the garnishment and possibly even return the funds. If your income is garnishable, the easiest way to stop wage garnishment is by paying the bill. However, you may not have the means to do so. Many people in Arizona are struggling to pay their bills right now. And when it comes down to feeding your family or paying the credit card bill, many…

Avoid loading credit cards before filing bankruptcy

4 February 2013 by jacksonwhite  |  Bankruptcy Process, Chapter 7 Bankruptcy, Filing for Bankruptcy, General Bankruptcy, Types of Debt  |  No Comments

Chapter 7 bankruptcy filings usually remove all credit card debts and other unsecured obligations.  So why not load up on merchandise before filing for bankruptcy?  There are several reasons why this is not the best idea. If you charge more than $1,150 within two months before filing, your trustee and the bankruptcy court may prohibit you from getting rid of that debt—even if it is unsecured—since those moneys appear to the court to be wasteful debt.  However, the court could pardon credit card purchases that were for medical bills or other urgent, nondiscretionary purchases. Try not to hide secured or…

CSI Star Gary Dourdan Files for Bankruptcy

5 December 2012 by jacksonwhite  |  Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Filing for Bankruptcy, General Bankruptcy  |  No Comments

Hollywood actor Gary Dourdan has recently filed for bankruptcy. Dourdan has starred in eight seasons of CSI: Crime Scene Investigation, but his disposable income is just $321. Dourdan has roughly $1.8 million in assets, but currently owes $1.73 million to various banks. Dourdan said he makes $14,883 per month, but $14,562 of it goes to bills. Dourdan’s financial issues began in 2010 when he was sued over credit card debt. Dourdan had to file an injunction back in August to stop Wells Fargo from auctioning off his California home. Immediately after he filed the injunction, he filed for bankruptcy. Even…

Russell Wasendorf Liquidates all his Assets in Bankruptcy

21 November 2012 by jacksonwhite  |  Arizona Bankruptcy Procedures, Bankruptcy Auction, Bankruptcy Process, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Collection Issues, Filing for Bankruptcy, General Bankruptcy  |  No Comments

Chief Executive of Peregrine Financial Group Inc., Russell Wasendorf is auctioning off his assets on December 5th to pay back customers and creditors of his failed brokerage. The court-appointed receiver spent nearly 4 months tracking down all of Wasendorf’s possessions, which include antique cars, snowmobiles, construction equipment, office equipment, restaurant equipment, personal furnishings, and 2,100 bottles of wine valued at $100,000. Bankruptcy offers individuals a chance to eliminate their debt by either liquidating all of their assets, like in Wasendorf’s case, or by reorganizing their debt into a manageable payment plan. Since Wasendorf chose to have all of his assets…

Debtor Education Course

15 November 2012 by jacksonwhite  |  Arizona Bankruptcy Procedures, Bankruptcy Process, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Duties of the Debtor, Filing for Bankruptcy, General Bankruptcy  |  No Comments

When you file for bankruptcy, you’re required to complete a debtor education course before the bankruptcy process is finished. The debtor education course is designed to help debtors plan for the future and avoid bankruptcy. The education course is two hours long and consists of discussions regarding budgeting, credit spending, and financial management. Once you’re ready to begin your debtor education course, you’ll need to have this information: Your mother’s maiden name. Your bankruptcy case number. Your bankruptcy Judicial Filing District. Filing for bankruptcy offers debtors a fresh start at life. Two bankruptcy options for debtors include Chapter 7 bankruptcy…

Medical Bills are the Leading Cause of Bankruptcy

1 November 2012 by jacksonwhite  |  Bankruptcy Process, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt Collection Issues, Filing for Bankruptcy, General Bankruptcy, Medical Bills  |  No Comments

When most people think of the word bankruptcy, they think of people racking up credit card debt by purchasing unnecessary luxuries that they can’t afford. There may be times where that’s the case, but the typical person filing for bankruptcy is filing because of the medical debt they’ve accumulated. The American Journal of Medicine stated in a 2009 study that medical bills were a main cause in 62 percent of bankruptcy filings. In fact nearly 75 percent of those who file for bankruptcy because of their medical expenses have health insurance. With all of the co-payments and deductibles, a serious…

Bankruptcy Attorney Uses Client’s Credit Cards

25 October 2012 by jacksonwhite  |  Arizona Bankruptcy Procedures, Arizona Bankruptcy Rules, Bankruptcy Fraud, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Choosing an Attorney, Discharge Violations, Filing for Bankruptcy, General Bankruptcy, Mistakes  |  No Comments

When a person decides to file for bankruptcy, they trust their attorney to guide them safely through the bankruptcy process and towards a new beginning. Unfortunately for one debtor, bankruptcy attorney Bradley Aubel saw bankruptcy as a chance to help himself instead of his client. Aubel and one of his employees decided to use their clients’ credit cards to make cash advances and to purchase personal goods and then have those debts discharged during bankruptcy. In addition to the cash advances, Aubel would use clients’ tax return information to make fax tax returns for himself in an effort to avoid…

The Most Common Types of Debt

15 October 2012 by jacksonwhite  |  Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Filing for Bankruptcy, General Bankruptcy, Types of Debt  |  No Comments

Debt can come in a number of forms for a wide variety of reasons. Most people think debtors file for bankruptcy because they buy all kinds of luxuries they can afford. That is not always the case. Below is a list of the most common types of debt that can be discharged in bankruptcy: Credit Card Debt Medical Bills Mortgage Debt Vehicle Loans Unpaid Tax Debt Personal Loans Debt occurs when a person is unable to make payments on loans or bills. Sometimes it’s due to a decrease in salary or the loss of a job. Bankruptcy is designed to…

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