Phoenix Bankruptcy Law News

January 2013 Archives

How to Get Help With Bankruptcy

When bills pile up and money is tight, many people start to wonder how bankruptcy works and how to get help. But the right time to ask these questions is long before things get desperate.

Money struggles happen to everyone at some point in life. For people who have an on-call "family lawyer" or participate in a legal plan, it's easy to find answers to questions about bankruptcy without adding to your debt.

For others, it's not quite so easy, though there's a lot of information available online. Knowing some basics about bankruptcy, and what the process entails, is a good place to start.

Student Loans and Other Debts That Don't Go Away in Bankruptcy

Bankruptcy is supposed to be a fresh start but certain kinds of debt, most famously student loans, just won't go away.

The biggest benefit of bankruptcy is that most of your debt is cancelled by the end of the process. But if most of your debt falls under the category of "nondischargable," then filing may not help.

Before you make a final decision about bankruptcy, it's a good idea to talk to an attorney about your specific situation. But to get you started we put together a list of debts that you'd still be stuck with after bankruptcy, regardless of whether you choose Chapter 7 or Chapter 13.

How Does Bankruptcy Affect Your Credit Score?

It's no secret that bankruptcy is bad for you financially, but it's not always clear how much it will affect your credit score.

Your credit score is what financial institutions and landlords use to evaluate if it's a good idea to make agreements with you involving money. So knowing how to keep the numbers up is very important.

If you're considering filing bankruptcy or you already have, it's important to know what to expect when it comes to your credit score. It may not be happy news, but not knowing the facts will only make things worse.

Top 3 Bankruptcy Tips of 2012

With the economy still in shambles, bankruptcy is on many people’s minds. But is it the right move for you?

Over the past year, we’ve covered a number of alternatives to bankruptcy. Here are our top three tips of 2012. Hopefully, they’ll get you on the right track to financial recovery in 2013.

A bankruptcy judge has hit pause on video game maker THQ's bankruptcy case.

THQ planned to sell its assets to Clearlake Capital Group for $60 million. This week, however, U.S. Bankruptcy Judge Mary F. Walrath put the plan on hold by denying the sale, Gamasutra reports.

According to Walrath, THQ didn't make enough of an effort to market the company's assets before settling on Clearlake as the buyer.

Tribune Co. has had a rough four years. The company, which owns numerous television stations and newspapers, filed for bankruptcy back in 2008.

This week, Tribune announced that after four years, its restructuring is complete and it is exiting bankruptcy, the Chicago Tribune reports. It will be doing so with more than $1 billion in loans, a new board of directors, and an uncertain future.