Phoenix Bankruptcy Law News

Other Bankruptcy News in Phoenix

In addition to filing for bankruptcy under statutory methods, such as Chapters 7, 11, and 13 of the U.S. Bankruptcy Code, the topic of bankruptcy can cover a whole host of issues. Other bankruptcy news issues of interest include consumer confidence, company layoffs and the unemployment rate.

This section will cover all of the miscellaneous economic issues that may have an impact on bankruptcy statistics and the laws that govern bankruptcy. If you have additional bankruptcy questions, you should contact a Phoenix Bankruptcy attorney to get more detailed information about the bankruptcy process.

Recently in Other Bankruptcy News Category

3 Lessons From Mt. Gox Bankruptcy

Mt. Gox was a leading Bitcoin exchange that recently filed for bankruptcy protection, TechCrunch reports.

Though the company filed for bankruptcy in Japan, its filing serves as a cautionary tale to business owners in the U.S. about bankruptcy issues that come with entering highly volatile financial arenas of business.

Here are three legal lessons from Mt. Gox's bankruptcy filing:

Bankruptcy Filings Lowest in Years, Who Still Needs to File?

Good news for Arizona -- bankruptcy filings are low this year. In fact, 2013 marks the lowest number of filings since May 2008.

This year 16,425 Arizonians filed for bankruptcy, compared to the 20,156 filings in 2012, according to AZCentral. Specifically in the Phoenix metro area, bankruptcy filings were down 19.1 percent this year.

While the drop in bankruptcy filings may be a sign of better financial times ahead, it's still important to know what to do if you ever need to file.

What Documents Are Needed for a Basic Bankruptcy Case?

What documents do you need for a basic bankruptcy case in Arizona? Bankruptcy isn't easy to come to terms with for many who decide to file. The process and knowing what documents you should file shouldn't be adding to your stressful situation.

When you file for bankruptcy, you'll be asked to disclose a certain set of documents regarding your financial situation. Here's a general overview of what you'll likely need when filing for bankruptcy in Arizona:

Can a Landlord Evict a Tenant in Bankruptcy?

Evicting a tenant going through bankruptcy is a sensitive matter. Whether a tenant has filed for bankruptcy before or after an eviction judgment affects the steps a landlord must take to regain possession of the rental unit.

Here are the general rules on if and when a landlord can evict a tenant in bankruptcy:

Bankruptcy is full of difficult choices, the first of which involves choosing the right lawyer for you and your case.

Without the right guidance, you could end up with an attorney who's overextended or inexperienced. That's why we've put together five tips to help you find the bankruptcy lawyer who's right for you.

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.

Toni Braxton has sold more than 40 million albums during her music career, but has racked up a staggering $50 million in debts. She first filed for bankruptcy back in 1998. Then in 2010, the IRS filed a $396,000 tax lien against the singer, making a second bankruptcy necessary.

Now Braxton has hit another financial bump in the road. The trustee in Braxton’s bankruptcy case had accused the singer of fraudulently transferring money to her estranged husband, Keri Lewis, in order to keep the cash away from her creditors, TMZ reports.

Today, more than 90% of private student loans require co-signers, up from about 50% six years ago, The Wall Street Journal reports.

That means more and more parents and grandparents are on the hook for student loans when young graduates can't pay. As a result, many parents and grandparents are forced to file for bankruptcy.

Shedding student loan debt in bankruptcy, however, is far from a walk in the park.

President Barack Obama and Mitt Romney may butt heads about everything else, but they seem to be in agreement about men’s formal wear. Obama and Romney have been known to sport Hickey Freeman and Hart Schaffner Marx suits fairly frequently.

HMX Group, the parent company of the two brands, recently filed for bankruptcy, leading to speculation that the company’s traditionally American-made suits, may soon sport “Made in [insert foreign county]” tags. Brand aficionados can exhale, however, since lead bidder Authentic Brands Group LLC has assured customers that if it acquires HMX, it will continue to manufacture the suits stateside, The Wall Street Journal reports.