Bankruptcy

PLEASE DON'T WAIT UNTIL ALL YOUR ASSETS ARE GONE BEFORE YOU TALK TO A BANKRUPTCY LAWYER IN ARIZONA, OR ANYWHERE ELSE!

By Joseph McDaniel, Esq.

There are some people who really, actually break my heart.

They are the nice, sweet, hard-working people who make America the great Country that it is, and who spend their very last dollar trying to do the right thing.

So stop it! Do not spend that last dollar! Do not beggar yourselves for credit card companies and banks that have already made money off of you for all your lives.

Here's part of a letter from a very sweet woman.

LEARN FROM HER SITUATION, AND DO NOT SPEND YOUR LAST DOLLAR PAYING THE BANK OR MAKING CREDIT CARD PAYMENTS. PLEASE, I WANT YOUR GOLDEN YEARS TO BE, YOU KNOW, GOLDEN!!

Dear Mr McDaniel,

I am 61 years old. My husband passed away in November 2006 - after
three years of valiantly fighting a brain tumor. During that battle,
he could not work. I kept up with our bills and commitments as well
as over $100,000 out of pocket hospital and doctor bills.

Then in June 2008, the company for which I had worked for the past
seven years went out of business. I did not have a job. I continued
to pay all my bills but eventually ran out of money or other
assistance.

I refinanced the townhouse where we had been living in _________ so
now make mortgage payments of $1,381 per month.

However, after two years of unsuccessfully trying to sell the new
house my husband and I had been building, I quit making the payments
to _________ Bank (__________). The house eventually went into
foreclosure.

I continued to make payments on two pieces of land (one in _______ and
one in ___________) until January 2009. I then let _ & _ Bank know
that I had no more money and so stopped making those payments. Both
pieces of land also went into foreclosure.

I now have a lawsuit filed against me from _ & _ Bank for the land in
____________. _ & __ purchased the land themselves from the Trustee Sale
and say that now I owe the $104,000 remaining from the mortgage.

I am sure I will receive a lawsuit from them for the __________ land as well.

Is it too late to file for bankruptcy? What are my options?

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Okay, now I'm without words.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on February 27, 2010 (boomark / email).