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Bankruptcy

Arizona Bankruptcy Attorney Blog

The perspective of one Arizona Bankruptcy Attorney on insolvency during a depression.
By Joseph McDaniel, Esq.

Post Frequency: 2.4/day

Last Entry: March 31, 2011 at 10:42:02

Cheap Bankruptcy? Emergency Bankrupty? Instant Bankruptcy? Uh. No, thanks.

Posted on July 22, 2010
I really like helping people, the same way a bone setting specialist likes setting broken arms. He helps people, and he knows they'll suffer, and he knows they'll feel much better when they have the full use of their bodies again. On the other hand, people have seen and believed so much silly Arizona advertising about bankruptcy that they have peculiar expectations...

For Free! You Have to File a Bankruptcy for me here in Arizona. FOR FREE!!! Note that a free bankruptcy consultation doesn't mean a free bankruptcy!

Posted on July 21, 2010
I think that people sometimes mistake the medical advice about hydrating during the very, very hot Monsoon Season in Arizona. See, we're all supposed to drink water!Recently one of my bankruptcy phone guys (who are both compassionate and intelligent, and do the best they can under difficult circumstances, it being a depression and all) got an unusual call...

And How Will This Arizona Bankruptcy Lawyer Know That You Didn't Do Your Bankruptcy Homework?

Posted on July 20, 2010
It's pretty simple, really. On the one hand, if you come into my nifty not-child-proof office, with low-hanging framed certificates and big glass panel next to the door, and you bring two tiny, energetic, certificate-frisbeeing kiddies, you didn't do your bankruptcy homework...

No. We Won't Be Helping You. You're a CREDITOR. We Represent the DEBTOR in their Chapter 7 Bankruptcy Case here in AZ.

Posted on July 20, 2010
Every now and then I talk to the guys who handle my phones, and sometimes I hear odd stories. Some about vendors who are using strange and sneaky dodges to try to sell something to the firm, and sometimes...other stuff. Actually, I always hear odd stories, because the practice of insolvency and bankruptcy law in Arizona at this point is a strange combination of technical issues and the Wild West...

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One Indication That You Need To Visit with a Board Certified Arizona Bankruptcy Lawyer. Or Not, I Guess. Your Choice! But Stop with the 401(k) Use!!!

Posted on July 20, 2010
I've said it before, and I'll say it again, I suspect. Quit burning through your 401(k) and then saying, "Gee, I guess it's time to talk to a bankruptcy lawyer in Arizona, now that I have absolutely no resources to cushion my fall!"I'll write more about this when I get A Round Tuit, because this one drives me crazier than most of the other ways people make mistakes...

One Million Repossessions of Houses This Year; Three Million Defaults. Will the Arizona Homestead Exemption Save You? Well, No.

Posted on July 19, 2010
The statistics are starting to be staggering, even for me. In an ordinary year, there are going to be about 100,000 home repossessions by banks and other lenders.But this is no ordinary year. The United States is currently on track for more than 1,000,000 bank repossessions of houses this year...

A Debt Settlement Company Boinked Us! Non-bankruptcy Alternatives that You Might Want to Avoid!

Posted on July 18, 2010
So there I am, asking people how I can solve all of their problems, and these lovely people blurted out, "We were ________ed by a Debt Settlement Company!"Now, I undoubtedly see a bigger slice of refugees from non-bankruptcy options than most folks, because I'm a bankruptcy attorney in Arizona, and we're currently number two in the United States on houses in foreclosures and trustee's sales...

We're Forever Blowing Bubbles, Pretty Economic Bubbles in the Sky! And Bankruptcy Bubbles in Arizona, too, I Suppose.

Posted on July 17, 2010
There have been a lot of interesting, shiny economic bubbles popping that most of us remember fairly well.There was the first big real estate bubble that popped when Congress changed the tax laws without warning, which caused real property values all over the United States to drop like a stone, and caused the RTC to come into existence...

The Top Ten Bankruptcy Lawyers in Arizona! Sorted Like Eggs, or Books on Amazon! For My Favorite Price! Finding a Bankruptcy Attorney in AZ. EZ.

Posted on July 17, 2010
How to Find the Top Ten Bankruptcy Attorneys in Arizona. Or Anywhere Else. In 10 Seconds.I was recently reminded that finding a lawyer is not as easy as it sounds, when I was asked to find a lawyer who was a specialist in bankruptcy law in Hawaii. And experienced...

We're Number 2!!! We're Number 2!!! In Foreclosures, here in Az. Well, It Could Be Worse!

Posted on July 16, 2010
Okay, being number two in the nation is some sort of distinction. And I guess I'd rather Arizona was number two in trustee's sales and foreclosures than being number one, right?NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12...

Help Me! I Can't Lose My House and My Car! What Will a Bankruptcy Do to Help Me?

Posted on July 15, 2010
Well, that depends. If your first mortgage is $800,000 and the house is worth $400,000, you have a problem. If the house payment for the first mortgage (the one most likely to start a trustee's sale in Arizona) is $2,400 per month, and your income is zero, you have a problem...

I Hate It When That Happens! Losing Tax Refunds, Losing Cars, Losing Real Estate Commissions!

Posted on July 15, 2010
I got an email from a friend who had been a bankruptcy paralegal for many years. She had a friend who had filed a pro-per bankruptcy (without a lawyer, and without even talking to my very knowledgeable former-paralegal buddy). So she lost a tax refund she didn't have to lose; and she filed without her husband, which is seldom a good idea, because although filing a bankruptcy with an experienced Arizona bankruptcy lawyer costs money, defending the lawsuits against hubby is going to cost a bundle more! And my paralegal buddy told me that the amount of the tax refund the pro-per debtor lost to the bankruptcy trustee was more than enough to have paid an established bankruptcy specialist attorney in Arizona...

"Chapter 13 Debtor Cannot Keep Lottery Winnings Or Inheritance Received After The Court Confirms Bankruptcy Plan"

Posted on July 14, 2010
The title above is from Johathan Alper's Florida Bankruptcy Blog. And if you want to read the article, I've linked to it here. And I gotta tell you, there are reasons I really prefer helping people file the troublesome but helpful Chapter 7 Bankruptcy in Arizona, rather than the total pain in the behind for five long years (sometimes three) Chapter 13 bankruptcy in Arizona...

Apparently Being a Billionaire Doesn't Guarantee a Smooth Ride Anymore. Bankruptcy Relief, Anyone?

Posted on July 13, 2010
Here's a quick list of some folks who were previously worth essentially all the dough in the world, and now are worth less. It's an interesting list. I knew some of the names, but not others. And some simply seem to have had bad luck, and some discovered that even if you make a lot of money, it is entirely possible to spend more! Now, because I'm an Arizona bankruptcy lawyer, I seldom see anybody with more debt than a few million (I think twenty million was my record this year)...

FAQs re AZ BK Law and FAQs re AZ BK Proceedure, FAQs re AZ BK Options, and FAQs re AZ BK Lawyers

Posted on July 12, 2010
There are a lot of questions that come up again and again and again in the context of bankruptcy law, bankruptcy practice, bankruptcy options, and bankruptcy lawyers. That was true when I started my bankruptcy practice thirty years ago (only twenty-eight, if you don't count my Federal Clerkships with U...

You Think You Got It Rough? Try Filing Bankruptcy in Ireland, instead of Arizona! An Arizona Bankruptcy is Warm and Fuzzy, Compared with Ireland!

Posted on July 12, 2010
There's a nice article in the Ireland Times about Bankruptcy in Ireland. Sounds to me as though the 2005 Amendments have nothing on those Shamrock-heads! Putting it another way, if you have to file a bankruptcy, better that you file your bankruptcy in, say, Phoenix...

The Greatest Compliment An Arizona Bankruptcy Attorney Can Receive!

Posted on July 11, 2010
I got a kick out of it when I was asked a bunch of questions by a professional on the phone who told me he didn't like his current bankruptcy lawyer, because he, the professional, had a very complex case and his current lawyer couldn't answer his questions...

An Article in the Atlantic Seems to Say that Big Inflation is Bad; But I'm Not Sure.

Posted on July 10, 2010
So how about that hyperinflation? Threat or menace? I'm not smart enough to tell, but I just saw an article in the Atlantic that talks about it. Sadly, I'm not smart enough to understand the article, either. Maybe he's saying that inflation is bad, or maybe not...

Remember When I Suggested that Cities May Be Bankrupt? Sounds Like I Was a Little Off. By an Order of Magnitude.

Posted on July 10, 2010
Now I'm more frightened than I was previously about the prospects of economic disaster coming down the pike. Putting it another way, I've seen the light at the end of the tunnel, and under it is a cowcatcher. And they're both coming at us, at a high rate of speed...

Within the Bankruptcy System in the United States, the Options Are Thin on the Ground; Bankruptcy Homework Helps Me Help You!

Posted on July 10, 2010
When people do their bankruptcy homework before they come in to visit with me, they know about the sorts of bankruptcy alternatives and non-bankruptcy alternatives that are available in the United States, and in Arizona, specifically.But this is for those who missed that memo, but who may be browsing for bankruptcy information in Arizona...

So, Which Exemptions Do You Get to Use in Arizona? Think Fast!

Posted on July 09, 2010
The whole exemption enchilada was so simple before the 2005 amendments. And now....sigh. Well, it's not a sob! But it is a sigh.My personal observation is that trustees are waaaaaaay more aggressive than they were even five years ago, much less thirty years ago, in Arizona...

No Decision Is Also a Decision! Bankruptcy 7? 13? Negotiate? Defend Lawsuits? or Nothing. BUT NOTHING IS A DECISION WITH CONSEQUENCES!!!!!

Posted on July 09, 2010
I talk to a lot of people who have terrible problems, and in that sense I'm a little like a cancer specialist instead of a bankruptcy specialist. Except that I destroy debt instead of tumors. But I refuse to make decisions for people, and there's a reason for that...

So, How Will the Trustee Know If I Don't List an Asset?

Posted on July 09, 2010
The trustee will, without question, absolutely know if you don't list an asset. So list all your assets in your Chapter 7 or 13 Bankruptcy Case in Arizona, because an Arizona Bankruptcy Trustee will be very cranky, and you may lose your discharge or even your freedom, if you don't list assets...

Really Scary Seminar Title that I Didn't Write! And It Doesn't Exactly Address Bankruptcy. Except That It Will Cause More Bankruptcy Filings

Posted on July 08, 2010
Every now and then (actually, ten time a day or so) I get an advertisement about a new seminar being run by somebody or another, including the State Bar of Arizona, or the Maricopa County Bar Association, or the American Bar Association, and they're usually about bankruptcy if they're being sent to me...

Togetherness and Family Values. Through Bankruptcy.

Posted on July 07, 2010
Recently I've seen a lot more togetherness in families. Involuntary togetherness. It's a fortunate thing that many families have had one person who kinda did okay. Because now that the stuff has hit the fan, and we're sliding into economic Armageddon, people are all moving into that guy's house!Recently I talked to some nice folks who just gained custody of their grandchildren...

Boring Arizona Bankruptcy Video, Mark III; I'll Get this whole Bankruptcy Video Thing Right. Eventually. Someday.

Posted on July 06, 2010
This business of posting boring bankruptcy videos would seem to be an easy thing. You know?Turns out that it's less easy than you'd think! Eventually, I'll get the whole lighting, tempo, audio and video thing down right, but it's really similar to trying to pat your head while you rub your tummy; it's a bankruptcy video coordination issue!But here's a slightly better quality video about bankruptcy topics...

Why Won't The World's Most Interesting Man ever need to file a Bankruptcy?

Posted on July 04, 2010
I guess the reason that the beer commercials about the World's Most Interesting Man make me laugh so much is that we've already established that I'm the World's Most Boring Human Being. But I figure there must be some kind of bankruptcy joke in there...

The Arizona Homestead Exemption both in Bankruptcy Cases, and Outside of Bankruptcy. Your Tax Dollars at Work!

Posted on July 03, 2010
There is a very nice article about the Arizona Homestead Exemption Statute that was generated as an Arizona State Senate Issue Brief. It was drafted in 2008, so some of the dollar figures have changed a little, but in general I liked the fact that a lucid discussion of the Arizona Homestead Exemption was available online for My Favorite Price...

NO, Getting a Divorce Won't Help Keep Your Spouse out of Bankruptcy!

Posted on July 02, 2010
Here's the deal, Lucille. It is remarkably common, these days, for me to listen like a Priest to tales of Solitary Sin; people run off to casinos, buy funky drugs, embezzle, charge insane amounts on credit cards, spend money on girlfriends/boyfriends/pets, buy stock or property in highly leveraged ways which go wrong, or otherwise act in naughty ways...

Full Disclosure to this Arizona Bankruptcy Lawyer. In Stages. Item by Non-exempt Item.

Posted on July 01, 2010
For reasons that elude me, many people talk to a bankruptcy lawyer in Arizona and forget, during their initial discussions, to point out that they have a very simple, easy bankruptcy case with no complications at all. Except for the real property owned free and clear in Alabama that's worth $125,000...

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