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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

A Bankruptcy Decision Tree that Doesn't Branch!

Posted on June 03, 2010
Every now and then a potential client will come in and visit with me and start a sentence that lasts for a half-hour and ends with a question mark. And the legal issue is one that I have researched in the past, and I know that there are different positions in two other Circuits and that the 9th Circuit hasn't ruled on the matter...

Did You Ever See a Potential Bankruptcy Client that You Thought Didn't Need an Arizona Bankruptcy Attorney? Well, Sometimes. But Not Often!

Posted on June 03, 2010
Recently I saw a very nice, intelligent, young lady with a particularly creative hairstyle. It looked a little like a soft-swirl ice-cream cone, and it was unusual, but looked very nice on her. But besides having a creative hair style, she also had a problem...

Should I Stop Paying My Credit Cards if I'm Going to File a Bankruptcy?

Posted on June 02, 2010
Maybe. But don't, just yet. Don't do anything at all until you KNOW FOR SURE that you are going to be filing a bankruptcy, and about how long it will be before you qualify for the means test, and whether you need to wait for a year because of the $47,000 preferential transfer to the insider (Mom) you made prior to filing...

So What Should We Remember on Memorial Day?

Posted on June 01, 2010
This guy said it better than I could:Last year, just before Memorial Day, I was in a meeting with an attorney who, although born, raised and educated in the United States was completely clueless as to what Memorial Day was all about. Despite being highly educated and easily more intelligent than myself, she believed Memorial Day was a day to remember any and all lost loved ones...

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So What's the Difference Between a Chapter 7 and a Chapter 13 and a Chapter 11, asks the Bankruptcy Blog?

Posted on May 31, 2010
Well, a Chapter 7 is kinda like getting your knee replaced; it hurts like heck for a little while, and then the pain goes away, after you get your Chapter 7 bankruptcy discharge and after that when the case is closed for administrative purposes by the Bankruptcy Court in Arizona...

A Happy Bankruptcy Parable in Arizona; the Fresh Start after a Rocky Process through Bankruptcy Upward to Success!

Posted on May 31, 2010
So there I was, picking up a tie after I'd spilled soup on my favorite.And I'm talking to this guy, like you do, and he asked for my contact info and I handed him my card, which says that I'm a bankruptcy lawyer in Arizona, and board certified. So he starts telling me that his bankruptcy was the best thing, in retrospect, that ever happened to him...

This Is Memorial Day; Remember the Heroes Who Died So We Could Live in Freedom

Posted on May 31, 2010
General George S. Patton was a tough, smart guy. And he said: It is foolish and wrong to mourn the men who died. Rather we should thank God that such men lived.NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12...

Bankruptcy Used To Be a Haven for All Debtors With Overwhelming Debt, Offering a Fresh Start. Not So Much Anymore. This Bankruptcy Blog is Sad.

Posted on May 30, 2010
Back in the days when the New Code and my ticket to practice were New, about thirty years ago, it was axiomatic that the Bankruptcy Court had arms open to welcome all honest debtors with overwhelming debt. That's just not enough anymore. The period between filing bankruptcy cases has expanded beyond the Jubilee Year in the Bible, so now it's eight years between Chapter 7 cases...

So, Arizona Bankruptcy Attorney, Is Prosperity Just Around the Corner? When Will this Recession or Depression End? Tell Me in your Bankruptcy Blog!

Posted on May 30, 2010
Well, never. Here's my take on it: the definition of insanity is doing the same thing over and over and hoping for different results. In a family that earns $5,000 per month, and spends $10,000 per month, how long will it be until that family is able pay off debts, retire, and accumulate savings?Never, right?So if a country, say, oh, the United States, spends more than it makes, and borrows heavily from China, Russia, and the Emirates, how long will it be until that country is prosperous again, as long as it keeps spending more than it makes?You tell me...

Are There Any Insolvent Bankruptcy Clients being sued on their Second Mortgages in Arizona that You DON'T Want to Help?

Posted on May 29, 2010
Well.My love is free; I don't love everybody, like the Good Book says, but I'm working on it. I don't know if I'll get there first, or the undertaker will catch up with me first, but I'm watching that process with serious attention. On the other hand, I want to help as many people as I can...

I Got Sued By the Chase Bank on the Second Mortgage Default; Is Bankruptcy the Solution? Can Bankruptcy Help Me with the Bank Lawsuit in Arizona?

Posted on May 28, 2010
Well, yeah.Probably.Bankruptcy is all about the process whereby the honest debtor gets a discharge in a bankruptcy proceeding, whether it's a Chapter 7 bankruptcy or a Chapter 13 bankruptcy.In fact, it will almost seem that the bankruptcy was designed to help you deal with the bank lawsuit once you have filed...

"How Do I Find A Good Bankruptcy Lawyer? Are There Bankruptcy Attorneys to Avoid Like the Plague?"

Posted on May 26, 2010
I have written in the past several discussions of ways to find a good bankruptcy lawyer, wherever you may live. After all, if you don't live in Arizona, you can't retain me, as much as I'd like to help you file your bankruptcy case.But recently I was asked a different question, which I have never thought about much in the past...

Bankruptcy Jokes, Gags and Puns; for Arizona, and Everywhere Else!

Posted on May 25, 2010
Bankruptcy stinks. It's a total pain in the behind and it has few redeeming qualities; it's only better than one thing. Actually paying the overwhelming debt.Now, that's not a bankruptcy joke. That's just the truth. And I wish bankruptcy had less shame, humiliation, fear, and anxiety built into it...

Can You Discharge a Judgment in a Chapter 7 Bankruptcy in Arizona?

Posted on May 25, 2010
Well, usually. It's probably a better idea if there aren't associated findings of fact and conclusions of law indicating fraud after two years of hot and heavy litigation in Superior Court in Arizona. On the other hand, a garden-variety judgment is usually going to get discharged, unless the creditor files a Complaint to Determine Dischargeability within the relevant time period...

Restaurants and Bankruptcy Cases in Arizona

Posted on May 24, 2010
Restaurants are closing at a stupidly quick pace now in Arizona, and that's making me cranky.There was a nice place called Stuart Anderson's Black Angus Steakhouse on Camelback Road near 20th Street in Phoenix, and the food there was good. It closed without giving me any notice recently...

If Everyone is Bankrupt, Does Bankruptcy Have any Meaning?

Posted on May 24, 2010
I just ran into one of the most disturbing visuals I've seen in a long time. It's called the U.S. Debt Clock.If you take a look at the numbers and you aren't disturbed by them, I think you aren't paying attention. There are a lot of items on the Debt Clock to make you say "Eeeek!" One is that personal debt seems, if I am reading it correctly, to average above fifty thousand dollars per person, and while personal savings appear to average around fifteen hundred per person...

Cars, Reaffirmations, Exempt Vehicles, and Ride Through in Chapter 7 Bankruptcy in Arizona

Posted on May 23, 2010
There is a very nice bankruptcy blog that I will soon include in my blogroll. It's called "The Bankruptcy Case Blog" and it is maintained by the American Bankruptcy Institute, one of the premier bankruptcy organizations in the country. Their seminars, for instance, are among the best presented in the United States...

One Reason People Don't Save, and Then File Bankruptcy, Whether a Chapter 7 or a Chapter 13 or a Chapter 11 Bankruptcy in Arizona

Posted on May 23, 2010
There is no one reason that people file bankruptcy cases in Arizona. In fact, generally, the "reason" people file a bankruptcy isn't the real reason at all. It's just the last straw.Three of the most common precipitating factors that make a potential bankruptcy debtor consult with a bankruptcy lawyer in Phoenix or Mesa or Tempe or Chandler are the following: job loss, lawsuit, and trustee's sale (what would be called a mortgage foreclosure in most of the country; that's a little different, but the creditor's goal is the same)...

I Thought I'd Heard It All About Loan Modifications

Posted on May 21, 2010
I recently talked to a very nice, intelligent man who told me he'd hired somebody to try to help him with a loan modification on his house. He explained that he was a smart, experienced businessman with a fair amount of banking experience, and that he knew that he was over his head when he was told by the bank that they'd been able to get him a loan modification...

Why Do Governments and People Spend More than They Have Available to Spend?

Posted on May 20, 2010
Well, with individuals, because it feels good, or because they simply miscalculated the stream of money that would be coming into them. Nobody expects the Spanish Inquisition, and nobody expects to be out of a job after working at the same job for thirty years...

I'm not just an Arizona Bankruptcy Attorney; I'm also a Debt Relief Agency!

Posted on May 20, 2010
Under the 2005 Amendments to the Bankruptcy Code, there are some very odd provisions that interfere with the relationship between attorney and client in ways seldom, if ever, attempted previously in federal law.The rules of ethics and other rules controlling attorney conduct have traditionally been issues left to the states...

Not Just in Arizona: Shame and Embarrassment and Humiliation and Bankruptcy

Posted on May 17, 2010
I recently discussed the stigma of bankruptcy in beautiful, sunny Arizona. The law of bankruptcy are different in Great Britain, but according to this article, the stigma and tears of bankruptcy in Great Britain are pretty darn similar similar to those in Arizona...

Shame and Embarrassment and Humiliation and Bankruptcy in Arizona

Posted on May 16, 2010
I've been practicing bankruptcy law for about thirty years now, and it still surprises me when smart, capable, well-educated people break down sobbing in my office as we discuss bankruptcy options and non-bankruptcy options in Arizona. I keep a big box of tissues on my desk...

We're Number One! We're Number One! In Bankruptcy Filing Increases, Anyway.

Posted on May 15, 2010
Now, I've said it before, and I'll undoubtedly say it again: I'd rather Arizona was number one in new job formation in the private sector of the economy. But you gotta take what life gives you, you know?So Arizona IS number one. In bankruptcy filings...

"Do You Just Not Want to Know About the Money Under the Mattress in my Bankruptcy?"

Posted on May 15, 2010
I get to talk to the very nicest, best quality bankruptcy debtors in the world. And I have a baseline for comparison, because I've done it for thirty years. Nowadays, folks who only care about price don't hire and Arizona bankruptcy lawyer, board-certified specialist or not, and I wish them well and hope for their speedy recovery, and hope that they don't lose money or cars or houses or tax refunds in their bankruptcy...

Cycles in Bankruptcy Filings in Arizona

Posted on May 14, 2010
Back in the good old days, formerly known as "these trying times", I could tell how bad things were getting based on the size and number of clients who came into my office. When there was a mild downturn, I'd see construction workers. Those are cases where the legal issues tend to be fairly routine, but the suffering is substantial, because those guys work hard to make money and take pride in providing for their families...

If Everyone is Bankrupt, Is Anyone Bankrupt? At least You'll Be in Good Company!

Posted on May 13, 2010
I recently wrote a post pointing out that here in Arizona, we're not looking at the "B" word for cities, while in California, that issue is not foreclosed. But I ran into a discussion on Rasmussen Reports about a Congressional Budget Office Report, and the paragraphs caused me anxiety, because I am concerned that we are headed, as a country, for massive economic problems...

Little Johnnie's Car, and Mere Title in the Arizona Chapter 7 or 13 Proceeding

Posted on May 13, 2010
So why would little Johnnie's car come up as an issue in so many Chapter 7 bankruptcy cases in Arizona?Well, it's pretty simple. Debtors in Chapter 7 cases (to make this simple, I'm talking about Chapter 13 cases; but the Arizona exemption laws have application in Chapter 13 cases...

Mysteries of Bankruptcy Filing Statistics in Arizona, and Elsewhere

Posted on May 13, 2010
There wouldn't seem to be any good reason for bankruptcy filings to increase by 35% in one month recently, and then decrease by almost five per cent in the next month. But there's a nifty bankruptcy blog named "Credit Slips" which discusses that very fact pattern...

Can You Discharge Student Loans in a Chapter 7 if You're an Arizona Bankruptcy Lawyer?

Posted on May 11, 2010
Every now and then somebody asks me if I know that student loans can be discharged in a Chapter 7 bankruptcy in Arizona. I always try to be polite, and I thank them for the information. And after all, it's not that hard. All the debtor has to show to discharge a student loan is that ?will impose an undue hardship on you and your dependents...

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