Arizona Bankruptcy Law: What is the Difference Between Chapter 7 and 13 Bankruptcy?

The term “bankruptcy” still holds connotations of debtors prisons and the social stigma of being financially insolvent.  Luckily, people have not been jailed for declaring bankruptcy since 1833, and in some cases, declaring bankruptcy can be a viable part of a plan to clean up your finances.  However, it’s important to understand what bankruptcy means, and the difference between the …

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What Will Bankruptcy Save Me From?

If you’re behind on debt payments and don’t have much hope of catching up, you may be considering declaring bankruptcy as a solution. Before you do, it’s important to know exactly what declaring bankruptcy can (and cannot) do for your financial situation. Here’s a closer look at how both chapter 7 and chapter 13 bankruptcy work, and how they can …

What Will Bankruptcy do to my Credit?

  Many people who are having trouble paying their debts and surviving at the same time are often curious about the potential consequences of filing for bankruptcy. Luckily, debtor’s prisons were done away with back in 1833, but if you file for either Chapter 7 or Chapter 13 bankruptcy, your credit score will be affected. Here’s some more information on …

Bankruptcy: Free at last? Not so fast.

    Personal Bankruptcy: Are You Free at Last? Not So Fast.   Personal bankruptcy can be a viable solution for dealing with your consumer debts, such as credit cards or personal loans. However, personal bankruptcy does not eliminate all kinds of debt. You will still owe debts to the federal government, like back taxes and student loans.   Additionally, …