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 …

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, …