Recent Case Results:
The appellate court reversed the trial court’s order denying Mr. Williams request for attorney’s fees. The appellate court stated that parties representing themselves must demonstrate the same standard of reasonableness as parties with counsel. Additionally, the appellate court stated that the trial court must consider the financial resources of both parties when determining awards of attorneys fees.
David, a school teacher and his wife Mary, an employee at a local university had over $40,000 in credit card debt and another $50,000 arising from a foreclosure. They had two small children and were struggling to make ends meet. We filed a chapter 7 case for them and eliminated all of their debt. In the process, they were allowed to keep both of their vehicles and David’s state retirement.
Bill and Susan were $20,000 behind on their mortgage payments and were facing a foreclosure on their home. Their only vehicle, which they owed $10,000 on at 12% interest had also been recently repossessed. They owed an additional $65,000 in credit card debt. With no vehicle and no way to get to work, Bill’s employment was in jeopardy. We filed a chapter 13 case before the vehicle was sold at auction and got them their vehicle back. They paid for the vehicle through their chapter 13 plan at a reduced interest rate of 4%. They were also able to make monthly payments towards the $20,000 mortgage arrearage through their plan and discharge their credit card debt, resulting in a monthly payment of less than $600.
Steve had been in the outdoor clothing business for over 20 years. But when the economy went bad, he found he was having a hard time making his lease payment and paying his suppliers. He owed his bank $100,000 on a line of credit and was $15,000 behind on his lease. He owed his suppliers a little over $300,000 and didn’t know what to do. We filed a chapter 11 case for the business and helped him negotiate a new lease agreement. We modified his loan with the bank to a more favorable pay out schedule from 5 to 10 years, and submitted a plan to pay his suppliers 25% of their claim amount. It’s good to drive by Steve’s store on the way to work and see him still in business.
These are just a few stories from the people we’ve helped. Call 800-899-2730 to set up a free consultation with an experienced Flagstaff or Phoenix bankruptcy attorney about your Arizona bankruptcy.