by Preston Gardner and James McGuire The spike in real estate values has been a hopeful sign of an improving economy over the past year. For those considering bankruptcy, however, it should be viewed as a warning that certain bankruptcy
Submitted by Charles B. Sellers It is a very common occurrence for someone to contemplate filing bankruptcy and ask the question, “What happens to my business?” The answer to that question depends on the business and whether or not a
Submitted by Attorney Pernell McGuire In today’s economy more and more small business owners are being forced to seek protection from creditors by filing bankruptcy. In many cases, the small business owner has tax liability for payroll taxes and wants
Submitted by Attorney James McGuire Can I file bankruptcy if I am behind on my house payments? Clients often wonder whether they can file bankruptcy if they are behind on their house payments. The short answer is yes. However, which
In the past, Chapter 11 of the Bankruptcy Code has been used primarily by corporations hoping to reorganize and stay in business. However, with the real estate market downturn, more individuals have taken advantage of Chapter 11 to reorganize and
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Many people are aware that sweeping changes were made to the bankruptcy code in 2005. One of the biggest was the institution of the “means test” to determine eligibility to file for Chapter 7 bankruptcy protection. The “means test” was
Credit card debt is one of the most common types of debt discharged in a bankruptcy. In most cases, no creditor disputes the dischargeability of credit card debt and the debt is readily discharged in the bankruptcy. However, credit card
As a lawyer with many cases in Phoenix and Mesa, Arizona and throughout the state, I often encounter family law cases in which a bankruptcy has been or will be filed. Both parties need to understand what will happen with
Borders Group, Inc., owners of the popular Borders bookstores recently filed for Chapter 11 bankruptcy protection. You may be thinking, good for them, but I am going to be filing Chapter 7 or Chapter 13. The reality for many of
Will I ever be able to buy a house again? That’s a common question clients ask when faced with a foreclosure or bankruptcy, or both. Fortunately, the answer is yes, but . . . Depending on the circumstances and type
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