Filing Bankruptcy Flagstaff AZ

The biggest downside to bankruptcy is the fact that it remains on your credit report for up to 10 years. During this time it will be much more difficult for you to establish a positive credit history. Another downside to bankruptcy is the cost.

Tyler Martin
(928) 779-1173
320 N. Leroux, Suite A
Flagstaff, AZ
Specialties
Debt Collection, Debt Settlement, Bankruptcy, Chapter 7, Chapter 13
Education
Brigham Young University - J. Reuben Clark Law School
State Licensing
Arizona

Total Bankruptcy has a participating attorney in FLAGSTAFF
(866) 525-2557
320 N Leroux Street, Suite A
FLAGSTAFF, AZ
Description
Take control of your finances today! We have an extensive nationwide network of local, sponsoring bankrupcty attorneys. Call to discuss your options for stopping creditor harassment. We also have information on filing for chapter 7 and chapter 13 bankruptcy. Personal bankruptcy may be an option for you. Call today!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Michael J. Gordon
(928) 774-1478
123 North San Francisco, Suite 300
Flagstaff, AZ
 
Lori L Winkelman
(602) 229-5452
2 N CENTRAL AVE ONE RENAISSANCE SQUARE
PHOENIX, AZ
Specialties
Bankruptcy, Credit Repair
Education
Arizona State University,South Dakota State University,South Dakota State University,Denver Paralega
State Licensing
Arizona

Mark Lee Fowler
(602) 492-2214
207 N GILBERT RD
GILBERT, AZ
Specialties
Real Estate, Business, Bankruptcy, Wills
Education
Texas Tech University School of Law,University of Texas System, Arlington
State Licensing
Arizona

Kevin B Harris
(928) 774-0011
323 N LEROUX ST
FLAGSTAFF, AZ
Specialties
Criminal Defense, Bankruptcy, Landlord & Tenant
Education
Thomas M. Cooley Law School,Northern Arizona University
State Licensing
Arizona

Pernell Whynn McGuire
(928) 774-1478
123 North San Francisco, Suite 300
Flagstaff, AZ
 
Ann L. Kirkpatrick
(928) 774-0011
821 West Riordan Road
Flagstaff, AZ
 
Patricia A Premeau
201 N CENTRAL AVE STE 3300
PHOENIX, AZ
Specialties
Real Estate, Commercial, Bankruptcy
Education
Arizona State University,Arizona State University
State Licensing
Arizona

Raymond A. Kenney
(623) 234-3536
20325 North 51st Ave. Suite #134
Phoenix, AZ
Specialties
Bankruptcy, Business, Estate Planning, Family
Education
Seton Hall University School of Law
State Licensing
Arizona, New Jersey

Filing Bankruptcy

Depending on your current financial situation, bankruptcy might seem like the only answer. While in many cases this may be true, there are other solutions which might prove to be the better choice.

The biggest downside to bankruptcy is the fact that it remains on your credit report for up to 10 years. During this time it will be much more difficult for you to establish a positive credit history. Many credit applications ask if you ve ever filed bankruptcy, so even if the 10 years have passed and it s not on your official credit report, you have to answer yes.

While your credit report will drop the bankruptcy after 10 years, the federal court has it on record forever. Those records are open to the public.

Your credit report can be checked when you apply for employment so a bankruptcy can affect your ability to get a job in some industries. Car insurance companies look at your credit score as a measure of reliability. A bankruptcy is looked at unfavorably and can result in denial of insurance, or insurance only provided at very high rates. When moving, it can even be the deciding factor in whether or not you live in the residence of your choosing. Many apartment leasing companies won t approve a lease to a person with a history of bankruptcy, even if they have the financial ability to now make the lease payments.

Another downside to bankruptcy is the cost. Recent changes in bankruptcy laws have initiated a huge increase in filing fees. While it s possible to file a bankruptcy without an attorney it s not recommended in complicated cases. Certain debts such as student loans and back child support can not be erased. Add the filing fees to the cost of retaining a bankruptcy attorney and you are talking about fees probably in excess of $2000.

If you have equity in your home you may not be able to retain it but be forced to sell the home to pay off debts. While your debts may be high, if you have substantial assets it may be financially advisable to not declare bankruptcy.

One of the conditions of the 2005 changes in bankruptcy law now requires individuals to seek credit counseling prior to filing. If at all possible, you should consider using a credit counseling agency or even a debt consolidation service before deciding to go bankrupt. The credit counseling service must be government approved to satisfy this requirement.

Other changes require that if you can pay at least $100 per month towards debt payment you must file Chapter 13 instead of Chapter 7. Chapter 7 means all your debts (with the exception of back child support, taxes, and a few others) are forgiven and you come away with a clean slate. Chapter 13 requires that you come up with a strict repayment schedule based on your income and assets to pay off as much of your debts as possible within a 5 year period.

You will find yourself on the road to good credit much sooner, if you can utilize a method other than bankruptcy to help you get out of debt.

Corey Landis contributes to several websites including http://www.creditcardanddebtmanagement.com/debt-management.html , Credit Card and Debt Management and http://www.attractingcapitalfromangels.com , Loans as well as http://www.waystofindmoney.com , Ways to Find Money



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