Filing Bankruptcy Sedona 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.

Total Bankruptcy has a participating attorney in GLENDALE
(866) 525-2557
20100 N. 51st Ave, Bldg F640
GLENDALE, 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

Matthew R K Waterman
(520) 882-1228
1 S CHURCH AVE NORWEST TOWER
TUCSON, AZ
Specialties
Bankruptcy
Education
Yeshiva University, Benjamin N. Cardozo School of Law,City University of New York, Brooklyn College
State Licensing
Arizona

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

Thomas J Salerno
(602) 528-4043
40 N CENTRAL AVE STE 2700
PHOENIX, AZ
Specialties
Bankruptcy
Education
Notre Dame Law School,Rutgers University, New Brunswick/Piscataway
State Licensing
Arizona

David L Richardson
423 S MILL AVE
TEMPE, AZ
Specialties
Family, Personal Injury, Litigation, Mediation, Bankruptcy
Education
Arizona State University,Brigham Young University
State Licensing
Arizona

Mark W Lischwe
141 E PALM LN STE 201
PHOENIX, AZ
Specialties
Bankruptcy
Education
Gonzaga University School of Law,Western Illinois University
State Licensing
Arizona

Michelle C Lombino
(602) 248-1027
3200 N Central 20th Fl
Phoenix, AZ
Specialties
Bankruptcy, Debt Collection, Litigation, Construction
Education
STATE U OF NY- BUFFALO
State Licensing
Arizona, New York

Dawn Marie Bayne
1850 N CENTRAL AVE STE 1150
PHOENIX, AZ
Specialties
Chapter 11, Bankruptcy, Litigation, Debt Collection
Education
Thomas Jefferson School of Law,Illinois State University
State Licensing
Arizona

James E Shively
2999 N 44TH ST
PHOENIX, AZ
Specialties
Banking, Bankruptcy, Commercial, Construction, Insurance
Education
Drake University, College of Law,University of Florida, College of Law,Illinois State University,Ill
State Licensing
Arizona

Total Bankruptcy has a participating attorney in GLENDALE
(866) 525-2557
7200 West Bell Road, Suite #D2
GLENDALE, 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

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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