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.

Kyle Hirsch
2 N CENTRAL AVE ONE RENAISSANCE SQUARE
PHOENIX, AZ
Specialties
Bankruptcy, Commercial, Employment
Education
Arizona State University,Middlebury College
State Licensing
Arizona

Robert J Novak
201 E WASHINGTON ST
PHOENIX, AZ
Specialties
Bankruptcy, Construction, Commercial
Education
University of Arizona College of Law,Drake University
State Licensing
Arizona

Harold E Campbell III
(480) 839-4828
1811 S Alma School Rd Suite 225
Mesa, AZ
Specialties
Bankruptcy, Business, Personal Injury, Wills, Corporate
Education
University of Arizona College of Law,Northern Arizona University
State Licensing
Arizona

Angela M Wilson-Goodman
538 S GILBERT RD STE 101
GILBERT, AZ
Specialties
Adoption, Bankruptcy, Business, Commercial, Child Support
Education
Arizona State University Sandra Day O'Connor College of Law,University of New Mexico
State Licensing
Arizona

Terry L Rakow
1850 N CENTRAL AVE STE 2400
PHOENIX, AZ
Specialties
Bankruptcy, Debt Collection, Landlord & Tenant, Litigation, Real Estate
Education
University of California, Hastings College of the Law,California Lutheran University
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

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

Craig J Bolton
2800 N CENTRAL AVE
PHOENIX, AZ
Specialties
Business, Bankruptcy, Debt Collection, Corporate
Education
Emory University School of Law,Texas A&M University
State Licensing
Arizona

Gregory P Gillis
3200 N CENTRAL AVE STE 2000
PHOENIX, AZ
Specialties
Bankruptcy, Debt Collection, Litigation, Construction
Education
University of Nebraska, Lincoln,University of Nebraska, Lincoln
State Licensing
Arizona

Total Bankruptcy has a participating attorney in MESA
(866) 525-2557
1811 S. Alma School Rd., Suite 260
MESA, 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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