Phoenix Bankruptcy Law Blog

What is a Chapter 12 anyway and who is eligable? Chapter 12 of the U S Bankruptcy Code basically is designed for “family fishermen” with “regular annual income”. It enables financially stressed family farmers and fishermen to design a plan to repay all or part of their debts. Much like a chapter 13, the debtors propose [...]

It seems there are more chapter 11 filings than ever before. Most people have heard of this chapter of the Bankruptcy Code but few really know what it is and what it entails. This chapter of the Bankruptcy Code provides generally for reorganization involving a business of some type but sometimes individuals can also file [...]

In this economy, more and more people are considering bankruptcy. Many have no idea what to expect and are afraid they will not be able to recover. There are long-term consequences when a consumer files bankruptcy, for example higher interest rates or not being able to get credit at all. Depending on what chapter of [...]

The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), passed in 2005, included several major changes to the United States Bankruptcy Code. One of the most important changes made is a “means test” which makes it more difficult for individuals to have their debts discharged in a Chapter 7. If the debtor’s income is above the [...]

You want to know the chapter 13 rules that apply so that you can determine whether this is the right form of bankruptcy to file for. Here are some quick tidbits on this particular law to help you find out if this method would be right for your situation. The first thing you need to [...]

You may be asking yourself if I file for bankruptcy but cannot afford the filing fee, can I still file. The answer may surprise you. The district court or bankruptcy court may be able to waive the initial filing fee for an individual debtor based on the debtor being less than 150% of the poverty [...]

Many homeowners wonder if they still have a chance at modifying their mortgage if they file bankruptcy. A loan modification is a process that changes or modifies the original terms of the mortgage. A modification can change the interest rate, lower the monthly payment and some modifications even forgive part of your mortgage loan balance. [...]

Millions of people across the country are making a financial decision to file for bankruptcy. There are many reasons why this happens; it could be a loss of income, medical bills, buried in debt or divorce just to name a few.  It is scary for most, not knowing if they will lose their home, car [...]

Bankruptcy can be the best solution or the last resort for many Americans in the midst of personal economic turmoil. With mounting debt and few options to get out from under the pile of bills, some turn towards personal bankruptcy as a way out. Unfortunately, there are some myths surrounding bankruptcy that may incorrectly discourage [...]

In our final review of the Amendments of the Federal Rules of bankruptcy Procedure (FRBP), we will discuss Sanctions for failing to file a notice of payment change, the notice of post-petition fees, expenses, and charges. In addition, a Notice to Cure in a Chapter 13 case required by the Chapter 13 trustee to be [...]