If you have a consumer debt in an Arizona chapter 7 bankruptcy, for example, a car loan, you can redeem or reaffirm the debt. When you redeem the debt, you pay the creditor the replacement value of the item to purchase the item free and clear.
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In an Arizona chapter 7 bankruptcy, the difference between redeeming and reaffirming a consumer debt.
21. May 2010
Who is eligible to file chapter 7 bankruptcy in Arizona.
Interestingly, there is no requirement to be a legal resident or citizen to file bankruptcy in United States. To file bankruptcy in the United States, all the bankruptcy code requires is that person filing bankruptcy be a resident of the United States or have property in the United States.
19. May 2010
A driving under the influence charge in Arizona and the per se DUI charge.
Importantly, even if the state convicts you on all three counts, that does not mean you have a three DUI convictions on your record. As long as it is for the same DUI stop, it is only one Arizona DUI conviction.
26. April 2010
341 creditor’s meeting or meeting of creditors in an Arizona Chapter 7 bankruptcy
After you file your Arizona bankruptcy petition, the court set what is called a 341 creditor’s meeting, or meeting of the creditors. This meeting sounds more dramatic than it actually is because, in the typical liquidation, not very much happens. While the 341 meeting is in the bankruptcy court building, the hearing itself does not [...]
23. April 2010
Chapter 7 bankruptcy means test and the difference between consumer debts and non-consumer business debt
That test means that if someone makes enough money, then they are not allowed to file a Arizona chapter 7 liquidation and they must file a chapter 13 bankruptcy instead.
23. April 2010
Reaffirmation agreements in chapter 7 bankruptcy for consumer debts
With regard to proposed reaffirmation agreement on consumer debts, debtors typically have three options.
22. April 2010
Chapter 13 cramdowns, strip offs of junior unsecured liens, and lines of credit
In a case called Nobleman, the Supreme Court ruled that you cannot cramdown a loan exclusively secured by your personal residence.
22. April 2010
The Arizona anti-deficiency statute explained
The anti-deficiency statute only applies to purchase money loans, which are loans used to buy the home itself, and refinanced purchase money loans; and the home must be a duplex or less on less than 2.5 acres of land. You are liable if you had a line of credit on the house. That is, if you took a loan against the house and used that money for things like buying another property or paying off your credit cards, you are personally liable for any deficiency. In that case you should consider bankruptcy.
22. April 2010
Citizens for the Restoration of the American Middle Class
Neoliberalism is the greatest evil facing the civilized world today.
22. April 2010
Selected quotes from David Harvey and Robert Sidelsky
Left movements failed to recognize or confront, let alone transcend, the inherent tension between the quest for individual freedoms and social justice.
25. May 2010
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