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Bankruptcy

Arizona Bankruptcy Attorney Blog

The perspective of one Arizona Bankruptcy Attorney on insolvency during a depression.
By Joseph McDaniel, Esq.

Post Frequency: 2.4/day

Last Entry: March 31, 2011 at 10:42:02

There Are As Many Words For Debt As There Are For Snow in Alaska!

Posted on September 07, 2010
In Alaska and nearby areas, snow is a major part of the environment. Because subtle gradations of snow are critical to survival if you live your life in a kayak and an igloo, some cultures have developed a lot of different names for snow, while English has very few...

A Chapter 7 Bankruptcy "Liquidation" in Arizona is Really Not a Liquidation. Usually.

Posted on September 06, 2010
When Is a Liquidation not Really a Liquidation? When It's a Chapter 7 Case in Arizona! So how often does a Chapter 7 bankruptcy get filed in the Bankruptcy Court for the District of Arizona? Well, the last time I checked, pretty frequently. About 82% of all cases filed, if I remember my statistics correctly, are Chapter 7 bankruptcy cases...

Yeah, You Gotta Rolex. So? Rolexes and Bankruptcy Exemptions Don't Mix Well in Arizona

Posted on September 05, 2010
So you gotta Rolex.And you gotta file a bankruptcy, and you get to use the Arizona bankruptcy exemptions.Well, me bucko, you will probably want to consider selling the watch for fair market value and buying food, fuel, provisions, or maybe a car (for the ever-popular five thousand dollars which is exempt in Arizona)...

Should I File A Bankruptcy in Arizona?

Posted on September 04, 2010
Should I File a Bankruptcy?Well, here's a pretty precise answer.I don't know for sure.When I get an email asking me if somebody should file a bankruptcy, it makes me a little hinky because it seems to me that it isn't a legal question: it's a personal, economic, and practical question...

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Pity the Poor Farmer! Killed by Inflation and Big Corporations! And Chapter 12 Cases Sometimes Work.

Posted on September 03, 2010
The plight of the family farmer is the same in this generation as it was during the Great Depression.With a cherry on top. The additional issue farmers have to face now is inflation. That is, twenty years ago hay sold for $5.00 a bale. And hay, today, sells for...

Your Property In Canada Is Not Exempt, Immune, or Invisible if You File A Bankruptcy in AZ

Posted on September 03, 2010
Sometimes people hate the message.And almost as often, they get cranky with me when they hear what they don't want to hear.And I am apparently a glutton for punishment, because I'm gonna keep telling 'em what they don't want to hear, just as I have for the last thirty years...

AVVO: How to Find the Best Bankruptcy Lawyer for Your Needs, Eezy-Peezy. With One Click. Or Maybe Two.

Posted on September 02, 2010
I have written previously about finding a bankruptcy lawyer by triangulating with three different websites: Martindale.com, Findlaw.com, and AVVO.com. And because I wrote it, I think that was a good post! All three are directories where you can track the wild lawyer to his or her lair...

And then Along Came Nina!

Posted on September 02, 2010
I've always taken the position that you should never hire anybody unless they were smarter than you were, because....otherwise, why bother?You can only get a glimmer of Nina's Summa Cum Laude Undergraduate brilliance, passing the bar exam first time thank-you-very-much, steel trap mind during this discussion...

Listen to a Bankruptcy Lawyer Talk! For FREE!!

Posted on September 02, 2010
There's an old gag that says that talk is cheap, until you hire a lawyer!So I started making some educational bankruptcy videos to help my clients understand some parts of bankruptcy law and analysis, because some people won't read. Some folks like to read, some hate it...

The Anxiety Diet, and HOAs Turning into Monsters

Posted on September 02, 2010
I started today in a fairly good mood. Yesterday I talked to one of the nicest ladies I've met in a while, and she told me about having lost 20 pounds on The Anxiety Diet, because of her worries about her debts. I fixed her problems and sent her on her way...

Zombies? I have to worry about ZOMBIES?

Posted on September 02, 2010
Before you file a bankruptcy in Arizona, or anyplace else, you have probably moved through a downward spiral of economic destruction that involved pay cuts, getting fired, getting sued, collectors, a divorce, deep emotional depression, and a partridge in a pear tree...

What Do You Call a Business that Loses Money?

Posted on September 01, 2010
Well, of course, it might be a perfectly good business. That is, it might be a business that has been around forever, and has just experienced a short-term downturn in business volume and gross income. But if that kind of business gets more dough in the door, it's still party time!Then you have a business that's been going for a full five years or so and the owners have been subsidizing it during each year of its young life...

So, How About If I File a Personal Chapter 11 Bankruptcy? Part I

Posted on August 31, 2010
"I just went to a seminar advertised to the general public, and the speakers seemed really smart, and they said if I filed a personal Chapter 11, I could force the secured creditors to negotiate with me! Let's file today!" Well. Uh. No. I periodically talk to really smart people who have a new religion; the belief in an all-powerful, all-benevolent personal Chapter 11 Bankruptcy, which will permit an individual to manifest an all-powerful ability to force both secured creditors and unsecured creditors to negotiate! Well, I have an actual religion...

What Happens When A Creditor Shows Up at My First Meeting of Creditors and Starts Asking Questions?

Posted on August 30, 2010
So what happens if a creditor shows up at my first meeting of creditors? Well, that depends. But naturally, a bankruptcy blog is going to discuss that eventuality. But usually the answer is, not very much!On the other hand, I wrote a short discussion of the way things play out at a first meeting when a cranky, cranky creditor shows up...

The ABI Has A Cool Seminar In Chicago. Good to Go!

Posted on August 30, 2010
This post is mostly for my Arizona bankruptcy attorney buddies, and those in other places than Arizona. Note that there is a nifty consumer bankruptcy seminar coming up in Chicago, hosted by the ABI. So go attend that seminar if you you aren't chained to your desk, like poor, poor pitiful me! ------------------------------------------------------------------------------------Home | Schedule | Conference Info | Advisory Board | Rates | Attendee List | Register Chicago Consumer Bankruptcy ConferenceThe Gleacher Center @ The University of Chicago Booth School of BusinessChicago, IllinoisOctober 11, 2010 ABI's outstanding consumer bankruptcy program returns this fall to the Chicago area...

Bankruptcy Blog: Why Bother To Read One?

Posted on August 29, 2010
There are a lot of bankruptcy blogs around these days. And somewhere out there, there's the best bankruptcy blog in the United States, and for that matter, the best bankruptcy blog in Arizona, or the best bankruptcy blog in Phoenix! This bankruptcy blog is a labor of love, started about two and a half years ago, and the last time I checked I'd discussed about five hundred different consumer and small business bankruptcy topics, from the bankruptcy discharge to the automatic stay to the bankruptcy estate to the various bankruptcy trustees and the Judges for the District of Arizona Bankruptcy Court; and the ever popular-first meeting of creditors...

Bankruptcy and Divorce and Love and Sacrifice and Confusion in Arizona

Posted on August 28, 2010
Divorce, and bankruptcy, and love, and confusion, and creditors all make an odd omelet in Arizona. NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE...

Your Lifeboat is Sinking! Your Hindenburg is Dropping! Your Metaphor is Sinking to Its Doom!

Posted on August 28, 2010
Recently a nice small business owner dropped into my office to talk.As is often the case these days, he was initially greeted by Nina, my associate, the smartest young lawyer I've trained in Arizona bankruptcy law in many years. She was Summa Cum Laude undergraduate, you know? Passed her bar exam first time, and soaks up information like a tiny sponge...

Compassionate Bankruptcy Trustee Will Still Take Away Your Tax Refund in Bankruptcy in Arizona

Posted on August 27, 2010
Here in Arizona, we have some remarkably capable, well-qualified, compassionate and experienced Bankruptcy Trustees. I've known a bunch of 'em forever, and some of them I've met more recently. It's hard to be a Bankruptcy Trustee, because their natural human compassion toward those who suffer through an Arizona bankruptcy case is counterbalanced by their fiduciary obligation to collect non-exempt assets to the full extent of Arizona bankruptcy exemption law and Federal bankruptcy law...

Tell Me Again Exactly Why You Think A Chapter 13 Bankruptcy is Your Best Option. Please.

Posted on August 26, 2010
Folks walk into talk to me, and often, they know just enough about bankruptcy law to be dangerous (kinda like me in my first year of practice, you know)?There are a lot of bankruptcy alternatives that sound wonderful, and there's a lot of obsolete bankruptcy information floating around in the form of out-of-date books, and out of date analysis on the Internet...

No Easy Bankruptcy Filings After 2005; But Sometimes Bankruptcy Beats the Alternatives

Posted on August 25, 2010
Getting older is the pits. Your joints creak, your back aches, your hair thins, and don't even talk to me about your energy levels!On the other hand, getting older beats the alternatives, as I point out in my health blog of the same name. Bankruptcy, post 2005 amendments, is similar...

What Assets Will the Trustee Take Away When I File my Bankruptcy in Arizona?

Posted on August 24, 2010
Well, that depends. I once saw a very nice couple lose four vehicles with a combined value of about thirty-five thousand dollars, but they had received exactly zero legal advice, because they had filed a bankruptcy that had been typed up for them by a document preparer...

Arizona Bankruptcy Attorney says get a "Bankruptcy Insurance Policy"

Posted on August 23, 2010
So what's a bankruptcy insurance policy?Well, if you fail to list a particular creditor who believes you owe it money in your bankruptcy, and the creditor lacks actual knowledge of the bankruptcy filing in time to file a complaint or fight about your discharge, you may be sued after you receive your bankruptcy discharge by that omitted creditor...

Arizona Bankruptcy Equals Retirement Planning

Posted on August 22, 2010
Recently I've seen several smart clients who had suddenly awakened and smelled the coffee.They had figured out, independently of anybody else, that if they kept making payments on their credit cards the way they had been, they could never retire.Never...

No Chapter 13 Bankruptcy For You, Me Boyo!

Posted on August 21, 2010
Here's a short video discussing the debt limits, and some other aspects, of Chapter 13 Bankruptcy Cases, and why I prefer Chapter 7 Cases for my clients when I can shoehorn 'em in. It wasn't always like that; over my last 30 years as an Arizona Bankruptcy Attorney, I've filed hundreds of Chapter 13 cases...

Will I Lose My Tax Refund If The Tax Refund Shows Up After I File My Chapter 7 Bankruptcy?

Posted on August 20, 2010
Probably. Either you'll wait to file your Chapter 7 Bankruptcy in Arizona or you'll lose the tax refund. On the other hand, the Chapter 7 Bankruptcy Trustee may decide to give back your tax refund. But not for the reasons you think! Remember, the Pity Pitch doesn't work very well in the Bankruptcy Court, because everybody there has a pretty decent Pity Pitch!But I talk about a couple of the ways that you may be able to keep all or some portion of your tax refund in this educational bankruptcy video; on the other hand, the hands-down most effective way to keep your tax refund is to wait to file until you receive it, spend it for food and a rent or mortgage payment and to pay your bankruptcy attorney, and then file!Here's a video where I discuss the issue (and I'm including an url, which looks funny, but some of the sites where my bankruptcy blog is syndicated don't seem to do a good job of picking up my links or my videos!): http://www...

So Why Are Doctors and Dentists and Lawyers and CPAs Filing Bankruptcy During this Depression?

Posted on August 19, 2010
Here's a short educational bankruptcy video. In it, I talk about why the high-end debtors like doctors, cpas, dentists, and lawyers are filing for the precise reasons that they became high earners; they have a long "time horizon". And therefore they invested their hard-earned money and incurred huge debts in real estate vehicles that looked wonderful! And were!For a while...

Can I Get a Divorce in Arizona and Keep My Wife Out of My Bankruptcy?

Posted on August 18, 2010
Here's an answer to the musical question, can I keep my spouse out of my bankruptcy in Arizona by getting a divorce, and then filing a bankruptcy?Well, not usually. But in this educational bankruptcy video I talk about the issues involved, and point out that it normally won't work very well...

I Just Built a new Anti-Bankruptcy Blog!

Posted on August 17, 2010
I have a new blog, and I'm building it for a simple reason; I'd rather you did not have to file a business bankruptcy or personal bankruptcy of any sort. You heard me right; I don't want you to have to file a bankruptcy. Now, in many cases, you're already halfway down the ski slope and gaining speed each second, so it's too late to prevent a filing of some sort or another for some entity or person or another...

DO NOT LET 'EM TAKE A JUDGMENT! Now, Don't Do Any Bridge Jumping if They Do; But Avoid A Judgment if You Can.

Posted on August 16, 2010
Sometimes a potential debtor will ask whether it matters whether there is a judgment against them. The answer, as in so many areas of the law, is that it depends.In general, you can discharge a judgment about as easily as any other debt. Except. There are those issues with judgments liens, and the fact that it'll make defending a little more troublesome if the judgment creditor files a Complaint to Determine Dischargeability of Debt in your case...

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