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After The Opt-Out Statute Is Repealed, We Can Use Exemtions in Style in Bankruptcy Cases in Arizona!

By Joseph McDaniel, Esq.

I have a dream. My dream is that the dumb ol' opt-out statute in the Arizona Exemption Laws will be repealed soon. It should be. It does no one any good at all, and it causes poor debtors to lose property they shouldn't need to lose.

For instance, a computer is exempt under the Federal Exemption Statutes, as it should be, because it's pretty obvious that everybody today needs a darn computer, if only to find a job on Monster.com! And you can't do that without a computer, right?

But wait! There's more!

There's no reason that a hubbie couldn't take the Arizona Bankruptcy Exemptions, and the wifie the Federal Bankruptcy Exemptions at 11 USC 522.

And that approach to exemptions in Arizona, and everywhere else, would be a good thing in many cases.

We can't do that in bankruptcy cases in Arizona today, of course; if we could, it wouldn't be a dream!

But this is a Sunday. If you call your legislators tomorrow, and tell them that they've been elected to generate jobs and reduce the suffering of the poor, without raising taxes, and that they can reduce suffering by repealing the Arizona Exemption Opt-Out Statute, they may get off their verandas and do something to help the citizens of Arizona who need help!!!

AND do it without raising taxes.

That's a combo platter!

p.s. no, I didn't say they could horse trade; legislators, don't you dare try to give and take with your right and left. Just repeal the darn opt-out statute!

Full post as published by Arizona Bankruptcy Attorney Blog on November 07, 2010 (boomark / email).