What is the difference between chapter 7 and chapter 13 bankruptcy?

Posted on Posted in Bankruptcy

Chapter 7 is the traditional bankruptcy everyone thinks about. Chapter 7 eliminates – discharges – all of your unsecured debts. By unsecured debts, we mean credit cards, medical bills, deficiencies – amounts remaining due – on vehicles that have already been repossessed, etc. Secured debts include vehicle loans and home loans – or any other […]

the information gathering/document preparation stage (Part 2)

Posted on 6 CommentsPosted in Bankruptcy

Bankruptcy lawyers often use paralegals in the information gathering/document preparation stage.  This is because it is a time consuming and often, repetitive process that requires little legal analysis. I’ve combined the information gathering/document preparation stages into one because the data is generally entered as it is gathered.  It is normal to be given a worksheet […]

What to Expect from your Lawyer During the Bankruptcy Process? (Part 1)

Posted on 31 CommentsPosted in Bankruptcy, Foreclosure in Arizona

Every bankruptcy lawyer has a different process when it comes to how they practice.  However, there are general steps that you should expect to experience while going through the bankruptcy process.  These steps are the introduction, the information gathering/document preparation stage, the document review stage, the filing time, the filing day, the 341 hearing and, […]

The TRUTH about BOA’s Mortgage to Lease Program

Posted on Posted in Bankruptcy, Business Law, Economics, Feature Post, Foreclosure in Arizona, Short Sale in Arizona

You have probably heard about this new mortgage to lease program that Bank of America is touting as the next solution to the foreclosure crisis that is again looming as many more Adjustable Rate Mortgages are coming due. Many people may find this option appealing, in general — to stay in the same home you […]