bankruptcy blog

Actor Danny Trejo Declares Bankruptcy Due To Back Taxes

Danny Trejo has long been known for his tough-guy persona and has become even more well-known due to his foray into the culinary industry. This former convict has already turned his life around at least once, but news has recently broken of Trejo’s Chapter 11 bankruptcy filing earlier this year. He is hardly the first famous actor to declare bankruptcy, and probably won’t be the last. It [...]


Will The Diamond Sports Group Bankruptcy Filing Impact Arizona Sports?

The economy has been volatile for the past few years, and many large corporations have been forced to declare bankruptcy. One of the latest companies to file bankruptcy is Diamond Sports Group. Diamond Sports Group holds the broadcasting rights to the Phoenix Suns, Coyotes, and Diamondbacks. Phoenix sports fans probably don’t need to worry about their ability to watch their favorite team play on TV. Read on [...]


Costumes From That “Dance Moms” Scene Sold In Post-Bankruptcy Sale

It has been several years since Dance Moms aired new episodes, but it had many moments that were memorable for reality television fans. One of the most shocking moments of the series was when Abby Lee Miller, the notorious dance instructor, had her very young dance team perform a number called “Electricity.” Parents and fans disapproved of both the choreography and the revealing costumes that the girls [...]


Bankruptcy & Security Clearance: Will Discharging Debts Make Me Lose Career Opportunities?

With the cost of living increasing faster than ever, more people live paycheck-to-paycheck, which also means more people are in peril of falling into debt from an unexpected financial emergency. An illness, injury, car maintenance issue, a leaky roof, etc., could all cause a family that would have been relatively wealthy a few decades ago to fall into default on their bills and risk financial ruin. Filing [...]


How Much Debt Is “Enough” For Bankruptcy?

What Is The Minimum Debt Required For Filing for Bankruptcy Even relatively small amounts of debt can jeopardize your financial situation and entire way of life. Many American families live paycheck to paycheck, so unexpected setbacks can have much more serious consequences. Falling even one month behind on a bill could mean swift action by your creditors. But you might not have enough debt to justify filing [...]


Shopping Addiction & How It Can Lead To Bankruptcy

Our Mesa Bankruptcy Lawyers Discuss a Serious Issue That Is Often Ignored & Can Lead To Massive Debt Almost everyone is guilty of using retail therapy at least once or twice to deal with an emotional issue. Sometimes when you’re feeling down, a new pair of shoes or décor item for the home can lift your mood. But when someone becomes dependent on the feeling they get [...]


Arizona Bankruptcy Exemptions: A Detailed Overview

Arizona Bankruptcy Law & ​​Exemptions: What Are They? Many people assume that when you declare bankruptcy, you must give up all of your assets. This is only partially true, and only if you declare Chapter 7 bankruptcy versus Chapter 13 bankruptcy. Each state has bankruptcy exemptions, which are limits on how much equity you can hold in certain types of assets when you file bankruptcy. Failure to [...]


Boris Becker, Former Tennis Champion, Sentenced To Prison For Bankruptcy Fraud

Boris Becker Convicted For Two & Half Years In Prison For Hiding Assets In Bankruptcy What’s the worst that could happen if you lie on your bankruptcy petition? Many people think the answer to this is that your case could be delayed or dismissed, or some of your debts will be excluded from your bankruptcy discharge. But there are countless ways you can violate the Bankruptcy Code [...]


HOA Liens, Foreclosure, and Bankruptcy in Arizona

How To File Bankruptcy If You Owe HOA Liens When you owe HOA liens (HomeOwner Association Liens) and other liens on your home, a foreclosure or bankruptcy sale is going to be a bit more complicated than if you didn’t. HOA liens have a high priority in Arizona, and can take precedence over your other creditors. Misunderstanding of these Arizona rules can result in a less strategic [...]


My Arizona Home’s Value Has Skyrocketed. Can I Still File Bankruptcy?

How Fast Rising Housing Prices In AZ Can Impact Bankruptcy Filings Our Chandler Bankruptcy Lawyers take a look at how the fast rising housing prices in Arizona impact the ability to file for bankruptcy and keeping your house. There are different chapters of bankruptcy that can be helpful in attempting to keep save your house from foreclosure in Arizona. When it comes to employment, housing prices, and [...]


Using Retirement Savings To Pay Off Debt vs. Filing Bankruptcy

Is It Better To File For Bankruptcy Or Use Retirement Savings To Pay Your Debts? When You Declare Bankruptcy in Chandler or Gilbert, Arizona, There Are Limits in How Much Equity You Can Hold in Every Type of Asset. Our Chandler Bankruptcy Lawyers Discuss If Your Retirement Savings are Protected in Bankruptcy, and Whether It’s Better to File or Use Retirement Savings to Pay Your Debts.  Sometimes [...]


What Happens When You Are Stressed About Money & Filing Bankruptcy In Arizona

Debt-Related Stress: Can Filing For Bankruptcy Reduce It? If you’re struggling with debt, you’ve probably spent several sleepless nights tossing and turning, wondering how you will ever get out of this situation. You may have lenders threatening to repossess your car or home. You may even be worried about your utilities being shut off or not having food to put on the table. This is no way [...]


The True Cost Of Filing An Arizona Bankruptcy

Our Chandler, Arizona Bankruptcy Lawyers Sum Up The Hidden Expenses Of Declaring Bankruptcy Bankruptcy is meant for people whose debt has gotten out of control. So it is surprising for many of our potential clients to learn that filing bankruptcy isn’t exactly cheap. In fact, if you are only concerned about one or a few debts, it may be more cost-effective to pursue a route besides bankruptcy. [...]


Ascena Retail Group Closing Stores After Filing For Chapter 11 Bankruptcy

Four Arizona Lane Bryant Stores Closes In Ascena Retail Group Bankruptcy Our dedicated bankruptcy lawyers understand that clients deserve more attention and hands on time from their bankruptcy attorney. We also realize that many companies are struggling with the current Covid-19 pandemic. Additionally, many people in Maricopa, Pima, and Pinal counties are out of work. Therefore, with so many lives being financially ruined, the bankruptcy attorneys at [...]


Gym Chain With Four Arizona Locations Declares Bankruptcy

The coronavirus pandemic has caused an upheaval in the United States economy, with one of the biggest victims being the fitness industry. State mandates closing gyms for weeks earlier in the year, as well as continued pandemic restrictions and reduced clientele due to health concerns have all but decimated fitness-related businesses like gyms, supplement retailers, and more. The latest fitness chain to seek the protections of Chapter [...]


XFL Has New Owner

Dwayne “The Rock” Johnson Purchases XFL from Former Boss Vince McMahon in Bankruptcy Sale Dwayne “The Rock” Johnson has been able to leverage his wrestling career into A-lister status, starring in blockbusters like Jumanji, Moana, and Baywatch. Even though it may be partially or fully thanks to WWE CEO Vince McMahon, that didn’t stop Johnson from buying his former employer’s failed football league in a recent Chapter [...]


Chandler Fashion Center’s Nordstrom is Closing

The spread of coronavirus has caused businesses of all kinds to shut their doors, leaving their employees furloughed or laid off. Some of the stores being hit the hardest are brick-and-mortar fashion retailers. Millions of Americans are struggling financially, and self-isolation activities don’t exactly warrant a fashionable new wardrobe. Despite Arizona allowing businesses to reopen earlier than many other states, stores haven’t been immune to the mass [...]

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