What’s a short sale anyway…. and is it right for me?

Gilbert Short Sale Help
The word 'short sale' has become a bit of a buzz-word in the last year or two. Everyone seems to be talking about it, doing it, or at the very least knowing someone who is going through a short sale. But, in all of that talk, not everyone understands what a short sale really is (it is NOT a way to save your home, for example), how it works, and how it can affect you.

What to Expect in the Weeks Following Your Bankruptcy Filing….

Life After Bankruptcy
Many debtors are stressed during the pre-filing period and it all comes down to the day their petition is filed - paystubs are in, counseling certificate received, bank account balance spent down.... petition filed. Then what? Yes, the creditors meeting - but that is another 30 or so days out. There are a few things that happen in between there, and this blog post will discuss what to expect during this period.

Cash on Hand on the date of filing…

cash in hand during bankruptcy
How much money can a debtor have when filing for bankruptcy? The answer to that is two-fold....for one, surprisingly little, and for two.... only that one day typically matters. This is an overview of how the cash on hand exemption works.

Will the Court Come to My House and Take All My Stuff?

Will the Court Come to My House and Take All My Stuff?
One of the greatest fears of a person contemplating bankruptcy is the fear of losing everything they own, combined witht the embarassment of having the judge or the trustee come to their house and take it all in front of everyone. This post explores how a bankruptcy really affects your assets, if at all.

The Means Test – Is it really as mean as they say? (Part 3)

The Means Test - Is it really as mean as they say? (Part 3)
The first post of this series discussed the first step of the means test, where we look at your average household income and then compare it to the median household income of a household of your size where you live. The second part of this series laid out the exceptions available to the means test. This has probably left a lot of you wondering.... what about those of us that don't fall into any of the exceptions and make too much money under the means test? Are we doomed to be in a Chapter 13. In short, the answer to that question is not necessarily. This post will discuss why and how.

The Means Test – Is it really as mean as they say? (Part 2)

The Means Test - Is it really as mean as they say? (Part 2)
Some people are able to file for Chapter 7 relief even though their income would normally disqualify them under the means test. This blog post discussed the available exceptions to the means test.

The Means Test – Is It Really as Mean as They Say? (Part 1)

The Means Test - Is it really as mean as they say?
The means test determines whether you are eligible for Chapter 7 or Chapter 13 bankruptcy, and plays a large role in the bankruptcy process. The next series of blog entries will discuss how the means test works, and why it is important that you have your numbers reviewed by a competent bankruptcy attorney - and not just fill out a questionnaire online.

What to Expect at your Creditors’ Meeting in Arizona

What to Expect at your Creditors’ Meeting in Arizona

What to Expect at your Creditors’ Meeting in Arizona

Anyone who files for bankruptcy relief has to attend a Section 341 Meeting of Creditors (or Creditors’ Meeting).  This is a requirement under the bankruptcy code, and a debtor will not receive his discharge if he or she fails to appear at the date and time set for the Creditors’ Meeting.… Read the rest

Pop Quiz – BK Nerd Edition….. What do Dr. Pepper, TWA, Bette Midler, Sarah Silverman, and Bankruptcy have in common?

Pop Quiz Mesa Bankruptcy Addition!

Pop Quiz – BK Nerd Edition….. What do Dr. Pepper, TWA, Bette Midler, Sarah Silverman, and Bankruptcy have in common?

Pop Quiz Mesa Bankruptcy Addition!

Something important happened for each of those on December 1:

December 1, 1885: First serving of the soft drink Dr Pepper at a drug store in Waco, Texas.… Read the rest

Bankruptcy Debtors – BEWARE OF SCAM

Mesa bankruptcy forms being revised in December 2015

Bankruptcy Debtors – BEWARE OF SCAM

Across the country, consumers are falling prey to a new scam targeting people who have filed for bankruptcy and others just getting started with the process. Bankruptcy attorneys are joining forces with public officials to sound the alarm bell to unsuspecting consumers.… Read the rest

Why filing for Mesa Bankruptcy in the next 60 days may not be your best bet…. or … why it’s a GREAT idea to hire a bankruptcy attorney

How a Mesa bankruptcy lawyer can help you file for bankruptcy

Why filing for Mesa Bankruptcy in the next 60 days may not be your best bet…. or … why it’s a GREAT idea to hire a bankruptcy attorney

‘Tis the season – for holiday cheer, light, red-nosed reindeer and – possibly unforeseen consequences when filing for Mesa bankruptcy.… Read the rest

News from the Arizona Bankruptcy Court: Free Electronic Noticing Available for Debtors

wrongful death personal injury marco wimmer law firm
[From the Arizona Bankruptcy Court's News & Announcements]

The Debtor Electronic Bankruptcy Noticing (DeBN) program is LIVE nationally! DeBN is a free service that allows debtors to receive court notices and orders via email, instead of U.S. mail, resulting in faster (same-day) delivery and convenient access.

Read the rest

Encouraged and In Good Hands!

I felt encouraged and in good hands from the day I met Kaveh and Andrea – this firm cares about doing their best for you. ~ BK Client, Mesa, AZ

Read the rest

9-0 Decision by United States Supreme Court in Bullard Case

On May 4, 2015, the United States Supreme Court issued its opinion in  A bankruptcy court’s order denying confirmation of a debtor’s proposed repayment plan is not a final order that the debtor can immediately appeal.

Find the full opinion of the court here and a detailed analysis by the talented folks over at SCOTUSBlog here.… Read the rest

Andrea Wimmer of Marco | Wimmer PLLC Published in Consumer Bankruptcy Journal

Five Bankruptcy Cases are up for decisions by the U.S. Supreme Court this term.  Check out the Supreme Court Roundup put together by our very own Andrea Wimmer, in the latest edition of NACBA’s Consumer Bankruptcy Journal Spring 2015!

Included in this issue….Read the rest

Attorneys’ Fees, Fee Applications and the United States Supreme Court

On Wednesday this week, the United States Supreme Court heard oral arguments in Baker Botts, L.L.P. v. ASARCO, L.L.C.on the issue of whether debtors’ counsel is entitled to receive the attorneys’ fees and costs it incurred in defending a fee application objected to by the debtor – their client – and it seems that it did not go so well for the petitioner.… Read the rest

U.S. Supreme Court to Hear Oral Arguments in Bankruptcy Case Today

U.S. Supreme Court to Hear Oral Arguments in Bankruptcy Case Today

The United States Supreme Court is scheduled to hear oral arguments today in the case of Wellness International Ltd. v. Sharif – a case with many unusual twists and turns that nevertheless gets us to a pretty significant question for bankruptcy practitioners – one of jurisdiction.… Read the rest

Can a Bankruptcy Help Me Get Rid of The Judgment on My Credit Report?

bankruptcy help credit report

Can a Bankruptcy Help Me Get Rid of The Judgment on My Credit Report?

As I found out the very hard way my first year living in these United States, your “credit” matters.  I learned that having “credit” or “good credit” does not mean that one is debt free (on the contrary), but rather it refers to this obscure score card that 1-3 companies keep on you, your debts, and your payment history.  … Read the rest

Mortgage After Bankruptcy – NY Times Analysis

Interesting article in the NY Times about getting a new mortgage after a bankruptcy has been filed:

11-4-2014 Post-Graphic - Source NYTimes

Source: The New York Times

A personal bankruptcy stands out as a conspicuous blemish on a consumer’s credit report for as long as 10 years.

Read the rest

Reaffirmations – or – Do you really need THAT?

Do I really need a bankruptcy reaffirmation agreement?
Blog post explaining what a reaffirmation really means for a Chapter 7 debtor, and things to keep in mind before jumping into one.

Proof of Social Security Number at your Creditors’ Meeting

The Social Security Administration (“SSA”) has advised the US Trustee’s  office that the SSA will discontinue providing Social Security Number printouts effective August 1, 2014, to protect the integrity of the Social Security number and prevent fraud.  For proof of Social Security Number, the person/debtor will have to request a replacement Social Security Card by completing the application for a Social Security Card [Form SS-5] and providing the required documentation.  Read the rest

Why ‘Failing the Means Test’ is not as bad as you think it is!

Why 'Failing the Means Test' is not as bad as you think it is!

Why ‘Failing the Means Test’ is not as bad as you think it is!

Individuals filing for bankruptcy protection have three different “Chapters” available to them. Chapter 7 – the Liquidation Bankruptcy, Chapter 13 – the Reorganization Bankruptcy and Chapter 11 – the Chapter typically associated with businesses who wish to reorganize but nevertheless an option for individuals.… Read the rest

Yay – I got my discharge! So I’m done now, right?

Yay - I got my discharge! So I'm done now, right?
One of the most confusing things for debtors in bankruptcy is the fact that once their discharge is entered, the case is not in fact closed, and they are not quite done. This post discusses the two track system of a standard Chapter 7 case, and why you are not quite done once the discharge is entered.

What happens if foreclosure is postponed? Do I get another notice before the sale?

What happens if foreclosure is postponed?
In a staggering amount of cases that come across my desk, the bank issues a Notice of Trustee's Sale that tells the homeowner the exact date and time their house is to be sold at auction - only to then postpone the sale. Whether the reason for the postponement is a bankruptcy that was filed, a loan modification that is furiously trying to be worked out, or a short sale offer that peaked the bank's interest, the result is inevitably the same: Confusion, stress and worry on the part of the homeowner plagued with the most pressing questions of them all "When do I have to be out of my house?"

I don’t want to include my….. in the bankruptcy – do I have to?

What all do I have to include in my bankruptcy petition?
One of the greatest misconceptions in the world of bankruptcy is that a debtor can pick which debts to 'include' and which debts to 'keep'. This blog entry discusses why it is not that simple, and why it is important to talk this out with an attorney, to make sure you understand all of the effects of your filing.

411 on the 341: What to Expect at your Meeting of Creditors

Anyone who files for bankruptcy relief has to attend a Section 341 Meeting of Creditors (or Creditors Meeting). This is a requirement under the bankruptcy code, and a debtor will not receive his discharge if he fails to appear at the date and time set for his creditors meeting. Instead, his case will be dismissed, and the debtor has to re-file and face the consequences associated with that. This blog post discusses what to expect at your creditors meeting.

Exempt Purposes – what does THAT mean?

there is a right way to plan for your bankruptcy, that is recognized and allowed by the law, and then there is a wrong way, and the wrong way can lead to a number of headaches down the road (including but not limited to having the trustee knock on your mom's door telling her that she has to return the money you just paid her back). If you are contemplating bankruptcy, it is important to speak to an attorney as early in the process as possible, so you can be sure to avoid some of these common mistakes.

I think I need to file for bankruptcy – what do I do next?

Are thoughts like this going through your head? What about "Which bills should I pay this month...?" or "Why won't they stop calling me?" If you find yourself in a financial situation that is worse than what you had hoped for in this stage of your life, and for whatever reason you find that your debts are eating you alive, bankruptcy just may be the answer to your questions. This post takes you through the first few steps of figuring out what is the right path for you.

I’ve been sued….is it too late to file for bankruptcy?

I've been sued....is it too late to file for bankruptcy?
Everyone knows the general concept that a bankruptcy stops creditors. However, when there is a law suit is involved, the level of confusion usually goes up. This blog post discusses how it works.

Arizona Anti-Deficiency Laws – Am I Protected?

Arizona Anti-Deficiency Laws - Am I Protected?
If you live in Arizona, and you have done any kind of research about what happens if you just 'let your house go to foreclosure' you have probably come across the Arizona Anti-Deficiency Statutes (ADS), and you have probably walked away confused. The Arizona legislature, back in the late 70s/early 80s enacted a couple of laws that protect consumers - people like you and me. Unfortunately, as is the case with most laws, it is a bit complicated to understand, and depends heavily on facts. Here is a quick overview of how it works.

Chapter 13 Bankruptcy and Your Second Mortgage

Chapter 13 Bankruptcy and Your Second Mortgage
Chapter 13 bankruptcy can be a great tool for those with some income, to get back on their feet, save their home, and possibly even get out from their second mortgage. This post addresses in general terms how that particular aspect of a Chapter 13 works.

Can I file for Chapter 7 Bankruptcy in Arizona if I have a Second Mortgage?

Can I file for Chapter 7 Bankruptcy in Arizona if I have a Second Mortgage?
Filing for Chapter 7 can have an impact on your home, and your second mortgage. It is important to understand how the law and the real estate market conditions play together to determine your options.

Can I keep my house if I file for bankruptcy in Arizona – Part 2

Can I file for bankruptcy to stop the foreclosure on my home? Well.... depending on your situation, a bankruptcy filing can either postpone the foreclosure of your home - giving you some extra time to find a suitable new home for your family, or, if you have sufficient income, it may allow you to save the home from foreclosure altogether. This post discusses generally, how this works.

Chapter 13 Bankruptcy – A Brief Overview

A Brief overview of Chapter 13 bankruptcy
An general overview of how Chapter 13 bankruptcy works and why it might be the right or wrong thing for you.
Disclaimer: The information in this web site is not intended to constitute legal advice or to create an attorney-client relationship. The information, documents or forms provided herein is intended for general information purposes only and must not be regarded as legal advice. Laws change periodically; therefore the information in this site may not be accurate. It is imperative that you seek legal counsel in order to ascertain your rights and obligations under the applicable law and based upon your specific circumstances.