Stein Mart declares bankruptcy blog

Stein Mart Files Chapter 11 Bankruptcy

Stein Mart Files Chapter 11 Bankruptcy

Stein Mart declares bankruptcy blogOn August 12, 2020, Stein Mart declared Chapter 11 bankruptcy. The discount retailer  is one of many large companies to seek the protections of Chapter 11 since the onset of the coronavirus pandemic. The company’s future is uncertain and employees are preparing for the end of business. 

What Led to Stein Mart’s Demise

Stein Mart has been in business since 1908. It has since grown to 280 locations across 30 states. The company will continue to operate for the foreseeable future, but will likely hold a going out of business sale starting the weekend after the bankruptcy was filed. Unless the company finds a buyer, CEO Hunt Hawkins predicts that the chain will be fully closed by October. 

Stein Mart was already facing financial struggles before the start of the pandemic. Sales at the beginning of this year were $134 million, compared to $314 million for the same period the year prior. Then on March 18, 2020, Stein Mart closed all of its locations in accordance with COVID-19 social isolation guidelines. While locations have begun to reopen with restrictions, the damage has already been done. The company reported approximately $200 million in debts in May 2020. Stein Mart borrowed $10 million for a payroll protection loan under the Coronavirus Aid, Relief and Economic Security (CARES) Act. 

Stein Mart has approximately 8,000 employees who have been furloughed for the past few months, and will need to start looking for new employment. Thankfully for these Stein Mart employees, the extra $600 weekly federal benefit provided by the CARES Act, which was originally set to expire on July 31, 2020, has been extended at a reduced rate of $400 per week until January 31, 2020. 

Business owners considering Chapter 11 need to remember how expensive and complicated of a process it can be. Stein Mart has hired three separate firms for advice and guidance during the Chapter 11 process. Foley & Larder is Stein Mart’s restructuring counsel, Clear Thinking Group is its restructuring adviser, and PJ Solomon is its investment advisor. The company’s stock fell 35% upon filing. 

Chapter 11 Bankruptcy, Explained

Chapter 11 business bankruptcy blogWhile it appears that Stein Mart will be shutting down for good through its bankruptcy filing, Chapter 11 doesn’t require that of a business that files. A company will typically choose Chapter 11 when it wants to remodel the business, because the other option, Chapter 7, requires the business to close and surrender all assets. Once a company files Chapter 11, its main creditors will form a committee that will have authority over major business decisions. The company will submit a plan to the committee on how it should restructure its debt and emerge from bankruptcy. If the committee doesn’t agree to the plan, they may submit their own. 

Chapter 11 has become even more prevalent in this COVID-19 climate. It is a pandemic like no other in recent memory, Many people throughout Tucson, Arizona, and the United States are dealing with tough economic times. Seek assistance if you are struggling to make ends meet. There are a myriad of Tucson Debt Relief options available.

Other Popular Companies to Declare Bankruptcy During the Coronavirus Pandemic

So far, 2020 has seen a 26% increase in Chapter 11 bankruptcy filings. Some of these include: 

Is Your Stimulus Check Safe or Will It Get Seized for Debt Owed?

economic stimulus check and bankruptcy blogOn 5/10/2020, Our Arizona Bankruptcy Lawyers Team writes:

The spread of Coronavirus has caused many businesses across the country to restrict their services or close entirely. Some businesses that could still operate are having difficulty obtaining shipments from overseas suppliers due to labor shortages. This state of semi-shutdown is set to continue indefinitely, at least until the end of the month. Fearing an economic recession, lawmakers passed a bill to send out $1,200 stimulus checks to Americans who qualify. If you were already in debt before the pandemic started, you may be concerned about your creditors taking your stimulus check.

READ MORE

Tucson bankruptcy attorney

Arizona Unemployment a Predictor of Bankruptcy Increase

On 4/2/2020 our Tucson Bankruptcy Lawyers write:
Record Unemployment Rates could be a clear indicator of the dark financial days looming.
Tucson bankruptcy attorneyNationally, for the week ending March 28, 2020 there were over 6.6 million unemployment claims filed.  In Arizona, there were 89,100.  Both were record setting numbers.  These numbers are reflective of beforeGovernor Ducey put an April 1st “Stay at Home” order into place.  Next week’s numbers will probably be even higher as the first week of Ducey’s order will be reflected.  Early estimates are claims will be in the hundreds of thousands in Arizona alone next week.
With little relief in site, the financial futures of thousands of Tucson residents hang in the balance. The high numbers of unemployment claims are in direct correlation with the COVID-19 pandemic that has not only impacted Arizona but all of the world. Though roughly 93% of all Tucson residents who have filed taxes will be receiving stimulus aid from the government in the near future.  This much needed money will only go so far when so many Tucson residents are facing job loss and a questionable future.
One of the leading causes of people needing to file for bankruptcy is the loss of a job.  The number one reason that people file bankruptcy is medical expenses.  The current Coronavirus pandemic unfortunately could impact a person’s life negatively through either loss of a job/income, through unexpected medical bills or both.
If your life has been impacted by the COVID-19 virus and need to save your home, your vehicle, or just need debt relief and a “Fresh Start”.  Call our Tucson bankruptcy lawyers today.  Our Tucson office is currently offering Bankruptcy by Phone.  This option is available here to help you.  Not only are you able to complete your free initial consultation but also through telephonic, scanning, e-mailing, and other Coronavirus safe methods.  Call our Tucson office at (520) 307-0020.  We are open and here to help you through this current pandemic.

Tucson Company Vector Launch Files Chapter 11 Bankruptcy

Vector Launch developed rockets at a facility in Tucson, Arizona. Vector Launch, Inc., based in Tucson, has suspended its development of rockets to launch small satellites. The bankruptcy plan is to sell some assets to Lockheed Martin Corp. (an aerospace company), then auction the rest. Vector’s board agreed to a loan provided by Lockheed Martin as well as Lockheed’s purchase of the GalacticSky assets.  This chapter 11  bankruptcy may save the business but if agreements cannot be made with it’s creditors, it may be the end of the line for the company.

In response to a management shift and change in financing, the Tucson-based small satellite startup company, Vector Launch Inc. will stop most operations. 

Vector, a small-launch vehicle company in Tucson, Arizona, filed Chapter 11 bankruptcy in December, 2019.  At one time a leading company in the small launch vehicle market, Vector paused operation for a “significant change in financing” and a lay off of almost all its employees.  Vector will hope to reorganize under the Chapter 11 bankruptcy provisions.
Chapter 11 bankruptcy is a bankruptcy designed for businesses who want to re-organize their debt and continue business as they reorganize and it gives them time to pay their creditors over time.  Chapter 11 bankruptcy is the 3rd most popular form of bankruptcy in Tucson based on the Pima County Bankruptcy filings for 2019.

A financial summary reportedly puts Vector’s assets between 10 and 50 million dollars and its debt between 1 and 10 million dollars. With a Chapter 11 bankruptcy, the debtor devises a plan to repay creditors, while they are protected from legal debt collection actions. Vector was founded in 2016 by Jim Cantrell, a veteran of Space X (Elon Musk), has been backed by major venture-capital firms investors. Approximately 50-70 Tucson employees are expected to enter the world of unemployment due to the Vector Launch misfortune.  Cantrell was replaced as CEO of the company by John Garvey earlier in 2019.

An Increase in Minimum Wage Has an Impact on U.S. Workers

Federal minimum wage was created in 1938. Since 1938, the minimum-wage has increased from $.25 to $7.25.  Congress holds the power to set the federal minimum wage. For the longest time in history, (in over 10 years)  Congress has not raised the wage. The federal minimum wage is currently $7.25 an hour. The Congressional budget office is evaluating the impact of increasing the federal minimum wage further. A new report considers what the impact in our country would be if the federal minimum wage was raised to $15 an hour (by the year 2025).

Raising the minimum wage is an issue that spars heated debate. A reported it 27 million people would benefit from the increase in pay. Getting paid more as inflation increases sounds like a good idea. However, there are arguments for and against raising minimum-wage to $15.00.  Some critics opposed to raging raising the minimum wage say employees would actually lose their jobs because employers would not be able to afford paying that wage increase. Currently it is uncertain that the increase in the wage would have an effect on employment.

The current minimum wage in the United States is $7.25 per hour. A survey reveals that 55% of registered voters would be in favor of raising minimum-wage to $15. While Inflation in our nation is holding steady, the purchasing power of the $7.25 minimum wage has declined over the past 10 years. With a purchasing power decrease at the current minimum wage of $7.25, full-time minimum wage workers experience a $3000 loss and annual earnings.

Here is another way to look at this: in 1968, buying power reached its peak, and minimum-wage lost 31% in purchasing power. When all this is taken into consideration, in effect, minimum-wage workers “earn” approximately $6800 less than they would have earned in 1968 (in 1968 the minimum wage was $1.60). The impact on the federal budget and raising the wage even to 10 or $12 is not clear. Yes, raising the minimum wage to $15 an hour would boost pay for almost 17,000,000 workers. On the other hand, there are legitimate concerns that possibly 1.3 million workers will lose their jobs as a result of increase in minimum wage.

An increase in minimum wage may lead to loss of jobs, and therefore, loss of income.  Losing a job is one of the leading factors in U.S. citizens filing for bankruptcy.

Southern Arizona Gets Unexpected Snowfall

Southern Arizona Gets Unexpected Snowfall

Are You Prepared for the Unexpected?

Unexpected snowfall in Arizona. February 21, 2019

An unexpected cold front has led to a rare snowfall in Southern Arizona this week. Areas such as Scottsdale, Goodyear, and Tucson saw the unexpected snowfall while in northern Arizona Flagstaff broke a record set in 1915 with an astounding 31 inches of snow in a single day.  Would you be prepared if an unexpected financial burden happened to you?

Did you know that filing for bankruptcy is often unexpected as well? Often there is a common misconception that people declare bankruptcy because they are simply irresponsible with their budgeting and spending. The assumption that a debtor recklessly racked up their credit cards with vacations, shopping, and outlandish purchases are often furthest from the truth. Sometimes unexpected situations arise that lead to the necessity of filing for bankruptcy.  Much like the weather, these “situations” come out of the blue.
A view of the snowfall in Arizona.Loss of employment is another common cause of bankruptcy filings in Tucson, Arizona. In the housing crisis of 2008-2009, many people in the real estate industry found themselves in this situation. When their income decreased, their expenses stayed the same.  Eventually, many people ended up bankrupt.

When an unexpected change in income occurs, people often have to rely on their credit cards

to make up the difference. This does not mean that they are irresponsibly charging. Credit cards are often used in emergency situations as well such as home or car repairs. Credit cards can be a great backup plan as long as they are used responsibly and payments are made on time.

Furthermore, another main cause of bankruptcy filings are deaths or divorces, which are also often unexpected. There are times when a spouse dies and their retirement income may stop being received by the surviving spouse. In the event of a divorce it is usually difficult to continue to pay necessary expenses on a single income. Additional reasons for declaring bankruptcy in Tucson include:  Student Loan Debt, Loss of a Home or Car, and a higher cost of living.

An unexpected snowfall blankets Arizona. February 21, 2019

A Harvard University study recently found that over-spending barely breaks into the top 10 reasons that lead to a person filing for bankruptcy.  Medical Debt was the number one reason that a person files for bankruptcy.  According to the study, medical debts lead to over 60% of bankruptcy filings. This number also includes those who have some sort of medical insurance. Unexpected medical procedures and things like a heart attack can lead to thousands upon thousands of dollars of debt.

Make sure that you are prepared for the unexpected.  If you are facing unexpected debt or a financial crisis, get in touch with a Tucson debt relief expert to let you know the many options available to you.  Call (520) 307-0020 for a free consultation.

Arizona snowfall event.

It’s Not Your Fault! Dealing with Bankruptcy Guilt

Many people reach the point where they know that they need to file for bankruptcy but resist doing so because of the many myths and stereotypes surrounding the legal process. Others file but continue to live with guilt over doing so, feeling like they have let down their family or done something bad.

The truth is that it is not your fault! Bankruptcy was established by law to provide debt relief to those who need it, and it is a valuable financial tool. Here are a few things you can do to move past the stigma and get over your guilt surrounding the idea of filing for bankruptcy:

It's Not Your Fault! Dealing with Bankruptcy Guilt

It’s Not Your Fault! Dealing with Bankruptcy Guilt

Bankruptcy was established by law to provide debt relief to those who need it, and it is a valuable financial tool.
Tucson, Arizona

Understand the Truth about Bankruptcy

There are many myths surrounding bankruptcy that can make you think negatively about it, but your bankruptcy lawyer can help you understand the truth about these myths.

Myth #1: Only irresponsible spending leads to bankruptcy. The truth is that there are a great number of situations that can lead to financial problems. You might lose a job unexpectedly and be unable to find employment. You can burn through your savings and max out your credit cards while you are trying to stay afloat. You could become seriously ill or injured and face the same predicament. Or you could divorce and lose a great deal of income. There are many things that can happen that are beyond your control that lead to bankruptcy.

Myth #2: Only the poor or uneducated file for bankruptcy. You can just look at the news to know that this isn’t true. High-profile billionaires like Donald Trump have filed for bankruptcy several times. Bad things can happen to anyone, regardless of education or status. It is not always bad choices that lead to bankruptcy.

Myth #3: Bankruptcy doesn’t affect a lot of people. In Arizona alone, more than 50,000 people file for bankruptcy every year. Many, many more are in situations that bankruptcy could help but are struggling not to file because of the misconceptions they have about the process.

By understanding the truth about bankruptcy, you can maintain the proper perspective about your filing and let go of that guilt.

Be Honest about How Your Finances are Affecting Your Situation

Tucson Bankruptcy Help
Many people put off filing for bankruptcy because they deceive themselves about their financial predicament. They believe that things aren’t that bad, or they tell themselves that they will have the situation under control “soon” by working harder or getting a loan.

When you are honest about your financial situation and how it is impacting your life, you can be objective about the choice to file bankruptcy and know that it is the best solution. You won’t feel guilty about making that choice because you’ll see that it is the best way to handle your finances and will provide the most benefits. You can liken it to taken medicine that you don’t like so that your body will heal.

Forgive Yourself for the Things You Cannot Control

Bad things happen to even the best people. You can’t control whether a tornado destroys your home and wipes out your savings or whether your spouse gets cancer and medical bills reach into the hundreds of thousands. Even with the best planning and the most fastidious of savings, you won’t be able to come through the other side of some of these situations unscathed.

Forgive yourself for the things that led to your situation that you cannot control, and let go of the guilt you feel. If bad decisions led to your bankruptcy filing, forgive yourself for those, as well. Learn from your mistakes and vow to make better decisions going forward.

Accept that Bankruptcy is a Legal Right

Filing for bankruptcy isn’t a way to game the system or “get one over” on your creditors. In fact, there are provisions built into the bankruptcy law to ensure that no one is able to spend prolifically with the idea of discharging it all in bankruptcy.

Accept bankruptcy for what it is: A legal right. The law was designed to protect people like you who are struggling. It is not social welfare — it is a legal way to get out from under crushing debts when you do not have the means to pay for them. That way, your life is not destroyed and you have the chance to start fresh.

Learn more about bankruptcy and how it might help you by calling My AZ Lawyers. Our experienced Tucson bankruptcy lawyers will help you understand the different types of bankruptcy and how each might help you get the debt relief you need. You may be able to completely discharge your unsecured debts, such as credit card balances, or you may be able to get a structured debt repayment plan with lower interest rates. Contact us today to talk with a bankruptcy lawyer and learn about your options.

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My AZ Lawyers

Tucson Location:
2 East Congress St., Suite #900-6A
Tucson, AZ 85701
Office: (520) 441-1450

 

The Reason Tucson Lottery Winners End Up Filing for Bankruptcy

The day you’ve dreamed of finally comes: Those winning numbers on the screen match up with the winning numbers in your hand, and you’re now worth millions. If the lottery jackpots keep growing the way they have, you could even end up being worth billions. In that moment, you are set for life.
Or are you?

The Reason Tucson Lottery Winners End Up Filing for Bankruptcy

The Reason Tucson Lottery Winners End Up Filing for Bankruptcy

Here are just a few of the reasons that many lottery winners eventually file for bankruptcy!
Tucson, Arizona

Many lottery winners thought that they had more money than they would ever need or be able to spend but were surprised to find themselves filing for bankruptcy after a few short years. How can that have happened? How can they have been on top of the world one moment and at the
bottom in such a short time? Here are just a few of the reasons that many lottery winners eventually file for bankruptcy:

Spending Like Crazy

If you suddenly had several hundred million dollars, you’d probably do what a lot of other lottery winners have done: Go out and buy a house (or two or three), a few cars, a whole new wardrobe, some pricey jewelry, and some other treats. The problem is that once you start spending like there’s no
bottom, you tend to keep spending like that until you actually find the bottom.

In order to avoid losing it all, you need to set up a financial plan immediately after you learn about your winnings. In fact, you should see a financial advisor, a tax lawyer, and an estate lawyer before you even collecting your winnings. This team will help you establish a spending and investing plan, including how much you will have to spend each month. You may scoff at the idea of a budget when you have so much money, but it is essential to helping you stay on track. The more money you have, the more you’ll spend, unless you put budgetary measures in place.

Giving Money to Family and Friends

Right after buying their dream home, the next thought most people have after winning the lottery is to help out their family and friends. They want to buy everyone houses and cars, pay off debts, and pay for college tuition.

While these are certainly noble goals, you can easily lose all your winnings by trying to help out family and friends. Even if you have very specific ideas in mind about who you will help and how, you are likely to be inundated with requests from family and friends that you haven’t even talked to in years. You’ll also likely be subject to numerous requests for hand-outs, even from those you have already helped.

When you consider helping family and friends, you have to think about more than just the cost of the request. Depending on what you give and how much you give, you could end up paying some hefty taxes on the amount. For example, you can typically pay for college tuition tax-free, but you can’t just give someone $1 million in cash without paying tax.

The best thing to do is consult with a tax lawyer and an estate lawyer about how you can help family and friends. You may be able to set up trusts for family or put people on your figurative payroll to help them out. An experienced Arizona attorney can help you understand what’s possible.

Making Unwise Business Investments

The state of Arizona does not allow lottery winners to remain anonymous. You can stay undercover for 90 days after you collect your winnings, but after that, your name becomes a matter of public record. After that, you will inevitably get all kinds of offers for investment and business opportunities that are promised to make you even more money.

Unfortunately, as a lottery winner, you are an easy target. It can be very difficult to distinguish the legitimate offers from the scams. The best way to protect yourself is to work with a team of financial advisors who can put together a sound investing strategy based on your individual goals and tolerance for risk.

That doesn’t mean that you can’t invest in business. But just keep in mind that having money doesn’t suddenly make you a business guru. You need to educate yourself before making any kind of investments, and that may mean getting more education in addition to working with professionals.

Not Saving for Retirement

How to prevent filing for bankruptcy in Tucson
Though you may not be able to imagine ever running out of money after winning the lottery, it is still a possibility. You will still need to save for retirement, just like everybody else. You’ll just have the means to save a lot more than others and to do so a lot more quickly.

Here’s where working with the right financial advisor can help. You can learn about savings opportunities in addition to the standard options such as the Roth IRA. Your financial advisor can also help you put together a plan for your health care, including the potential for serious illness.

When you are thinking about retirement, you should also think about your estate planning. Here’s where working with an estate attorney and possibly a tax attorney can help. You will learn about the right trusts and other measures to put in place to maximize what you leave to your family and minimize what you lose in taxes.

Winning the lottery is a dream come true. Don’t let it become a nightmare by losing everything that you gained and find yourself consulting with an attorney on how to file for bankruptcy.

If you do find yourself in financial trouble — whether you have won the lottery or not — My AZ Lawyers can help you find a Tucson bankruptcy attorney who can help you understand bankruptcy law and how it can help you get the fresh financial start you need. Bankruptcy law was established to give people just like you the chance to free yourself of overwhelming debt and to start over. Work with one of our Tucson bankruptcy lawyers to file for bankruptcy or to learn more about your options.

Published By:
My AZ Lawyers

Tucson Location:
2 East Congress St., Suite #900-6A
Tucson, AZ 85701
Office: (520) 441-1450

 

Do I Need to Hire an Attorney to File Bankruptcy?

Having a bankruptcy attorney can help streamline the bankruptcy process and make your bankruptcy filing financially safer.

The idea of filing for bankruptcy in Mesa can be a hard process for many to comprehend. While you do not technically need an attorney in order to file for bankruptcy, there are numerous advantages to having a qualified bankruptcy lawyer.  Don’t face declaring bankruptcy without an experienced bankruptcy lawyer by your side.

One of the benefits is that hiring the services of an attorney takes all of the uncertainty out of the process of declaring bankruptcy. It is scary not knowing what will happen with your finances. Being afraid that you may have made a mistake (if filing bankruptcy without an attorney) could make your bankruptcy claim fail, you could lose your home, your assets, and could be held liable for debts that you may have thought you paid off prior.  One of the many pitfalls of filing bankruptcy on your own is when bankruptcy filers pay a one creditor and not another.  A Bankruptcy Trustee may step in and say that your payment was a “Preferential Payment” and you may have to pay that money back to your bankruptcy estate.

Bankruptcy is a very time consuming process, and having to fill out everything by yourself can be stressful, unnecessary, and sometimes impossible.  Hire an attorney from a top rated Mesa bankruptcy law firm to file bankruptcy, who is trained in this field, can help take all of the uncertainty out of the process. The bankruptcy process can be very complex, and trying to fill out all of the forms accurately can be very time consuming and stressful. Having an experienced bankruptcy attorney on your side can sometimes make all the difference in making sure your bankruptcy goes through the bankruptcy courts successfully.

A bankruptcy attorney, like the bankruptcy lawyers at My AZ Lawyers, PLLC can also help you by representing you in court. If you choose to use a Doc Prep or a Document Preparation Company, please be aware that they CAN NOT represent you in court!  Document Prep companies advertise for cheap rates but they only provide you with paperwork and little guidance, they will not represent you in court and they are little help to you when facing your 341 Meeting of Creditors or another Bankruptcy Lawyer fighting for your creditors.

Hire an attorney to file bankruptcy so you don’t have to go up against another attorney all by yourself.  Your bankruptcy lawyer in Mesa can help you prepare your case. Look for a bankruptcy attorney who will also field all calls from your creditors in the meanwhile, that way you will not be harassed by unwanted calls or badgering bill collectors. Filing bankruptcy is a stressful time, and having to go to court by yourself without a professional can sometimes be nearly impossible. Hire an attorney to file bankruptcy and let him Let us help you find a bankruptcy lawyer that is right for you.

In the long run, hiring an attorney to file bankruptcy can allow you to get on with your life and enjoy your “Fresh Start”. Instead of constantly having to fill out paperwork, go to court, research bankruptcy laws, bankruptcy forms, and dealing with bill collectors and creditors, let your bankruptcy lawyer deal with all of that.  Bankruptcy lawyers are there to protect you and your rights. Hire an attorney to file bankruptcy for you today.

Mesa Bankruptcy Lawyers
4065 E University Dr #500
Mesa, AZ 85205
(480) 470-0005

 

When to Choose Chapter 13 Bankruptcy

Ask Our Tucson Chapter 13 Bankruptcy Lawyers

Knowing when to file chapter 13 bankruptcy is an important fact to know if you are considering filing for bankruptcy in Tucson, Arizona.  When choosing to file for bankruptcy in Tucson, there are 2 main chapters of bankruptcy that most people file.  They are chapter 7 bankruptcy and chapter 13 bankruptcy.

Chapter 13 bankruptcy is generally used if:
• You have a house in foreclosure that you want to keep
• Your income exceeds your expenses and does not allow you?to file for Chapter 7 Bankruptcy
• If you have some other large non-exempt assets that you would like to retain
** Chapter 13 bankruptcy: requires a repayment of part of your debts in a percentage that you propose to the Bankruptcy Court.

When drawing up your chapter 13 bankruptcy repayment plan, you and your attorney prepare a plan for repayment of your debts with monthly payments that you can afford.  Chapter 13 bankruptcy allows you to set up an affordable plan for repaying a portion of your debt to your creditors. The chapter 13 bankruptcy payment plan is customized to your unique situation. It is affordable because you pay your living expenses first, then any remaining income is divided among your creditors.

Chapter 13 bankruptcy repayment plans usually last between 3 and 5 years and repay creditors anywhere between 10% – 100% of what is owed for unsecured debt, such as credit cards, medical bills, etc.

Though you can file for chapter 13 bankruptcy without using an experienced chapter 13 bankruptcy lawyer, it is definitely not recommended.  Even a document preparation company will struggle mightily with a chapter 13 bankruptcy filing.  Seek the assistance of a knowledgeable bankruptcy attorney in Tucson, Arizona.

The chapter 13 bankruptcy plan must be approved by the Bankruptcy Court and place your unsecured creditors in at least as good of a position as they would be in a Chapter 7 Bankruptcy.

In some circumstances, a Chapter 13 can be used to strip a second mortgage from your home if the first mortgage exceeds the current value of your home.  Chapter 13 bankruptcy can also be a valuable assistance in pausing your student loan payments and in stopping the repossession of a vehicle.

Chapter 13 Bankruptcy Lawyers Tucson When to Choose Chapter 13 Bankruptcy

In order to determine if a Chapter 13 Bankruptcy is right for you, please contact My AZ lawyers, PLLC.  Our experienced Tucson bankruptcy lawyers will assist you in choosing the best chapter of bankruptcy for you to file and advise you as to all of your debt relief options.  We offer Free Consultations (Either in Office or by Phone — Your Choice!).  Contact our Tucson bankruptcy law office now!

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