17235 N. 75th Ave. #E-100
Glendale, AZ 85308
9590 E. Ironwood Sq. Dr., Suite 105
Scottsdale, AZ 85258
1830 S. Alma School Road, Suite 104
Mesa, Arizona 85210
1. Despite the new laws established in 2005, most people still qualify for a Chapter 7 bankruptcy under the new income test known as the Means Test.
2. Although most taxes cannot be wiped out in bankruptcy, many times they can be, either in a Chapter 7 or Chapter 13. Don’t assume your taxes cannot be included in a bankruptcy.
3. Most Chapter 7 cases are no asset cases and you will not have to give up property.
4. Never listen to friends or relatives about what you should do before filing bankruptcy. In most cases listening to friends or relatives will make your case messy at best.
5. DO NOT liquidate your retirement account in the hopes of avoiding a bankruptcy. Most retirement accounts are protected and most people end up filing bankruptcy after having depleted their retirement. Consult with an attorney before doing anything.