The Pine Canyon luxury 18-hole golf course and housing development, located in Flagstaff, Arizona, was recently forced to file for chapter 11 bankruptcy protection when it could not come to an agreement with its largest creditor. Johnson Bank had refinanced various acquisition and development loans for the company in 2008, and earlier this year demanded that Pine... View Post
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Tag Archive: Arizona Bankruptcy Attorney
What is the Difference between Credit Reporting Limits and the Statute of Limitations on Debt in Arizona?
When you get into financial trouble with creditors, it can be very confusing trying to sort out all the many terms that get thrown around as you try to get back on your feet. One area where many debtors get confused is the difference between how long a negative item can appear on their credit report... View Post
What You Need to Know When Filing for Bankruptcy Protection in Arizona
Bankruptcy protection is a powerful tool that can provide a fresh start for people from all walks of life and all states in the union. Like residents of other states, Arizona residents do have some special considerations when filing for bankruptcy. These include: Arizona Means Test: Before filing for bankruptcy in Arizona, you must measure your income against... View Post
Can an Overdue Library Book Ruin Your Credit?
While it may sound a little alarming, some Arizona residents may soon find an unpaid parking ticket or overdue library book ruining their credit scores. Most of us are used to the idea that on overdue credit card bill or neglected student loan can ding our credit scores, but a growing number of agencies across the... View Post
In Bankruptcy, Arizona-based Bashas’ Finds a Wealth of Community Support
Like a lot of other Arizonans, I’ve been following the Chapter 11 Bankruptcy of Bashas’ supermarkets as it has unfolded over the last several months. As an Arizona icon and one of the state’s largest employers, the fate of Bashas’ is of interest to many Arizonans. What I have been most impressed with is the excellent example Bashas’ has... View Post
Were Arizona Home Equity Loans “Free Money?”
In what may be one of the biggest ironies of the recession, financial experts are now saying that the more money Arizonans borrowed on their homes during the housing boom, the less likely they will be to have to pay any of the money back – that is if they file for bankruptcy protection and... View Post
Is Arizona Debt Counseling Effective When People Just Can’t Pay?
One of the most highly-touted changes to the bankruptcy laws in 2005 was the addition of a credit counseling requirement. Anyone wishing to declare bankruptcy must first undergo credit counseling by a certified counseling agency. But consumer advocates are saying that the counseling requirement is just a meaningless hurdle when most client simply don’t have the... View Post
Credit Card Issuers Still Writing Off Debt Despite Tougher Bankruptcy Laws
Credit card issuers fought hard – and spent a lot of money – to get congress to change consumer bankruptcy laws back in 2005, effectively making it much harder to declare bankruptcy. The legislation has not had the desired effect. As the economy continues to stumble, the extra roadblocks to bankruptcy protection are not stopping people... View Post
Consumer Advocacy Group Works to Block Businesses from Using Credit Checks to Screen Employees
As the economy gets tighter, an increasing number of employers are using credit checks to screen potential employees. “Not fair!” says consumer advocacy group Unite Here – and we here at The Pew Law Center, PLLC have to agree. So far, Unite Here has been successful in getting three states to pass laws that limit an... View Post
Phoenix, Arizona Bankruptcies in Decline
Despite the fact that Arizona has been particularly hard hit with the recession and a struggling housing market, Phoenix actually reported a drop in bankruptcies in July– making it the fourth month in a row that filings dropped. Four in five Valley bankruptcies in Arizona are Chapter 7, with the majority of the remainder being... View Post