Bankruptcy

Some People Who File Bankruptcy in Arizona have High-Milage Cars. And Need a Laugh.

By Joseph McDaniel, Esq.

So maybe you have a high-mileage car that works well, and if it's worth less than $5,000, it will be exempt in Arizona in your bankruptcy. Or $10,000, if you're crippled. Or you may buy a car after you file your bankruptcy in Arizona, for cash, because then you don't have to make a monthly payment, and that's a good thing.

On the other hand, if you're contemplating a bankruptcy filing in Arizona, whether a Chapter 7, a Chapter 13, or even a personal Chapter 11, you may not feel perky.

Most folks thinking about bankruptcy do not feel perky, you know? Whether they're in Arizona, or elsewhere! At least not in my personal experience as an Arizona bankruptcy lawyer.

And therefore, before you ask me whether I get a kickback from Castrol, the author of this automobile oil commercial, the answer is no.

But I did get a kick out of the gag, and it had some truth to it; there's a lot to be said for a car that's paid for. And a car you buy for cash after your bankruptcy filing in Arizona will help you save money after your bk.

So if you're thinking about a bankruptcy option in Arizona, and you need a laugh, here!

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on August 02, 2010 (boomark / email).