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Another Bankruptcy Myth in Arizona

By Joseph McDaniel, Esq.

There is another bankruptcy myth in Arizona.

It gets a lot of circulation because Bankruptcy Mills spout this myth every chance they get, on television!

The myth is this: that it is incredibly easy to file a Bankruptcy in Arizona.

And that is simply nonsense. It's a perfectly good lie, I suppose, if you want to use a hard sell closing technique on potential debtor clients when they come in, and take away their driver's licenses and debit cards so they can't leave, but my personal take is that it's not a good thing to lie to potential or actual clients.

But maybe that's just me.

And holding their driver's license and debit card hostage so you can get 'em to sign a retainer agreement before you'll give 'em back? Puhleeeezzzze! That's just...wrong!

But if somebody does law firm comparisons before they go in, rather than after, they can save themselves that...exciting scenario.

Back on topic: the reason that a bankruptcy case in Arizona is not incredibly easy is very simple: you have to list your stuff, and your debts, and your transactions.

That alone makes it somewhat challenging.

But wait! There's more!

There's the Means Test, and the trustee letter, and materials to get to the trustee in your case, and then the First Meeting of Creditors, and maybe then, if you're just a little bit lucky, the Bankruptcy Discharge! But the case isn't over yet!!!

I talk about that in the bankruptcy homework blog, so if you just read that stuff (or watch the relevant videos) you'll see that it's not so easy to file a Chapter 7 Bankruptcy in Arizona.

But it can be done!

Full post as published by Arizona Bankruptcy Attorney Blog on January 31, 2011 (boomark / email).