Bankruptcy law is filled with many nuances that can trip up debtors if they are not careful – or if they don't have an experienced Arizona bankruptcy attorney. Unfortunately, the turbulent economy has sent Arizona bankruptcy filings to an all-time high – attracting attorneys from other fields to start "specializing" in Arizona bankruptcy. But bankruptcy is a highly specialized field of law, where experience makes a huge difference to the outcome for the debtor.
Your Arizona family law and divorce lawyer should let you know that agreements made about debt payments during divorce proceeding are not legally binding on creditors. So, for example, if a husband pledges to finish paying off the couple's credit cards and later files for bankruptcy, the card issuer can still go after the wife – even years after the divorce is final.
This is especially tricky. Unpaid HOA fees accrued prior to filing bankruptcy may be discharged, but any fees incurred after bankruptcy but before the bank takes possession of the home are still the responsibility of the homeowner. And banks have been known to delay foreclosure proceedings in order to avoid paying HOA fees.
The bankruptcy boom has encouraged Chapter 7 trustees to be extremely aggressive in collecting money from debtor assets. If the trustee can find fault in the mortgage or car loan paperwork – or the lien-holder fails to produce the paperwork altogether – that may throw a monkey wrench into the debtors plans to keep his home or car.
To deal with complex issues like these, you need an experienced bankruptcy attorney who knows the ins and outs of the law.
If you're in need, we're here for you. Get help today.