Category Archives: Bankruptcy

Supreme Court Finds Inherited IRAs Are Not Protected In Bankruptcy

© 2014 Written by Arizona Bankruptcy Attorney Whitney Coats There have been split decisions in bankruptcy courts across the country on whether an inherited Individual Retirement Account (“IRA”), a retirement account inherited by someone other than a surviving spouse, is … Continue reading

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New Changes to Arizona’s Anti-Deficiency Statutes with Passing of HB 2018

Article By Arizona Bankruptcy Attorney Whitney G. Coats On April 22, 2014, the Arizona legislature passed HB 2018, which created some significant changes to the Arizona anti-deficiency statutes outlined in Arizona Revised Statute (“A.R.S.”) §33-729, which pertains to purchase money … Continue reading

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Bankruptcy: The Means Test Numbers Increased On April 1, 2014 – Do You Qualify to File A Chapter 7 Bankruptcy?

Article By: Whitney G. Coats, J.D., Scottsdale Bankruptcy Attorney © 2014 The Means Test is a calculable test devised to determine if an individual filing bankruptcy does not make enough income to pay their debts and therefore is a good … Continue reading

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Credit Reports: What type of effect will filing bankruptcy have on my credit score?

© 2014 Written by Scottsdale Bankruptcy Attorney Whitney G. Coats Your credit score will be affected negatively when filing bankruptcy, however, there’s no exact point deduction that your credit score will take.  If you have a higher credit score when … Continue reading

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Credit Reports: My credit report lists an old credit card debt as “Charged Off”…do I still have to pay this debt?

© 2014 Written by Scottsdale Bankruptcy Attorney Whitney G. Coats The short answer….YES.  If a creditor lists a debt as “Charged Off”, the debt has not vanished and must still be paid by you.  When a debt goes unpaid for … Continue reading

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Fair Debt Collection Practices Act: Crossing the Line – When Has A Debt Collector Gone Too Far?

© 2014 Article By: Whitney G. Coats, J.D.  The other day I was sitting in my office and received a phone call from a client of mine who was very shaken and upset about a disturbing phone call she had … Continue reading

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Bankruptcy: Can I file bankruptcy on a medical debt I owe to my doctor, even though I need to continue using that doctor for medical services?

© 2013 Article By: Whitney G. Coats, J.D. When you file bankruptcy, you must list all of your creditors, regardless of who the creditor is and regardless of how much you owe the creditor.  Under the law, all creditors must … Continue reading

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Bankruptcy: How does filing bankruptcy affect my Social Security Benefits income?

An individual who files bankruptcy is only allowed to have up to a certain dollar amount in their possession on the date of filing of their bankruptcy petition. All money in a filer’s possession must be reported, regardless of whether … Continue reading

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What Documents Do I Need When I File Bankruptcy?

 (c) 2013 A person must provide not only their bankruptcy attorney, but also their bankruptcy trustee, with a substantial amount of documentation when filing bankruptcy.  The bankruptcy trustee is the person appointed by the Federal government to review a filer’s … Continue reading

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Bankruptcy: “I just got served with a lawsuit! What do I do now???”

  Unfortunately, the title to this article is very much a reality.  I often have calls with people in a panic that they were just served a lawsuit for a credit card they had to stop making payments on the … Continue reading

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