Bornmann Law Group, PLLC

by Max Gunderson

The new Bankruptcy Law of 2005 changed many of the Arizona bankruptcy laws.  One of the most significant provisions of the new bankruptcy law of 2005 is the introduction of a “means test.” So what is the means test? The means test is used to determine whether or not a person is eligible to file for a Chapter 7 bankruptcy. Under the new bankruptcy law, as of October 17, 2005, bankruptcy applicants who wish to file for Chapter 7 bankruptcy protection must meet certain eligibility requirements under a designed ”means test.” Once you decide that you are going to file for bankruptcy, you must take the means test and submit the results of the means test to the Bankruptcy Court. Read the rest of this entry…

by Max Gunderson

While it may be fair to say that many people in Arizona don’t even know their credit score, they really should pay attention to their credit score as it impacts every major financial decision you make.  This fact puts to rest the saying “What you don’t know can’t hurt you.”  Not knowing your credit score or letting your credit score slip can make your financial life quite complicated. Read the rest of this entry…

By Max Gunderson

What is a “Joint Petition” for Bankruptcy? A joint petition in bankruptcy is the filing of one single bankruptcy petition by an individual and his or her spouse.  In Arizona, an individual will only be able to file a joint petition if they are legally married on the date that they file their Chapter 13 or Chapter 7 bankruptcy case.  A benefit of a “joint petition” is that the couple will only have to pay only one filing fee, not two. Read the rest of this entry…

by Max Gunderson

Once your vehicle has been repossessed, the collateral (your vehicle) is taken to a storage lot or auction house, where it’s stored for a period of time. The repossessed collateral must be sold in a commercially reasonable manner. You will be given reasonable notice of the date, time, and place of the sale. If you do not redeem the collateral by paying the full amount of the debt, plus all expenses of the repossession, the collateral will be sold by auction. The proceeds from the auction will be used to adjust your the amount that you still owe on the vehicle. Read the rest of this entry…

by Max Gunderson

Getting a new car, truck, boat, or recreational vehicle is fun.  There is an excitement that you feel as you have a new “toy” to play with.  However, you need to remember when you decide to finance or lease a car, truck, or other vehicle that your creditor or lessor holds important rights on the vehicle until you’ve made the last loan payment or fully paid off your leasing obligation. These creditor rights are established by the contract that you signed when financing the vehicle and through Arizona state law. Read the rest of this entry…

by Max Gunderson

Bankruptcy can give you a fresh start by erasing much of your debt (under a Chapter 7 liquidation) or by giving you the breathing room to pay off your debts over five years (under a Chapter 13 repayment plan).  However, bankruptcy is not always the best solution for every person or every situation. Read the rest of this entry…

Low-cost bankruptcy can be an essential component to getting your finances under control. There are cheap bankruptcy lawyers and attorneys available in Tucson and Phoenix, Arizona. Most people file bankruptcy because the money situation has gotten out of hand. When facing bankruptcy, the last thing you want to do is spend your last dollar on the process of filing for bankruptcy. The good news is there are ways to find affordable bankruptcy solutions that will help ease your financial pains. Read the rest of this entry…

by Max Gunderson

There are many ways that you can file for bankruptcy without it costing you as much money as you may expect.  One of the ways is to file your own bankruptcy.  If you are thinking about attempting to do a pro se bankruptcy (bankruptcy without an attorney) in Phoenix or Tucson, Arizona, it can prove not only to be extremely frustrating and confusing, it can also have a dramatic impact on your financial future. Read the rest of this entry…