by John Skiba, Esq. | Jan 27, 2012 | Chapter 7 Bankruptcy
One of the drawbacks to filing chapter 7 bankruptcy is that you may lose some of your stuff. Chapter 7 bankruptcy is a liquidating bankruptcy – meaning if you have assets that you own free and clear of any liens and that are not protected under one...
by John Skiba, Esq. | Jan 25, 2012 | Collection Law Suits
In previous articles I have gone over the litigation strategy of debt buying companies like Midland Funding, LVNV, LLC, and Portfolio Recovery. Despite the fact that they have filed a lawsuit against you, they really don’t want to fight you. Their hope is that...
by John Skiba, Esq. | Jan 24, 2012 | Chapter 7 Bankruptcy
When you file for bankruptcy here in Arizona your case will be assigned to a bankruptcy trustee. This person works under the Department of Justice and in a chapter 7 bankruptcy, their job is to review your bankruptcy documents, determine if there are any assets that...
by John Skiba, Esq. | Jan 17, 2012 | Chapter 7 Bankruptcy
Should you seek out God’s guidance before filing for bankruptcy? Rev. Billy Graham says yes in a recent article when the question of the morality of bankruptcy was posed to him. After I have explained the nuts and bolts of the bankruptcy process to people I...
by John Skiba, Esq. | Jan 16, 2012 | Chapter 7 Bankruptcy
Because you told me about it. That is my typical response when I have someone tell me about an asset they have and then ask me “how will the bankruptcy court ever know that I have this asset?”. During my bankruptcy consultations I always discuss with...
by John Skiba, Esq. | Jan 14, 2012 | Chapter 7 Bankruptcy
Earlier this week ESPN reported that NFL sports agent Leigh Steinberg filed for chapter 7 bankruptcy. Mr. Steinberg was the inspiration behind the movie Jerry McGuire and represented many high profile athletes including Steve Young, Troy Aikman, and Ben...
by John Skiba, Esq. | Jan 13, 2012 | Bankruptcy A to Z, Chapter 7 Bankruptcy
Garnishments are a pain. Maybe the only thing that pushes people into bankruptcy more quickly than garnishment is a foreclosure. In Arizona, a creditor can garnish up to 25% of each pay check. If you are living payday to payday this can completely devastate your...
by John Skiba, Esq. | Jan 11, 2012 | Collection Law Suits
I see it all the time. You get served with a lawsuit by one of the big debt buyers, Midland Funding, Portfolio Recovery, or LVNV Funding. You have no idea who “Midland Funding” even is, so you brush it off. Maybe they have the wrong guy. So you do...
by John Skiba, Esq. | Jan 10, 2012 | Chapter 7 Bankruptcy
Hostess, the company that makes the Twinkie, is preparing to file for chapter 11 bankruptcy for the second time in the last seven years. The purpose of a chapter 11 bankruptcy filing is to allow a company to restructure and emerge from bankruptcy leaner, healthier...
by John Skiba, Esq. | Jan 6, 2012 | Chapter 7 Bankruptcy, Collection Law Suits
Before the first week of 2012 is over I wanted to take a look back to 2011 and the numerous topics that have been discussed on my blog. I started this bankruptcy blog in May of 2011 when I ventured out and opened my own bankruptcy law firm. I enjoy blogging and have...
by John Skiba, Esq. | Jan 2, 2012 | Bankruptcy A to Z, Chapter 7 Bankruptcy
In the bankruptcy world (yes, there is such a place!) the term “fresh start” is mentioned so often that it can become cliche. However, when you can get past the initial feelings you may have about bankruptcy, the end result truly is a “fresh...
by John Skiba, Esq. | Dec 27, 2011 | Collection Law Suits, Debt Settlement
Most people that will read this article have had the unpleasant experience of receiving a knock at the door only to get served with a lawsuit. After the shock subsides as to what just happened, you look at the paperwork and you ask yourself the question: “who in the...
by John Skiba, Esq. | Dec 19, 2011 | Bankruptcy A to Z, Chapter 7 Bankruptcy
Equity. It is usually your friend. If you are in bankruptcy, it can be an issue. Simply put, equity is what you actually “own” in your property. For instance, if you have a car that is worth $10,000 and you still owe $6,000 on the loan, then you have...
by John Skiba, Esq. | Dec 12, 2011 | Chapter 7 Bankruptcy
Because I work as a bankruptcy attorney I have the opportunity to meet a lot of people here in Arizona who have taken a beating during this recession. And while the recession technically ended a while back, many, if not most are still going through some financial...
by John Skiba, Esq. | Dec 7, 2011 | Bankruptcy A to Z, Chapter 7 Bankruptcy
Debt free. Can you even imagine it? I would dare say that when most people come in to inquire about filing for bankruptcy they aren’t really thinking about the end result of being debt free, but are more focused on stopping the immediate pain of debt...
