Ariano & Reppucci, PLLC

How filing for bankruptcy could save your home from foreclosure In 2009 and 2010, Arizona had the second highest rates of foreclosure in the country, with more than 300,000 foreclosures over those two years. Being buried in debt is difficult, but receiving the notice of foreclosure might feel like the nail in the coffin. However, [...]

How often you can file bankruptcy depends on whether you have filed Chapter 7 or Chapter 13 bankruptcy, the date of your previous bankruptcy filing, and when you received a discharge or dismissal. Technically there is no limit to the number of times you can file bankruptcy.  However, most people file bankruptcy in order to [...]

The answer to this question depends on whether you are filing Chapter 7 or Chapter 13 bankruptcy. In Chapter 7 bankruptcy, if the rental property has equity, meaning that the value of the property exceeds what is owed on the property, the trustee would almost definitely seize property and sell it to satisfy some or [...]

During the initial consultation I often hear clients say, “I want to keep one of my credit cards out of my bankruptcy.”  Unfortunately there is a common misconception that you are allowed to pick and choose what debts are included in your bankruptcy.  Furthermore, if you have a credit card with a balance, failure to [...]

Sometimes in Chapter 7 bankruptcy your property can be taken and sold to satisfy your debts.  When I explain to clients that they could potentially lose their property in bankruptcy, the most common response is, “I’ll just transfer my car out of my name to my relative.” Please do not transfer property to a relative, [...]

Normally when you file for Chapter 7 Bankruptcy you have to pass what is called the Means Test. When you do not pass the Means Test, typically due to excessive income, the U.S. Trustee under section 707(b) may move to dismiss or convert your case for abuse of Chapter 7.  However, if your debt is [...]

When you file for either Chapter 7 or Chapter 13 bankruptcy the “automatic stay” prevents any creditor from doing anything to enforce a claim against a debtor during the bankruptcy case.  The automatic stay stops any lawsuit filed against you by a creditor, collection agency, or other government entity.  There are many benefits to the [...]

If you have a secured debt such as a car loan or mortgage, you may have had a family member or friend co-sign for the loan.  What does this mean?  When an individual co-signs for a debt, that person is equally responsible for that debt.  Therefore, if you default on the loan, the creditor will [...]

A lot of people get the motivation to file bankruptcy after they have been served with a lawsuit.  There are many different types of civil lawsuits for which this article will focus on a typical civil lawsuit regarding failure to pay on a debt.  I get a lot of phone calls from distressed clients wondering [...]

I am often asked the question of whether tax debts are dischargeable in Chapter 7 bankruptcy?  Most clients are surprised to find out that they are, as long as they meet certain criteria.  Essentially, your tax debt will be discharged in Chapter 7 bankruptcy if the following conditions are met: 1.  The due date for [...]