Chapter 9: This applies only to cities or towns. It protects municipalities from creditors while the city develops a plan for handling its debts. This typically happens when industries close and people leave to find work elsewhere. There were 20 Chapter 9 filings in 2012, the most since 1980. Detroit was among those filing in 2012, and is the largest city ever to file Chapter 9. Detroit’s GDP shrunk by 12.2% in the 10 years prior to declaring bankruptcy. The average major metro growth in that time was 13.1%.


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Some examples of this are when a Korean state bankrupted Imperial China causing its destruction, or more specifically, when Chang'an's (Sui Dynasty) war with Pyongyang (Goguryeo) in 614 A.D. ended in the former's disintegration within 4 years, although the latter also seemingly entered into decline and fell some 56 years later.[59] Another example is when the United States, with heavy financial backing from its allies (creditors), bankrupted the Soviet Union which led to the latter's demise.[60]
After meeting with a bankruptcy lawyer, you can expect to feel a great sense of relief (it’s wonderful knowing that a solution is in sight) and want to get the process started. Many people who don’t have the funds turn to friends and family—and sometimes even employers—and find most understanding when it comes to a request for help with bankruptcy fees. It’s likely because it’s cheaper to help someone fix a financial problem once and for all, rather than to help out on an ongoing basis.
Bankruptcy statistics are also a trailing indicator. There is a time delay between financial difficulties and bankruptcy. In most cases, several months or even years pass between the financial problems and the start of bankruptcy proceedings. Legal, tax, and cultural issues may further distort bankruptcy figures, especially when comparing on an international basis. Two examples:

If a person commits an act of bankruptcy, then a creditor can apply to the Federal Circuit Court or the Federal Court for a sequestration order.[19] Acts of bankruptcy are defined in the legislation, and include the failure to comply with a bankruptcy notice.[20] A bankruptcy notice can be issued where, among other cases, a person fails to pay a judgment debt.[21] A person can also seek to have themself declared bankrupt by lodging a debtor's petition with the "Official Receiver",[22] which is the Australian Financial Security Authority (AFSA).[23]


Another type of cheap bankruptcy is to use a “document preparation” company. Using a “document preparation” company to file bankruptcy may actually be worse than filing alone. California bankruptcy attorneys in Burbank are regulated by the State Bar of California. A “document preparation” company regulates itself. We have seen clients that have experienced unimaginable nightmares with “document preparation” companies. It’s not uncommon for these companies to have no knowledge of bankruptcy law, perform shoddy work and charge their clients relentless hidden fees. And you may be surprised to learn that “document preparation” companies are forbidden from giving legal advice. If you cannot get legal advice on your bankruptcy, what is the point of paying someone to do it?
If you feel stressed and overwhelmed at the prospect of filing for Chapter 7 or Chapter 13 bankruptcy, let our Avondale, Arizona office help you through the process of declaring bankruptcy in Avondale, Arizona. Get the help of our Avondale law office today.  Our Avondale bankruptcy lawyers have several options to offer clients who are in need of debt relief and considering declaring bankruptcy in Arizona. If you are in need of a low cost bankruptcy lawyer contact the My Arizona Lawyers today. 
Clients who typically choose this type of debt relief have fallen behind on their mortgage, car payments, income taxes or other obligations. Or they may not qualify for Chapter 7 relief. They want to keep their property, but need additional time to catch up. Chapter 13 provides a means of paying tax and other non-dischargeable debt over time, often without interest or penalties.
The affordable Arizona bankruptcy attorneys and debt relief specialists work with our clients to better educate them on their case to ensure they know we are right there with them. We will guide you every step of the way while filing chapter 13 or chapter 7 bankruptcy.  We take pride in making sure our clients are prepared for ‘Life After Bankruptcy’.

In Spain, it is not economically profitable to open insolvency/bankruptcy proceedings against certain types of businesses, and therefore the number of insolvencies is quite low. For comparison: In France, more than 40,000 insolvency proceedings were opened in 2004, but under 600 were opened in Spain. At the same time the average bad debt write-off rate in France was 1.3% compared to Spain with 2.6%.
Debt consolidation may or may not be a good idea, depending on your situation. Lower interest is a good thing, but turning unsecured debts (like credit card bills) into secured debts (like a home equity loan) can be a costly mistake if you eventually file bankruptcy anyway. Unsecured debts can often be eliminated in bankruptcy, while most secured debts cannot. If you can't pay your secured debt -- or if the payments are late -- you may lose your home.
While bankruptcy cases are always filed in United States Bankruptcy Court (an adjunct to the U.S. District Courts), bankruptcy cases, particularly with respect to the validity of claims and exemptions, are often dependent upon State law.[35] A Bankruptcy Exemption defines the property a debtor may retain and preserve through bankruptcy. Certain real and personal property can be exempted on "Schedule C"[36] of a debtor's bankruptcy forms, and effectively be taken outside the debtor's bankruptcy estate. Bankruptcy exemptions are available only to individuals filing bankruptcy.[37]
The thinking behind this is that the bankruptcy code was set up to give people a second chance, not to punish them. If some combination of mortgage debt, credit card debt, medical bills and student loans has devastated you financially and you don’t see that picture changing, bankruptcy might be the best answer. If you don't qualify for bankruptcy, there is still hope.
Bankruptcy is the legal proceeding involving a person or business that is unable to repay outstanding debts. The bankruptcy process begins with a petition filed by the debtor, which is most common, or on behalf of creditors, which is less common. All of the debtor's assets are measured and evaluated, and the assets may be used to repay a portion of outstanding debt.
Our Glendale, Arizona debt relief experts offer free consultations.  Call us today and find out what types of debt relief are available to you and your family.  Let our low priced bankruptcy lawyers in Glendale explain the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy.  Our Glendale and Avondale bankruptcy offices offer some of the lowest legal fees on all of our bankruptcy filings.  Compare our rates, we know our bankruptcy fees are the lowest!  Find Arizona’s best bankruptcy lawyers.
Chapter 13 means the court approves a plan for you to repay some or all of your debts over three to five years. You get to keep your assets (stuff you own) and you’re given time to bring your mortgage up to date. You agree to a monthly payment plan and must follow a strict budget monitored by the court. This kind of bankruptcy stays on your credit report for seven years.
A good way to approach the decision of whether to hire a lawyer is to buy (and read) Nolo's book How to File for Chapter 7 Bankruptcy. It will give you a good idea of what issues may arise when you file, and flags specific situations when a lawyer's help is called for. It will also give you a good idea of whether the filing process seems to complicated for you.
And gossip columns never tire of dishing on the latest celebrity inches from bankruptcy whether it's Gary Coleman or Mike Tyson having to part with his pet tigers. You might even fear that you're a few steps from going under. After all, we live in an economy in which credit card offers clutter our mailboxes. And living in debt is an accepted norm. But, just how can you tell when it's time to throw in the towel and declare bankruptcy?
A bankruptcy attorney can help you manage personal or business debts you are unable to pay. Bankruptcy laws allow people and businesses to (1) get a “fresh start” by relieving most debts; and (2) repay the money owed to all creditors as fairly as possible. When you file for bankruptcy protection, all other legal actions against you are put on hold. Creditors cannot sue you, garnish your wages, repossess your car or home entertainment system, or start or continue with a foreclosure action against your home. There are different types of bankruptcy filings and each has its own advantages. Since bankruptcy can significantly impact your future purchasing power and credit rating, you should see a bankruptcy attorney to make sure the benefits of filling bankruptcy outweigh the consequences.
If you're trying to figure out if you should file, your credit is probably already damaged. A Chapter 7 filing will stay on your credit report for ten years, while a Chapter 13 will remain there for seven. Any creditors you solicit for debt (a loan, credit card, line of credit, or mortgage) will see the discharge on your report, which will prevent you from getting any credit.
The formal bankruptcy process is rarely carried out for individuals.[30] Creditors can claim money through the Enforcement Administration anyway, and creditors do not usually benefit from the bankruptcy of individuals because there are costs of a bankruptcy manager which has priority. Unpaid debts remain after bankruptcy for individuals. People who are deeply in debt can obtain a debt arrangement procedure (Swedish: skuldsanering). On application, they obtain a payment plan under which they pay as much as they can for five years, and then all remaining debts are cancelled. Debts that derive from a ban on business operations (issued by court, commonly for tax fraud or fraudulent business practices) or owed to a crime victim as compensation for damages, are exempted from this—and, as before this process was introduced in 2006, remain lifelong.[31] Debts that have not been claimed during a 3-10 year period are cancelled. Often crime victims stop their claims after a few years since criminals often do not have job incomes and might be hard to locate, while banks make sure their claims are not cancelled. The most common reasons for personal insolvency in Sweden are illness, unemployment, divorce or company bankruptcy.
Bankruptcy in the United Kingdom (in a strict legal sense) relates only to individuals (including sole proprietors) and partnerships. Companies and other corporations enter into differently named legal insolvency procedures: liquidation and administration (administration order and administrative receivership). However, the term 'bankruptcy' is often used when referring to companies in the media and in general conversation. Bankruptcy in Scotland is referred to as sequestration. To apply for bankruptcy in Scotland, an individual must have more than £1,500 of debt.

In 2011, the Superintendent of bankruptcy reported that trustees in Canada filed 127,774 insolvent estates. Consumer estates were the vast majority, with 122 999 estates.[26] The consumer portion of the 2011 volume is divided into 77,993 bankruptcies and 45,006 consumer proposals. This represented a reduction of 8.9% from 2010. Commercial estates filed by Canadian trustees in 2011 4,775 estates, 3,643 bankruptcies and 1,132 Division 1 proposals.[27] This represents a reduction of 8.6% over 2010. 

Bankruptcy can be one of the best and only ways to wipe away debt that is impossible to pay off. While bankruptcy can be a solution to many people's debt problems, the filing of bankruptcy can be very confusing and frustrating to those that have never dealt with it before. If you are like many bankruptcy filers, you probably don't have the money to pay an attorney to do this for you. If you fall into this category, there is no need to fear as Affordable Documents is here to offer you a friendly, easy, and fast experience when it comes to filing for bankruptcy.
YP - The Real Yellow PagesSM - helps you find the right local businesses to meet your specific needs. Search results are sorted by a combination of factors to give you a set of choices in response to your search criteria. These factors are similar to those you might use to determine which business to select from a local Yellow Pages directory, including proximity to where you are searching, expertise in the specific services or products you need, and comprehensive business information to help evaluate a business's suitability for you. “Preferred” listings, or those with featured website buttons, indicate YP advertisers who directly provide information about their businesses to help consumers make more informed buying decisions. YP advertisers receive higher placement in the default ordering of search results and may appear in sponsored listings on the top, side, or bottom of the search results page.
If you're trying to figure out if you should file, your credit is probably already damaged. A Chapter 7 filing will stay on your credit report for ten years, while a Chapter 13 will remain there for seven. Any creditors you solicit for debt (a loan, credit card, line of credit, or mortgage) will see the discharge on your report, which will prevent you from getting any credit.
Individuals who make too much money to qualify for Chapter 7 bankruptcy may file under Chapter 13, also known as a wage earner's plan. The chapter allows individuals and businesses with consistent income to create workable debt repayment plans. The repayment plans are commonly in installments over the course of a three- to five-year period. In exchange for repaying their creditors, the courts allow these debtors to keep all of their property including nonexempt property.
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