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Arizona Bankruptcy Blog

Your Tax Refund Could Be Delayed! - By John G. Merna, Esq. Over 100 million taxpayers could see a delays in receiving their tax refund this February if tax cuts now being considered by Congress are too drastic. According to outgoing IRS chief, John Koskinen, cuts specifically to the now under funded IRS budget could have a catastrophic effect on tax payers, […]
Fear of Bankruptcy: Five Most Common - by John G. Merna Courage is resistance to fear, mastery of fear, not absence of fear. ~ Mark Twain   Anyone who does not have some hesitation about wandering into the unknown, even if it is the legal unknown, is a fool. As Mark Twain implies, even the hero experiences fear. To be the hero […]
Baby Boomers & Bankruptcy: Make Your Retirement Better. - by John G. Merna A Lack of Retirement Savings Forces Many to Take Action With over 75 million baby boomers in or approaching retirement, the disappearance of corporate retirement, failure of 401(k) plans to deliver great returns, and the recent Great Recession have left most unprepared to afford retirement. Baby boomers have acquired more debt […]
6 Things You Shouldn’t Do With Your Tax Refund Before Filing Bankruptcy - by John G. Merna The most difficult problems created by a client anticipating filing bankruptcy are generally created before they consult an attorney or undertaken without advising an attorney. 1) Don’t Hide Money Most people don’t understand or intend to break the law.  But hiding money in bankruptcy, or more accurately “not disclosing” money, is […]
February Is “Fresh Start” Month! -   by John G. Merna February is fresh start month. Why you might ask? Most people live paycheck to paycheck to. And the question on most people’s mind is almost constantly how do I get ahead financially? If you are plagued with bad credit or unpaid debt this question is even more perplexing. February is […]
IRS To Delay Some Tax Refunds! - John G. Merna Tax filers who anticipate claiming Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) can anticipate their refund being held up until the end of February. The IRS announced that they will be implementing a more strenuous review to detect tax credit fraud and the additional delay will provide the […]
Is Your Tax Refund Safe From Garnishment? - by John G. Merna Tax time can be exciting if you anticipate receiving a tax refund. For some, the anticipation can turn to anxiety if they are significantly behind on paying their debt. There are two ways a creditor can intercept your tax refund. The first is by getting it from the Internal Revenue Service […]
What To Do If You Are Being Garnished In Arizona. - By Admin It is an awful feeling when you look at your pay stub and realize that your take home pay is drastically less then usual due to a garnishment. You rush to your phone or computer to verify the amount deposited in your bank account in hope that it is an error.  Instead the […]
If I File Bankruptcy Does My Spouse Have To File Also? - by Admin Nowhere in the Bankruptcy Code does it state that if one spouse files a bankruptcy, that the other must do so also. In many instances, it may be to the couple’s benefit to file together if both are struggling with debt or there is joint debt, but it is not mandatory. So, how […]
Arizona Bankruptcy Filing And The Means Test - by John G. Merna When it comes to filing bankruptcy, whether you prefer a Chapter 7 or a Chapter 13, your monthly income can determine what options you qualify for. To be eligible for a Chapter 7, which eliminates your unsecured debt, your income must be under a certain amount to be eligible. If you […]