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Military Clearance and Bankruptcy

Military Clearance and Bankruptcy

A common question concerning bankruptcy is how it may affect active duty military or government workers, or employees of defense contractors.  Many have security clearance, which is a mandatory portion of their employment.  The guidelines can be found under Department of Defense Directive 5220.6, which covers issues related to security clearance, including financial concerns. E2.A6.1.1. Read More

Tax Refunds and Bankruptcy

In Arizona, when you file a Chapter 7 bankruptcy, you could lose certain property or interests you own that are non-exempt.  Exemptions, or things you can keep, are set primarily by Arizona Statute (A.R.S. §§33-1123 to 1126).  One item that Arizona does not exempt is any tax refund that you are owed at the time Read More

Dealing with Non-Exempt Assets

If you are presently on the title to, or have an ownership interest in a non-exempt asset, you can sometimes plan for a bankruptcy by turning non-exempt assets into exempt ones.  However, this area is fraught with potential issues, so you should consult an attorney before buying or selling anything if you are considering bankruptcy. Read More

Bankruptcy Blog

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