During these tough economic times, many people are facing the prospect of home foreclosure.  When this occurs, these people face a number of option. 

They could borrow money from relatives, take out new debt at lower interest rates, or borrow money from relatives. While these options may act as a short-term fix, another option is filing for bankruptcy. 

Once an individual or family files for bankruptcy, the court will likely issue an automatic stay. This provision will typically postpone the foreclosure and give bankruptcy filers time to prevent the foreclosure. 

The exact ramifications for preventing foreclosure generally depend on the type of bankruptcy filing. If you or anyone you know is facing the threat of foreclosure, contact the Arizona bankruptcy lawyers of the Harmon Law Office at 480-829-0494.

When business owners file for bankruptcy, their business assets will typically be protected. This is especially true if the filer is a limited partner in a partnership or a shareholder in a corporation.

However, if the business owner is a sole proprietor or a general partner in a partnership, they may not receive as much protection. The extent of protection varies from state to state, with certain limits on the dollar amount of business assets that may be protected. 

If you or anyone you know is considering filing for personal bankruptcy, contact the Arizona personal bankruptcy lawyers of the Harmon Law Office at 480-829-0494.

When people file for bankruptcy, they often worry about whether a bankruptcy court can take away the benefits of their insurance policy. In most cases, people filing for bankruptcy are allowed to continue their insurance policies.

These insurance policies are often not able to be used for debt obligations because they are based on contingencies outside of debt. However, if the insurance policy is meant to cover debts, then it could be used during a bankruptcy process to cover certain debt obligations. 

If you or anyone you know has questions about his or her bankruptcy filing, contact the Arizona personal bankruptcy lawyers of the Harmon Law Office at 480-829-0494. 

When two people get married, they make a number of decisions regarding their finances. In many cases, people will choose to file joint tax returns and take other steps to combine their finances. 

These steps can often have an impact on bankruptcy filings. When a married couple files for bankruptcy, some assets may be considered joint assets, while others may be considered as a separate asset of either spouse. 

If you and your spouse are considering filing for bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office at 480-829-0494. 

NutraCea filed for Chapter 11 bankruptcy Tuesday. According to a company statement, the bankruptcy filing will allow the company the company to restructure, sell non-core assets, and reduce overhead. 

The company processes and converts rice bran and operates in four states. It listed total assets of $83.7 million and total debt of $18.9 million. 

If you or anyone you know is considering filing for Chapter 11 bankruptcy, contact the Arizona bankruptcy attorneys of the Harmon Law Office at 408-829-0494. 

After bankruptcy, people are often eager to rebuild their credit. One way is to obtain new credit cards and pay off the balances on time. 

As the credit card balances are paid, the individual's credit score will steadily rise. Many people, however, believe they will have trouble obtaining a new credit card because banks will not lend to them.

Generally, this is not true because most banks recognize that former bankruptcy filers cannot file for bankruptcy again for eight years. For this reason, they cannot get rid of their debts in the short term with another bankruptcy filing. 

If you or anyone you know is considering filing for bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office at 480-829-0494.