I'm in Arizona and I don't know where to start.... A few questions that come to mind are; 1) What debt ratio is allowed with a Chapter 7 in the end?, 2)Can I keep my house? (I think this depends on questions #1), 3)Can I discharge outstanding utility bills to city municipalities or IRS debt that I'm making payments on?, 4)I have a 401K account with a little money in it that I can't get out yet. How is this handled in a Chapter 7?, 5)Do they count unemployment insurance payments as income in the last six months? Any advice would be appreciated. Wish I didn't have to do this, but don't think I have a choice.
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Don't think those utility bills are going away , Irs Debt probably not going away but you could negotiate with them to reduce, you can get a list of the Arizona Exemptions here http://www.azb.uscourts.gov/Document...exemptions.pdf -
There is no debt ratio in bankruptcy. Not sure what you're driving at here.
You can keep your house as long as you can stay current on the mortgage.
Yes, utility bills can be discharged and in some circumstances, so can back income taxes.
401K's are exempt assets in bk.Comment
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