Credit Report Experts

Recent reports indicate that the number of Arizonans who filed for bankruptcy (Chapter 7 bankruptcy, Chapter 13 bankruptcy, etc.) fell in April, continuing an overall decline for the first quarter of 2012.

According to The Arizona Republic, there were approximately 1,999 bankruptcy filings in the Phoenix-area during April 2012 as compared with 2,748 bankruptcy filings in April 2011, a 27 percent decline. In addition, bankruptcy filings for April 2012 were four percent lower than for March 2012.

Regarding the entire state, there were approximately 25 percent fewer bankruptcy filings in Arizona during April 2012 as compared with April 2011, and 3 percent fewer bankruptcy filings in April 2012 as compared with March 2012.

(Chapter 7 filings were found to comprise 87 percent of April’s bankruptcy filings here in the Phoenix metro area.)

Experts believe that the primary reasons for the relatively steady decline in bankruptcies across Arizona — filings have declined for 15 straight months on a year-over-year basis — are an improving economy, lower unemployment rate, greater extension of loans by lenders and a continued focus on cutting costs.

“Families and business continue to cut costs to improve their financial stability,” said Samuel J.

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Vincent Howard and our Rubidoux consumer bankruptcy lawyers were interested to see a case with an unusual homestead exemption at issue. In In re Jefferies, the Bankruptcy Appellate Panel of the Ninth U.S. Circuit Court of Appeals ruled that Jack Jefferies may not exempt money received from his former homestead under Washington’s homestead exemption. Jefferies received a final divorce decree in December of 2010, and the court order awarded him an “equalizing judgment” of $40,800 in exchange for his interest in the marital home, which was retained by his former wife. His Chapter 7 trustee objected to his attempt to exempt this money under the homestead exemption, and the bankruptcy court for Western Washington sided with the trustee. On appeal, the BAP of the Ninth Circuit affirmed.

Jefferies moved out of the marital home in 2009 and was granted a divorce in December of 2010. In his March 2011 bankruptcy petition, he claimed $47,000 as “proceeds of sale of homestead” under Washington state bankruptcy exemptions, saying the equalizing judgment constituted sale proceeds.

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International money transfer services are essential for individuals or businesses. If your business is distributed in the different countries of the world, then you have many employees and business partners overseas. To pay, you must choose the services of money transfer reliable and effective. People go for a vacation in a foreign country or for a business visit and always need money transfer services abroad. Also Caxtons can be used when you buy property abroad, send money to a friend or relative, buy goods abroad and pay bills or mortgages abroad.

There are the different ways to transfer money abroad on the today’s market. You can transfer money using bank specializing in international transactions, a company or a transfer agent. With several available options, you should choose the best way to exchange foreign currency and the best exchange rate. This exchange rate will determine the actual amount to be transferred. In addition, you should not pay the service charges for the service of transferring money abroad. Banks charge up to $ 25-35. When you need to send money abroad every month paying the mortgage, you end up paying 300-400 every year. T Full Post…

Consumers trying to build credit for the first time often discover that few creditors are willing to take a risk on someone who lacks a credit history proving that he can successfully manage debt. Fortunately, you can build a credit profile without qualifying for a credit card or loan of your own by asking a loved one to add you as an authorized user to her credit card account. The credit card company then reports the card and its payment history on your credit report — helping you establish a credit rating. Authorized user accounts are subject to the same reporting periods as standard credit card accounts.

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In previous posts, we discussed how Yavapai Downs racetrack — a popular Arizona destination for both gamblers and equine enthusiasts — filed for Chapter 7 bankruptcy, citing both declining attendance and revenue.

Located in Prescott Valley and owned by Yavapai County Farm & Agriculture Association, Yavapai Downs filed for Chapter 7 liquidation in July 2011, listing $15.4 million in liabilities and $24 million in assets.

These assets consist primarily of the Yavapai Downs facilities, which include 300 acres of land, a grandstand measuring four-stories in height, a mile-long racetrack and stabling facilities for over 1,100 horses.

They also consist of the Prescott Valley Raceway (located adjacent to Yavapai Downs), the Yavapai County Fairgrounds (comprised of eight separate parcels of land 125 acres in total size), and millions of dollars in equipment.

In recent developments, the presiding bankruptcy judge who ordered the sale of all Yavapai Downs assets has set the auction date for next Tuesday.

While the auction was scheduled to take place toward the end of April, the bankruptcy trustee successfully petitioned the court to expedite the sale.

According to experts, the decision to push the sale date forward more than likely has to do with the impending start of the racing season.

Specifically, the longer Yavapai Downs sits idle, the greater the likelihood that owners, trainers and jockeys will leave Arizona looking for competition.

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