There is so much mis-information about bankruptcy and how it works, or does not work. Know your options before making any decision to file or not to file bankruptcy or participate in a “debt workout scheme”.
Below is a YouTube video presented by John Oliver, who does a fairly decent job describing the challenges with filing bankruptcy, including the history of our current bankruptcy laws.
Please excuse the occasional foul language or crude comments. The substance is worth the viewing.
MUSINGS BY DIANE:
Educate yourself and never assume that”cheap” really means cheap. It means that you will pay later. It may mean your cheap attorney treats you like a cash register. They don’t take the time to educate you or fully inform you about the serious issues that are part of a path you are choosing to take (like filing bankruptcy). You pay a fee to file the bankruptcy, then pay or lose triple that to get out of the problems your attorney “forgot” to tell you about (like using your tax refunds or your mother being sued because you paid her back just before filing the bankruptcy). Why did they forget? Because they can make triple the fees. It is that simple.
My point is that ‘cheap’ is never cheap. Take time to investigate anyone you are hiring, whether a plumber, handyman or attorney. Ask lots of questions about what you are obligated to do in the long run.
– Diane L. Drain
Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
In Case You Missed It
Published On: April 19, 2026
A Human Being Is Not an LLC Many people set up a small LLC or corporation for business or asset-protection reasons and then, over time, stop thinking about it as a separate legal entity. They [...]
Published On: April 11, 2026
Reaffirming Arizona Home Loan During Bankruptcy If you file bankruptcy in Arizona, you may be asked whether you want to reaffirm your home loan. That is an important decision because reaffirming means the debt will [...]
Published On: February 8, 2026
Reprint from the United States Bankruptcy Court The bankruptcy discharge varies depending on the type of case a debtor files: Chapter 7, 11, 12, or 13. Bankruptcy Basics attempts to answer some basic questions about [...]
Published On: January 16, 2026
Your Arizona home is now protected
