Arizona Bankruptcy Lawyer
Whether you’re facing financial difficulties due to a job loss, divorce, illness or debt mismanagement, emotions are running high, and the choice to file for bankruptcy is never an easy one. But with an experienced and compassionate Arizona bankruptcy lawyer on your side, you can get the facts about the options available and make an informed decision you’re comfortable with. Bankruptcy is a very complicated interplay of several laws and should not be undertaken without adequate representation. Do not use document preparers or inexperienced attorneys.
If you are a creditor that needs assistance in your collection of a debt from an individual filing for bankruptcy, I am also able to assist you.
Types of Bankruptcy for Individuals
If you’re considering filing in Arizona, the three most common options are:
- Chapter 7 – Also known as liquidation, this type of filing will eliminate most, if not all, of an individual’s debts. Businesses are also able to file Chapter 7.
- Chapter 11 – This type of filing is primarily used by businesses and companies with a large amount of debt.
- Chapter 13 – Known as the “reorganization” option, this type of filing allows individuals to pay off most, if not all, of their debt within a three- to five-year period. The plan is monitored by a federal bankruptcy court. Chapter 13 also allows individuals to come current with their home mortgage and car payments. It may also allow you to completely eliminate and “strip away” junior liens from your real estate, making your real estate less “upside down.”
By far, the most common Arizona bankruptcy option for individuals is Chapter 7, but it’s not the right solution for everyone. To discuss your needs and begin the process of getting out of debt, please call (602) 923-7370 or fill out my quick contact form to schedule a no hassle consultation.