Chapter 7 bankruptcy wipes out debt such as credit cards, medical bills, and other unsecured debt. Also, if you need to eliminate debt due to vehicle repossession or home foreclosure, Chapter 7 may be an option. Filing a petition for Chapter 7 ends collection attempts by creditors and wage garnishments. Glendale residents must qualify for Chapter 7 by completing a Means Test, which calculates income and expenses. Income must be less than Arizona’s median income for household size.
$0 DOWN BANKRUPTCY
Your new beginning begins with eliminating your debt, and a free debt evaluation with a Glendale bankruptcy lawyer. In particular, our attorneys provide professional advice and expert legal representation at an affordable cost. Our firm also offers a free consultation with an experienced attorney, a low fee guarantee, and $0 down bankruptcy program. $0 down to get a fresh start, and $0 down to file bankruptcy. In other words, with our $0 down bankruptcy program, filing becomes a possibility for Glendale residents who cannot fund the legal fees up front.
Also known as a reorganization bankruptcy, Chapter 13 allows a debtor to repay debt over a three to five year period. A repayment plan is established and a bankruptcy trustee oversees this plan. The repayment plan is based on income that is left over after necessary monthly expenses are paid (disposable income). In many cases, Chapter 13 can be a powerful tool to get out of debt. Bankruptcy Chapter 13 can protect assets. At the end of the reorganization plan, the remaining debs are discharged.
GLENDALE BANKRUPTCY PROTECTION – WHAT YOU NEED TO KNOW
Arizona bankruptcy laws provide certain protections to debtors who need to eliminate debt. Also, the bankruptcy code is a federal law that details the procedures of bankruptcy and oversees all bankruptcy cases. In addition, the most common bankruptcy chapter in Arizona is Chapter 7, followed by Chapter 13. In fact, the main objective of bankruptcy protection, is to give a debtor a fresh start through debt reorganization or liquidation. Particularly, our Glendale bankruptcy lawyers are experts in bankruptcy and will be able to assist you with your debt relief needs.
Additionally, filing bankruptcy is a means that provides debt relief. Therefore, a bankruptcy discharge of debt may be an option for you if you owe creditors more than you are able to pay. Furthermore, the Arizona bankruptcy laws provide a discharge (release of all personal liability and legal obligation to pay a debt) and wipes out overwhelming debt. It is also important to understand which chapter bankruptcy is best for your specific needs and debt relief. That is to say, our experienced Glendale bankruptcy lawyers can help assure you that you are filing for the correct chapter of bankruptcy. To put it another way, having an experienced debt relief attorney on your side will greatly increase your chance of receiving a discharge when declaring bankruptcy in Glendale, Arizona.
GLENDALE BANKRUPTCY MEANS TEST – WHAT YOU NEED TO KNOW
The majority of bankruptcies filed in Glendale, Arizona are Chapter 7. Also, this chapter of bankruptcy protection can be a powerful tool to get you out of debt. Before filing a Chapter 7 bankruptcy petition, however, you must qualify. The Arizona means test is a measure of your income against the Arizona median income. For example, if your income is less than the average resident in Arizona for the size of your household, you will most likely qualify for Chapter 7. While if your income is higher than the median income for Arizona families, you may not be eligible for Chapter 7 bankruptcy. In Arizona, Chapter 13 is the next most popular bankruptcy filing after Chapter. Arizona residents who do not qualify for Chapter 7 may seek the bankruptcy protection and benefits of Chapter 13.
GLENDALE BANKRUPTCY CREDIT COUNSELING – WHAT YOU NEED TO KNOW
Before filing the bankruptcy petition in Glendale, Arizona, you are required to attend an approved credit counseling session. After completing the course, you receive a certificate that is filed with other bankruptcy paperwork and documents. There is also a fee for the credit counseling course. As well as, forms, schedules, and filings must be completed and deadlines for paperwork met.
MY AZ LAWYERS GLENDALE BANKRUPTCY LAW OFFICE
Our firm is here to help you get out of debt, debt stress, help end wage garnishments, stop harassing collection attempts from creditors, foreclosure proceedings, or vehicle repossession. When it comes to making the decision to declare bankruptcy for the good of your future, you need an attorney with experience filing bankruptcy in Glendale. We know the Arizona bankruptcy courts, the trustees, the process, and the Arizona bankruptcy code and laws.
Additionally, My AZ Lawyers Glendale Bankruptcy Law office dedicate themselves to helping Glendale residents with debt relief. Call our office today to schedule a consultation with an attorney who can eliminate the crushing debt from your life and stop the cycle of debt. A “Fresh Start” is only a call away.
Our team of professionals at My Arizona Lawyers will help you through every step of the bankruptcy filing process. We are qualified and experienced in representing Glendale residents seeking a fresh start. Get control of your debt.
GLENDALE CHAPTER 7 BANKRUPTCY – WHAT YOU NEED TO KNOW
Once you determine you qualify for Chapter 7 bankruptcy protection (when you pass the Arizona Means Test), it is important to understand what Chapter 7 bankruptcy can do for you.
Here’s what you need to know:
- Chapter 7 offers immediate debt relief.
- You will no longer stress about monthly payments, or overwhelming debt.
- Most Credit card bills are unsecured debt that can be wiped out by a Chapter 7 bankruptcy.
- You can immediately begin to repair and rebuild your credit.
- Vehicle repossession actions will stop.
- You have a brand new financial future and a new beginning with a clean financial slate.
- Paycheck garnishments and bank account garnishments will stop.
- All foreclosure actions will end.
- Medical bills will be discharged (erased)
- Civil Lawsuits to collect a debt will stop.
- You may keep your property that is exempt under Arizona exemption law, which is most of what you own, typically.
- Creditor harassment must end. Creditors or collection agencies are no longer allowed to call you to collect a debt.
- There are no debt limits that would hold up a discharge.
- Your earnings after filing a bankruptcy petition will be free of any discharged obligations.
- There are no repayment plans to prepare or submit.
- Chapter 7 legal fees are typically less than other chapter bankruptcy filings.
- Unsecured debts will be wiped out.
- You have no legal obligation to repay debt after receiving your discharge.
- All debts that are discharged will never have to be repaid: credit card bills, payday loans, auto loans, some judgments, repossession deficiency balances.
- Your fresh start includes a feeling of freedom from the effects debt has on your family, personal, and professional life.
THE CHAPTER 7 PROCESS IN GLENDALE – WHAT YOU NEED TO KNOW
Basically, the process will allow you to get out of debt, eliminate stress caused by severe debt, then rebuild credit to start a new chapter in your life. This new beginning begins with an appointment with a Glendale bankruptcy lawyer. You probably have fears, questions, and concerns about filing bankruptcy. It is common for our clients to be apprehensive about declaring bankruptcy. Then they get the information and facts that they need to help them make positive decisions toward debt relief.
With our Glendale Chapter 7 bankruptcy attorneys, one of our Glendale bankruptcy lawyers will assess your debt and evaluate your specific financial and debt situation in order to provide the best legal representation for your needs. Every bankruptcy case is different and presents itself with unique circumstances. Our Glendale bankruptcy lawyers have the knowledge of the Arizona bankruptcy law, the resources, the experience filing bankruptcy in Glendale, and an exceptional debt relief team that will help you get out of debt. The attorney will explore all debt relief options and advise you on your best option for debt relief.
GLENDALE BANKRUPTCY DEBT RELIEF – WHAT YOU NEED TO KNOW
Which type of debt relief is best for your financial goals and personal needs? If you need to eliminate debt, bankruptcy is an option. The process can be complex, and our bankruptcy law firm will give you the guidance and representation to see you through the entire process.
After a thorough debt evaluation, an attorney will prepare a strategy that will result in the best possible outcome for your case. We will protect your rights as a debtor as we proceed through the bankruptcy process. Next, we will determine which chapter bankruptcy is best for you. For example, Chapter 7 and Chapter 13 are the most common bankruptcies filed in Glendale. Each have distinct benefits, and treat debt and assets differently.
Steps of Filing Bankruptcy in Glendale, Arizona
In the Chapter 7 bankruptcy process: contact My AZ Lawyers Glendale Bankruptcy Law office. Schedule an appointment for a free case evaluation and consultation with an attorney. Ask about our $0 down bankruptcy program, which allows you to pay no money down in legal fees to file a bankruptcy in Glendale. Also visit with our team about the affordable payment options available. Immediately feel better that you are taking control over your debt and making positive steps toward improving your financial future. Even if you choose not to use our debt relief services, you are on your way to gaining information you need to deal with your debt.
Complete the Arizona Bankruptcy Means Test. You need to prove that you qualify for Chapter 7 bankruptcy protection. They call it a test, but the questions you must answer to “pass” and be eligible for Chapter 7 have to do with your income. Also, the test uses a formula to compare your average household income to the Arizona median (average) income. If your income is below the median, you qualify for Chapter 7. The test also uses “annual” income. Your “annual” income is based on an average of the 6 months of income before you file your petition for bankruptcy. As part of our legal service to help you through the process, an attorney at our firm will help you with the means test.
The annual income limits for filing a Chapter 7 bankruptcy in Arizona:
- Single person household: $56,351
- Two person household: $60, 392
- Three person household: $60,392
- Four person household: $71,195
Your annual income needs to be less than the above amounts, based on the size of your household, to be eligible for Chapter 7 bankruptcy. Of course there are options if you do not qualify for Chapter 7. You may want to discuss debt settlement or a Chapter 13 bankruptcy with an attorney.
Complete a pre-filing bankruptcy credit counseling course. Arizona bankruptcy code requires that debtors complete this credit counseling before they file. It is also known as and referred to as a credit counseling certification. The course is available online, and there is a fee for taking the course. Upon completion, you will receive a certificate that proves you have met the requirements for the credit counseling as the law requires.
Gather information needed to file your bankruptcy. Our debt relief team will assist you with your paperwork needed to successfully file. We also know exactly which information will be needed for your case. Typically information is collected such as tax returns, pay stubs, debts owed, creditor information, and property and real estate.
Fill out the proper forms. Bankruptcy can be a bit complex — there are petitions, statements, applications, schedules, summaries, and declarations that need to be completed correctly. Specifically, our clients are most appreciative for the help they get from our experienced staff on this step! The appropriate paperwork must be filed with the bankruptcy court within the time frame and deadlines set by the court.
A meeting of the creditors. You must attend a court proceeding called a 341 hearing. This is a mandatory court appearance. No worries! Your attorney will completely prepare you for the hearing. We will tell you everything to expect, and answer all your questions about this court date. Many of our clients are fearful about this court hearing, until they hear an explanation from an attorney. Our clients appear in bankruptcy court with confidence, and their attorney right by their side at the hearing.
It is called a 341 hearing, because it is required by section 341 of the Bankruptcy Code. You will meet with a trustee (not a judge) appointed to your bankruptcy case. In addition, creditors are allowed to attend this hearing. The trustee will ask you questions about your bankruptcy petition. Your attorney will prepare you for these questions. The role of the trustee is to make sure that your creditors get paid as much as possible. As part of their job, they need to make sure that you didn’t leave out any property of assets in your bankruptcy, and that your income reports are accurate.
Preparation for 341 Hearing
How will our Glendale Bankruptcy attorney make sure you are ready for your 341 hearing? Before the meeting of the creditors, your attorney will review your bankruptcy petition carefully to make sure there is nothing inaccurate, or that there is no information missing. You need to bring a photo identification to the court. Also, your attorney will let you know about anything you need to be responsible for to bring to the hearing. There will be no judge present, just a trustee who will run the hearing. After swearing you in, the trustee will ask you questions while you are under oath. Again, your attorney will cover with you typical questions that the trustee will ask. The 341 meeting is nothing to be worried about, especially after a lawyer spends time with you and explains what to expect.
Receive a discharge. At the end of a Chapter 7 bankruptcy, a discharge is ordered. Also, the discharge frees you from any legal obligation to pay a debt. They will grant a discharge upon all the requirements of your bankruptcy being met. Once your debt listed in the bankruptcy case have been discharged, the creditors may never attempt to collect that debt again.
Begin rebuilding your credit. It is true that your credit score will take a hit after filing for bankruptcy. But how good was your credit, really, before bankruptcy? Often we see clients with poor credit because their debt was causing them to become behind on payments. Now that you have cleared up your debt, you have a fresh start.
Additionally, My AZ Lawyers Glendale bankruptcy attorneys are not going to boot you out the door once you receive your discharge. Our debt relief team will give you the information and tools available in order to immediately start rebuilding your credit. We also offer a program that is proven to improve a credit score if followed properly. Plus, we can advise you on steps you should take to start repairing your credit. Your life after bankruptcy is going to be a positive one! No what you have eliminated debt, you start from square one, and begin building your financial future. Lastly, we will help you to achieve those financial goals!
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