Bankruptcy, Chapter 7 or Chapter 13, is and option for many Phoenix residents who want to reduce or eliminate debt. Each debt-relief case is unique, so depending on the circumstances of the debt, there may be alternatives to achieving financial freedom.

Contact our Phoenix attorneys and schedule a free consultation and debt evaluation.

A lawyer at our firm experienced in debt relief will listen to your financial goals and evaluate the debt. Consulting with an attorney will help you understand your rights as a debtor, and get options. Our legal team is dedicated to exceptional legal service and representation — if bankruptcy is not the best option for your case, we will advise you accordingly in order to achieve the best possible outcome for your case.

Filing for bankruptcy protection in Phoenix does not mean you will lose your car or house. The Arizona bankruptcy law provides protection of assets, and these exemptions are outlined in each bankruptcy case. The exemptions in individual bankruptcy filings are allowed in order to fulfill the goal of eliminating debt. Likely financial and debt problems may not go away if everything is taken away from the filer. Generally, the asset exemptions include reliable transportation, a modest home, necessary appliances and furniture in the home, reasonable personal items, and tools necessary for work.

Since each bankruptcy case has its unique circumstances, it is important you have the assistance of our Phoenix bankruptcy law team. Our experienced lawyers are experts in the bankruptcy law and code, and we can help debtors with retaining assets and get back on track financially as soon as possible. Discuss your potential debt relief case with an attorney by scheduling a FREE CONSULTATION and FREE DEBT EVALUATION. This initial free consultation can help you protect your rights as a debtor, get answers to your questions, understand your options, and keep your property.

Chapter 7 bankruptcy protection is the choice of Phoenix residents with overwhelming debt. The goal of a Chapter 7 filing is to completely discharge, or get rid of, certain kinds of debt in a short period of time. A discharge indicates the debtor will not repay the debt. Types of debt included in a Chapter 7 include credit card bills, medical bills, utility bills, or personal loans.

Qualification for Chapter 7 bankruptcy is determined by a means test.

Next, after a bankruptcy petition is filed by the attorney, the Bankruptcy Court appoints a trustee to oversee the case. Documentation and paperwork is collected and filed, then a 341 hearing is scheduled. If the trustee and bankruptcy court approve the process, a discharge is granted.

Filing for Chapter 7 or Chapter 13 bankruptcy in Phoenix will almost certainly have a negative impact on your credit initially. In many cases, clients who are in need of debt relief already have a low credit score or credit in need of repair due to significant financial stress.

However, our Phoenix bankruptcy lawyers will explain the implications of credit score as it pertains to your bankruptcy case. Also, our legal team will give you the necessary information in order to immediately begin repairing your credit. Plus, our Phoenix based firm doesn’t end legal representation with the bankruptcy discharge. Whereas, we offer our clients a program as part of the bankruptcy process which allows them, in the long term, to have a solid foundation for rebuilding credit and achieving future financial goals.