Phoenix Chapter 7 Bankruptcy Attorneys

Our Arizona Debt Relief Firm Can Help You Get a “Fresh Start Bankruptcy”

Chapter 7 bankruptcy, Arizona’s most frequently filed chapter of bankruptcy is also known as “fresh start bankruptcy”.  Many people in all walks of life fun into unexpected financial difficulties.  They are faced with over-whelming credit card debt, medical bills, and can’t keep current on their bills.  Usually, this is caused by something unexpected such as:  illness, divorce, loss of work, pandemic, or other circumstances that were unforeseen.

If you are finding yourself in a bad financial predicament, filing Ch 7 bankruptcy can be an effective debt relief method.  Filing a Phoenix Ch 7 bankruptcy discharges most of your debt.  Declaring Chapter 7 in Arizona gives you the “Fresh Start” you need. Additionally, in most cases, you will be able to keep your car, your home, and your retirement.

 Chapter 7 to Stop a Wage Garnishment

Zero Down Chapter 7 Bankruptcy

Benefits of Filing Ch 7 in Arizona

Stop a wage garnishment

 Chapter 7 to Stop a Wage Garnishment

Zero money down to file bankruptcy

Zero Down Chapter 7 Bankruptcy

Chapter 7 bankruptcy

Benefits of Filing Ch 7 in Arizona

phoenix bankruptcy attorneys FAQS

frequently asked questions

Our Phoenix Bankruptcy Lawyers discuss some of the most asked questions regarding declaring bankruptcy in Phoenix, Arizona.  Chapter 7 is the most often filed Chapter of Bankruptcy filed in Phoenix.  Get the Phoenix Fresh Start Bankruptcy that you are seeking by contacting our debt relief team for a FREE Consultation.  With payment plans for every budget and the experience of thousands of successfully filed Phoenix bankruptcies, our debt relief attorneys can help.

ANSWER:

Chapter 7 bankruptcy liquidates many types of unsecured debts. Individuals who meet certain income criteria will be eligible to discharge their debts in a process that typically lasts 4-6 months.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Chapter 13 bankruptcy is a reorganization of debts into a payment plan that lasts either 3 or 5 years. Those who make less than the state median income for their number of family members will have a 3 year plan, and those who make more than that amount will have a 5 year plan. Unsecured debts that haven’t been paid off in the payment plan will still be discharged when the bankruptcy is complete.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Chapter 7 is a 4-6 month liquidation of debts, while Chapter 13 reorganizes debts into a 3-5 year repayment plan. Chapter 7 has income limits, while Chapter 13 has debt limits. The Chapter 7 bankruptcy exemptions don’t apply to Chapter 13 cases. Some debts, such as junior mortgages, can be discharged in Chapter 13 but not Chapter 7. Filing Chapter 7 won’t stop a domestic obligation wage garnishment, but a Chapter 13 that will pay off all arrearages will.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

The filing fee for a Chapter 7 bankruptcy is $338. Legal representation comes with extra costs. However, you may be able to file Chapter 7 bankruptcy for as little as $0 down, including your filing fee, with a Phoenix bankruptcy attorney who offers Zero Down payment plans.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Unlike Chapter 13, it is fairly simple to file Chapter 7 as an individual, even if you are married. However, your spouse’s income and assets will still count towards Chapter 7 eligibility requirements. Arizona is a community property state, so you should be cognizant of how your debts are structured before proceeding with a single Chapter 7 bankruptcy as a married person. Community debts, or debts that were incurred during the marriage, are only discharged from the name of the spouse who declares bankruptcy. The other spouse may be pursued for the balance should the couple divorce.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

In a Chapter 7 bankruptcy, your trustee may seize any of your assets that aren’t protected by your state’s bankruptcy exemptions. For example, the homestead exemption in Arizona is $150,000. If you have more than $150,000 equity in your house, you will either need to surrender it in the bankruptcy and any sales in excess of the exemption will be used to pay your debts, or you can file Chapter 13 instead.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Chapter 7 bankruptcy wipes away unsecured debts like credit cards, medical bills, repossession deficiencies, taxes that meet certain requirements, and more. However, some debts, like child support and alimony, won’t be discharged in bankruptcy. Student loans are nearly impossible to discharge in bankruptcy. Some debts will also be excluded from your bankruptcy if they were incurred too soon before the bankruptcy or violate another bankruptcy restriction.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

If you make more than the state median income for your family size in Arizona, you will need to pass the Means Test to qualify for Chapter 7 bankruptcy. The purpose of the Means Test is to calculate your disposable monthly income to determine whether or not you can realistically pay off your debts. Mandatory expenses will be deducted from your income in the Means Test. Negative scores and those as close to zero as possible will qualify for Chapter 7.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Unsecured debts are debts that don’t have an asset or piece of property attached as collateral. Your mortgage is secured by your house, your auto loan by your car, etc. These debts often need to be reaffirmed, or the asset surrendered, for the bankruptcy to proceed. Unsecured debts, like credit cards, medical bills, and even some taxes, can be discharged in Chapter 7. There are some exceptions, so consult with a bankruptcy attorney if you are unsure of whether your unsecured debts will be discharged by a Chapter 7.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

It is mandatory that anyone who files bankruptcy attend a hearing known as a 341 Meeting of Creditors. Your creditors will have the option to attend, and your trustee will ask you questions about your case. However, there is no jury present, and these hearings usually only take five to ten minutes. You may need to attend additional hearings if you choose to reaffirm any of your debts.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Your cosigners and creditors will be notified for your bankruptcy, as will your employer if you have a wage garnishment. Your bankruptcy will appear in a public records search, and will remain on your credit for 7-10 years.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

You can’t be fired for filing bankruptcy, nor can you be fired for receiving notice for a wage garnishment. However, a bankruptcy on your record could make it harder to obtain certain employment, especially in the financial industry. Your employer may also legally terminate you after a second wage garnishment notice.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

ANSWER:

Your Phoenix Bankruptcy Attorney can help you file Chapter 7 bankruptcy in a multitude of ways, including by determining your eligibility, applying exemptions to your assets, helping you to decide what to do with financed assets, drafting your petition and creditor mailing matrix, completing all necessary filings, and more.
Additionally, you may even qualify for a Zero Down payment plan, which allows you to pay both your attorney’s fees and filing fees in affordable monthly installments after your case has been filed. To see how else a Phoenix Bankruptcy attorney can help you, call the professionals at My AZ Lawyers at 480-833-8000 to schedule your free consultation today.

CONTACT AN EXPERIENCED PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEY

What is a Chapter 7 Bankruptcy?

A Phoenix Chapter 7 Bankruptcy is a liquidation of your unsecured debts. Thus, debts that are dischargeable in a Ch 7 Bankruptcy are credit cards, medical bills, registration loans, personal loans, and some back taxes. Additionally, you will be required to submit a petition with all of your financial information, take credit counseling courses, and attend a 341 Meeting of Creditors.

How long does a Phoenix Chapter 7 Bankruptcy stay on your credit?

A Chapter 7 BK will remain on your credit for 10 years. Additionally, it will be two years until you are eligible for FHA home loans.  However, you can still rent and open new lines of credit until the bankruptcy is off your credit.

How to stop a foreclosure in Arizona infographic

How Much Does it Cost to File Chapter 7 in Arizona?

The filing fee for a Chapter 7 in Arizona is $335.  Thus, the filing fee is usually paid when the case is filed.  Contact our Phoenix Chapter 7 Bankruptcy Attorneys with additional questions.