Chapter 7

As Phoenix Arizona Bankruptcy Attorneys, we file Chapter 7 cases in order to help you and your family or business through financial turmoil and difficulties.

It is our job to help you through this process of bankruptcy. Contact the office so we can being to protect your business and family.

Please call and set up a free consultation: (480) 464-4667

If you would like to learn more about other chapters of bankruptcy, click here to learn more:

Steps to get a Fresh Start

In Phoenix Arizona, you and your family can get a “Fresh Start” filing a chapter 7 bankruptcy. A fresh start means that you don’t make any additional payments on dischargeable debt. The debt collection will cease. You won’t be at risk of garnishments or telephone calls. Though bankruptcy does not fix all of your financial struggles, it can provide relief in a number of ways. Without our experience and knowledge, we will be able to assist you with your bankruptcy filing.

Prior to filing, we will discuss your options. Most of the time, people will be able to keep their cars and home. There are different legal issues that must be analyzed, but you would understand the risk prior to filing chapter 7 bankruptcy.

Chapter 7 Bankruptcy Attorneys will find the best ways to stop foreclosure or repossessions efforts of creditors. As a Phoenix Arizona Chapter 7 bankruptcy attorney, I have dealt with these issues and recommend discussing this issue in a free consultation.

Summary

A Chapter 7 bankruptcy follows a structure that is fairly predictable. After going through the process, we are able to identify the different issues that may cause hiccups in a bankruptcy case.

To prevent issues, we review your finances and assets to determine both the positive and potential unwanted consequences that may come from filing bankruptcy. Then we discuss what can be done to minimize the negative affects of bankruptcy filing.

Next, a client must take a credit counseling class, the client will provide to the court a number of descriptions of assets and liabilities and activities that may affect the clients creditors. Within roughly thirty days, you will be required to attend a 341 Creditors’ meeting. In this meeting you will discuss your situation with the Trustee.

Prior to discharge, a client must take a financial management class.

Within a certain amount of time, a creditor may ask the court to except a debt from discharge. This means the debt does not go away in the bankruptcy. Though it is uncommon, a creditor or the federal government can ask that you be denied a discharge altogether.

Assuming no involvement with creditors or the Trustees, a discharge will arrive in approximately four – six months.

Click here for more indepth explanation of the steps of a Chapter 7.

A Fresh Start

A “fresh start” is what Courts call a Chapter 7. This means that a person does not have enough income to require a payment plan. Not all types of debts go away with bankruptcy filings. Exceptions to the chapter 7 discharge can be learned about by clicking on the link below:

Click here for more indepth explanation of a Chapter 7 bankruptcy.

What Do I Get To Keep?

Arizona has created a set of rules that allow debtors to keep certain types of assets. This means that most of the time you get to keep cars and your home. This is not an absolute rule and this is why it would be worthwhile to have a free consultation.

In order to take advantage of Arizona’s laws, you must have lived in this state for the last 24 months continuously. If you have not lived in Arizona for the last 24 months, you will more than likely use the exemptions from the last state you live in. To get a more precise explanation, click on the link below.

Click here to learn more about exemptions and property.

Do I Qualify For Chapter 7 Bankruptcy?

Since the 2005 BACPA Amendment to the Bankruptcy Code, a number of rumors and fears were spread about people’s ability to even file bankruptcy. This is not the case, however, experienced lawyers can help you understand how this applies to your situation. The first issue to determine qualification of bankruptcy is the Means Test. It is important to note that the Means Test does not apply to persons with more non-consumer debt.

Click here to learn more about the Means Test and qualification for a Chapter 7 Bankruptcy.

Mesa Phoenix Arizona Chapter 7 Attorney: What is a Discharge?

After completing the required steps of a Chapter 7, the court will enter a dishcharge on your behalf.