Bankruptcy is a smart and effective debt relief solution for individuals, families and businesses looking to resolve unmanageable debt. In most cases, bankruptcy is filed after other options have already been explored or exhausted. You may have tried getting a second job, reorganizing your debts or limiting your spending. If these attempts are not working, it is time to take control of your finances and get the debt relief you need to move forward. The Arizona Bankruptcy Center is available to help you:
Our Arizona bankruptcy law attorneys are prepared to answer any questions you may have about the bankruptcy process. We frequently represent clients who need help addressing complex issues such as the relationship between bankruptcy and divorce and the consequences of debt negotiation.
Chapter 7 bankruptcy allows an individual, family or small business to discharge credit card balances and other unsecured debts. In Chapter 7, the bankruptcy trustee may liquidate certain assets to repay creditors, but the loss of a home or car is rare, and we are usually able to help our clients keep the majority of their assets while eliminating debts.
Chapter 13 bankruptcy is also known as "repayment bankruptcy." This bankruptcy protection is useful for people who have enough disposable income to pay off a portion of their debts under a court-approved repayment plan. The debtor usually emerges from debt after three to five years.
In a slow economy, it can be difficult for businesses to keep up with their debts. Chapter 11 bankruptcy enables businesses to reorganize under the supervision of the bankruptcy court, remaining open in the meantime instead of having to liquidate their assets and close up shop.
If you have questions or are ready for a fresh financial start, contact our bankruptcy lawyers by calling us toll free at 602-GOT-DEBT. You can also submit a question or arrange a free consultation by e-mailing us directly from our website.
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