Arizona Chapter 13 Bankruptcy Lawyers

Stop Foreclosure and Protect Your Assets

Chapter 13 bankruptcy is available to individuals and families that have income and own assets but are unable to catch up with their debts. If you think you need a Chapter 13 or you do not qualify for a Chapter 7, consider planning ahead and working with an experienced and strategic lawyer. The Arizona Bankruptcy Center will review your income, assets and debts to analyze your options and determine whether bankruptcy is right for you.

What Is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy is a bankruptcy option that handles individuals' and families' financial challenges by working out a manageable payment plan. Filing for Chapter 13 bankruptcy allows people facing serious cash flow issues to reorganize their debt under court supervision. Specifically, in Chapter 13 bankruptcy:

• The debtor proposes a plan to repay his or her debts over a three- to five-year period.
• Payments on most types of debt are reduced. Exceptions include taxes, child support, alimony, and car and house payments.
• Creditors cannot collect or attempt to collect previously incurred debts during the repayment period, except through the court.

Eligibility for Chapter 13 bankruptcy requires that debtors have court-defined "disposable" income, which is used to make reduced payments on debts. Nondisposable income is left with the debtor for living expenses. Chapter 13 may allow you to stop creditor harassment, protect a home from foreclosure and reduce your overall debts.

Contact Our Tucson, Prescott and Phoenix Debt Payment Plan Attorneys

If you have questions or are ready for a fresh financial start, contact our Arizona Chapter 13 bankruptcy attorneys by calling us toll free at 866-780-4855. You can also submit a question or arrange a free consultation by e-mailing us directly from our website.