As a reputable Arizona bankruptcy attorney, our law firm has been effectively representing clients and consumer debtors in bankruptcy cases for a substantial time period. By combining tireless effort, a commitment to customer service, and a dedication to charging fair and reasonable fees, our firm has seen its client base expand rapidly to become the go-to Arizona bankruptcy attorneys. There is hardly any aspect of bankruptcy law that we haven’t encountered during our many years of bankruptcy litigation. By offering unparalleled availability to various clients at very affordable fees, we have grown to become an experienced consumer bankruptcy law practice. We are very proud of our many years of dedicated service to customers who have greatly contributed to the growth of our law firm and helped us maintain our commitment to availing professional legal advice.
The first thing a bankruptcy attorney will do when a client decides to file for the same is to decide which one of the six major types of bankruptcy under the US bankruptcy code is appropriate. The six types are known as Chapter 7, 9, 11, 12, 13, and 15; although chapter 7 and chapter 13 are the most frequently used and thus deserve a more detailed explanation.
Chapter 7 bankruptcy involves the basic liquidation of individual and business assets and is the fastest and simplest kind of bankruptcy to file. The Chapter 7 bankruptcy process is catered for by Federal law and gives an entity the leeway to make a fresh start financially. Chapter 7 gets rid of most of your unsecured debt and is generally suited for someone with little or no assets. Unsecured debts that can be eliminated by filing for Chapter 7 bankruptcy include credit cards, car accident awards, medical bills, and almost all personal loans. Filing for Chapter 7 bankruptcy is still a highly complex procedure that is best left to an Arizona bankruptcy attorney. Chapter 7 also allows you to at least retain some of your assets and is also sometimes called straight bankruptcy by legal novices.
Chapter 13 bankruptcy provides debt rehabilitation to individuals by developing a repayment plan for those that have a regular and reliable source of income. It thus allows regular earners to come up with a workable way in which they can repay all or part of what they owe their creditors. Filing for Chapter 13 bankruptcy will begin with your attorney filing a petition with your local bankruptcy court. The court will then require you to supply it with the following: a list detailing all your current assets and liabilities, proof of your current earnings and expenses, a schedule highlighting the status of any outstanding loan contracts or unexpired leases, and a detailed summary of all your other financial obligations. You must have a regular income to qualify to file for Chapter 13 and you will be allowed to retain your assets as you repay your debts over time. You will probably be allowed 3 to 5 years to repay all debts, pursuant to court-approved financial counseling and repayment schedules. Your eligibility may be nullified however, if your debts exceed a certain amount which you may find out from us, as your Arizona Bankruptcy attorneys.
Consumer Bankruptcy Advocacy and Lobbying
Our law firm has served as the voice for their indebted clients in diverse venues that include the judiciary and various other federal agencies. We also work with our clients in representing various issues dealing with consumer debt interest in Arizona’s state capital, and because we recognize the vital role played by the media in shaping public opinion, our firm is also involved in propagating many issues dealing with bankruptcy. We are very proactive in conducting public awareness campaigns to promote awareness in the availability and benefits of the bankruptcy litigation we provide.
Our first and primary function is obviously serving as a debt relief agent in assisting individuals in Arizona to file for bankruptcy relief as stipulated in the bankruptcy code. We also provide our clients with competent advice on other alternatives that are available to them rather than filing for chapter 7 or chapter 13 bankruptcy, which should only be done as a matter of last resort. These alternative services include mortgage refinancing, debt settlement, bankruptcy debt management, and credit counseling. Our firm’s services are also complemented by a number of innovative tools to help you predict what your credit score will be after filing for bankruptcy, to estimate how long it will take you to pay off all your debt, and to analyze how your credit rating will change post filing for bankruptcy.