Arizona Bankruptcy Attorneys For Chapter 7 and Chapter 13 Filings
Living paycheck to paycheck and struggling to make ends meet is stressful
as it is. With mounting debts and collection calls, it can be difficult
to figure out the right course of action regarding your debt. Fortunately,
Arizona residents rely on Price Law Group and our Chapter 7 and Chapter
13 bankruptcy attorneys to guide them through the bankruptcy process.
Know that you are not alone during this time; we understand the situation
that you are in.
There are typically two options for residents in Arizona when it comes
to wiping away many of their outstanding debts: Chapter 7 or Chapter 13
bankruptcy and we will help determine which type of bankruptcy is right
for your situation.
Residents in Arizona looking to file for Chapter 7 bankruptcy must qualify
for this type of bankruptcy. You must make less than the median income
in your specific area, however, if you make more than the median income,
there are still ways to qualify for this type of bankruptcy. Chapter 7
bankruptcy is also referred to “liquidation” or “straight
bankruptcy” where you can get immediate relief from the creditors
in which you owe monies to on your outstanding debts and there is no repayment
plan for this type of bankruptcy.
Chapter 13 bankruptcy also known as “wage-earners bankruptcy”
is a type of bankruptcy where all of your outstanding debts are organized
into one group and the majority of your income goes towards paying off
these debts over a 3 to 5 year period. You will have monies left aside
to pay mandatory bills such as a car or house payment, rent, utilities,
etc. but the rest of your disposable income will be placed towards repaying
your debts.
When you are looking for a way to take control of your financial situation,
Chapter 7 or Chapter 13 bankruptcy may be the answer to your financial
situation. While bankruptcy isn’t right for everyone, it can be
the right path when you are struggling to make ends meet. Work with our
Arizona bankruptcy attorneys today to wipe the slate clean and start fresh
in your financial life.