A Phoenix bankruptcy attorney can help you get your financial life back on track. When it comes to debt relief, there are many options, but one of the best ways to start over is by filing for bankruptcy. It may seem like the last thing you want to do, but in many cases it’s the only way to reclaim your freedom and get a fresh start.
The right bankruptcy attorney in Phoenix, AZ can help you determine the best choice for your situation. For example, if you own a home, it’s important to know that under Arizona law, you can keep your home in full or in part. In some cases, you can continue to make loan payments while keeping your home. Keeping a car can also be an option, but you might have to reaffirm to your creditor.
You can choose to file for a chapter 13 bankruptcy or a chapter 7 bankruptcy. Each has its benefits and drawbacks. If you own a business, you might want to consider a chapter 11 filing. But even if you have no debt, it’s a good idea to seek out a professional to assess your situation.
A Phoenix bankruptcy lawyer can answer all your questions. They can explain the process and help you figure out what type of filing will work for you. Although the process is simple, you will need to fill out specific paperwork with the court. By working with a trusted lawyer, you can avoid any pitfalls.
Having a bankruptcy attorney at your side will also allow you to make a smooth transition into your new financial life. Your attorney can answer any questions you have and protect you from abusive collectors. Some lawyers will offer payment plans for Chapter 7 and Chapter 13 bankruptcies, though these may not be available for all types of filing.
The right attorney can also help you decide whether a chapter 7 is a wise move for you. Most people file for a chapter 7 because they have overbearing medical bills or an unexpected loss of income. Filing for bankruptcy can allow you to wipe out your unsecured debts, freeing you from many of your burdens. Nevertheless, you might want to consider other debt relief methods first.
The process of filing for bankruptcy is not as complicated as it may seem. A bankruptcy attorney will assist you with the initial paperwork and help you file for the correct chapter. However, you must still pay your attorney fee before filing. This cost is generally 6.50% of the total owed.
The Phoenix bankruptcy qualification calculator can estimate the cost of filing for a chapter 13 or a chapter 7 bankruptcy. It’s not a surefire way to predict your eligibility, but it’s a great start.
There are also free bankruptcy consultations designed to determine which type of bankruptcy will suit your situation. A good Phoenix bankruptcy attorney will also tell you if you’re likely to qualify for the most common types of filings, such as a chapter 7, which might be the best option for you. Click here for more information.