Decades of Bankruptcy Experience Serving Clients Everywhere in Arizona

Bankruptcy is a legal process designed to help individuals and businesses overcome overwhelming debt while offering a fresh financial start (United States Courts, 2023). In Arizona, bankruptcies follow federal guidelines; however, the state has its own exemption scheme that may protect specific assets. Working with a qualified bankruptcy attorney or searching for bankruptcy lawyers near me can provide valuable guidance regarding your rights and options in the state.

One of the most immediate benefits of filing for bankruptcy is the automatic stay, which halts all collection actions, including phone calls, letters, foreclosures, and wage garnishments (11 U.S.C. § 362). This legal protection begins the moment a bankruptcy case is filed. Arizona residents may find this particularly advantageous if they are facing urgent debts or property seizures, such as foreclosure on a primary residence.

Upon successful completion of the bankruptcy case, most remaining debts are discharged, meaning they can no longer be collected by creditors (United States Courts, 2023). However, certain obligations are generally non-dischargeable. These include student loans, certain tax debts, and domestic support obligations like alimony and child support (11 U.S.C. § 523). It is crucial to understand these exceptions to avoid unexpected financial liabilities post-bankruptcy.

Arizona has a distinctive set of bankruptcy exemptions found in the Arizona Revised Statutes (A.R.S. § 33 et seq.). Unlike some states that allow federal exemptions, Arizona mandates the use of its own exemption system for residents, including homestead protections for equity in a primary residence and exemptions for personal property. Consulting with a trusted bankruptcy attorney in Arizona helps ensure that you maximize your available exemptions and protect as many assets as possible.

Filing for bankruptcy can be a complex undertaking, but it may offer a path toward financial stability for those grappling with unmanageable debt. Learning about your options, from the automatic stay to the intricacies of Chapter 7 and Chapter 13, is the first step toward regaining control of your finances.

Two common types of consumer bankruptcy are Chapter 7 and Chapter 13 (United States Bankruptcy Court for the District of Arizona, 2023). A Chapter 7 bankruptcy—often referred to as “liquidation”—involves selling non-exempt assets to repay creditors. In contrast, Chapter 13 focuses on creating a manageable repayment plan over three to five years. When deciding between bankruptcy chapter 7 vs 13, factors such as income, asset protection, and long-term financial goals should be considered. A local bankruptcy attorney near me can help you choose the right path based on your specific circumstances.

If you're asking, 'Are there bankruptcy attorneys near me?'—the answer is yes! We serve every area of Arizona. Whether you're in the middle of nowhere or in the center of Phoenix, if you are struggling with debt, we are here to help. We can handle your bankruptcy case 100% remotely.