Understanding Your Options Under Chapter 7 Bankruptcy
Many potential clients we talk to think that passing the qualifications for filing under Chapter 7 bankruptcy have become nearly impossible. In fact, a large number of people in and around Phoenix, Arizona, still qualify to liquidate their debt while protecting key assets such as a home and car. While not an option for every family in the search of debt relief, it is important to understand your rights and your options.
If you are facing financial challenges that are causing you to consider bankruptcy, talk to an attorney you can trust for dependable, informed and specific answers. At the law offices of Boates in Anthem, we work closely with you to evaluate your situation, review your options and give you strong advice built around your unique situation.
Let us work to put you back on the road to financial recovery.
Liquidate Debt — Stop Collections
We see clients every day who have come to dread every visit to the mailbox, every ring of the phone, every knock on the door, for fear that yet another shoe is about to drop. Deciding to file for bankruptcy is an intensely personal decision, but if you do, make sure you have a trusted and experienced lawyer to work with.
The key difference between Chapter 7 and Chapter 13 bankruptcy is what goes to the creditors. Under Chapter 7, you liquidate assets, and the money from that goes toward paying off and eliminating things like credit card debt, medical bills and other unsecured debt. To apply, you have to qualify under the income bankruptcy means test. This test is designed to make sure that the process is available to those who need it most, those with lower incomes.
However, Chapter 7 doesn’t necessarily mean that you lose everything. Working with our office, we can explore options to help you keep:
- Your home
- Your car
- Your retirement savings
- Certain heirlooms and important assets
With a focus on finding the right solution designed to fit your particularly situation, our consumer bankruptcy attorneys provide responsible, professional and personal legal service. Let us help you put an immediate end to creditor harassment and get you back on the path to financial recovery.
Understand Your Chapter 7 Bankruptcy Options
If you are considering filing for the debt elimination options of Chapter 7 bankruptcy, consult with a lawyer today to help you work efficiently and effectively. Contact us to schedule a consultation today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.