Mesa Chapter 7 Bankruptcy Lawyer

An Overview of Chapter 7 Bankruptcy

You may have already made the decision that bankruptcy is a wise solution for your situation, or you might still be wondering if filing bankruptcy is the right solution to your financial problems?  Either way you should probably contact a Mesa chapter 7 bankruptcy lawyer to assist you in your decision.

Originally our lawmakers recognized that an honest and responsible person could get into an impossible financial situation. In answer to this they established bankruptcy as a legal solution to provide relief and a fresh start. There are different avenues, the best known of these are Chapter 7 bankruptcy, and Chapter 13 bankruptcy.   Chapter 7 is sometimes referred to as liquidation bankruptcy. As in anything to do with the law, there can be pitfalls in a bankruptcy proceeding which you will need to avoid. For this reason it is recommended that you consult the assistance of a Mesa Bankruptcy Attorney who can explain the process and guide you through it.

The most common type of bankruptcy filed by residents in Mesa and through out Arizona is Chapter 7 bankruptcy.  Chapter 7 Bankruptcy is primarily an option for people with lower incomes who find themselves struggling with insurmountable debt.  It is also designed for those who have little to no valuable assets that would need protection from liquidation (sale).  The process of filing Chapter 7 involves an individual having all of their nonexempt assets liquidated to aid in paying off their creditors, as well as having their debts cancelled by a bankruptcy trustee.  As the person usually has few valuable assets, the liquidation process tends to be easier than for one who may own many valuable assets, such as homes or expensive vehicles.  If you intend to file for bankruptcy and believe that Chapter 7 bankruptcy may be the most suitable option for you, please seek the assistance of a Mesa Bankruptcy attorney.  Our experienced bankruptcy lawyers possess the bankruptcy experience necessary to assist you through the process of filing for bankruptcy protection in Mesa, Arizona.  Our Mesa bankruptcy law office has helped hundreds of people in Mesa and throughout Arizona get the debt relief they seek.  Let us help you with your current financial situation.

Chapter 7 Bankruptcy Attorneys in Mesa, Arizona

How Chapter 7 Works in Mesa, Arizona

The process of filing for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code begins with the filing of a petition with the bankruptcy court. When the petition is filed, all creditors and debt collection agencies must immediately cease all collection efforts against the petitioner. This will stop all creditor contact, creditor calls, and harassment as well as any wage garnishment, vehicle repossession and filing chapter 7 bankruptcy will even put a temporary hold on foreclosure proceedings that may exist.

The debtor must also file all pertinent financial information with the bankruptcy court, including detailed accounts of expenses, income, and liabilities. A meeting of creditors (341 hearing) will then be held, at which point the debtor must answer questions about his or her financial situation to the bankruptcy trustee. The debtor may also reaffirm certain debts at this point in time, such as a car loan for a vehicle he or she wishes to keep.

After the successful completion of a Chapter 7 filing, all of your dischargeable debts will be canceled.  From the filing of your petition, this may take approximately 4 months to complete, (though the specific amount of time may vary depending on your particular situation). As for secured property such as a house or car on which you are making payments, you may keep that property in a chapter 7 bankruptcy if you reaffirm the debt and continue to make the payments.  As part of the chapter 7 process, you give up non-exempt property to satisfy debts.  You may keep all property normally exempt from execution under Arizona law such as clothes, furniture, and other personal effects.  Your Mesa bankruptcy lawyer will go over the property to fit as much as possible within the exemptions allowed in chapter 7 bankruptcy.

There will also be certain types of debt that cannot be discharged in chapter 7 bankruptcy, such as unpaid taxes less than three years old, government student loans, money owed in a personal injury judgment, alimony, and child support. Speak with a Mesa Bankruptcy Lawyer if you are suffering extreme financial stress and find out if you are eligible for Chapter 7. It is likely that you are. Our experienced Mesa debt relief experts can assist you to review your other debt relief options so that you can choose the right solution to your financial situation.  Don’t delay!  A “fresh start” and a Mesa chapter 7 bankruptcy lawyer is only a phone call away.

Mesa Chapter 7 Bankruptcy Lawyer

DISCLAIMER: The information you obtain at this Arizona Bankruptcy Law web site is not, nor is it intended to be, legal advice. You should consult a Phoenix lawyer for advice regarding your individual situation. Our Arizona Bankruptcy lawyers and staff invite you to contact our Arizona Bankruptcy Law Firm and welcome your calls, letters, and electronic mail. Contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.  Thank you for visiting our Phoenix debt relief web site about a Mesa Chapter 7 bankruptcy lawyer.

Our Mesa bankruptcy Lawyers are located in Mesa, Arizona, Phoenix, Arizona, and serve bankruptcy clients in Mesa, Scottsdale, Phoenix, Glendale, Gilbert, Queen Creek, Tempe, Chandler, Pleasant Valley, Avondale, Cashion, Casa Grande, Surprise, Prescott, Marana, Tucson, East Mesa, West Mesa, Fiesta Mall Area, Dobson Ranch, Las Sendas, San Tan Valley, Superstition Springs, Signal Butte, Alma School Road,  El Mirage, Peoria, Sun City, Sun City West, Tolleson, Youngtown,  Flagstaff as well as Pima, Pinal, and Maricopa County.