Mesa, Arizona Means Test Attorney

Means Tests and Bankruptcy Decisions in Mesa, Arizona

If you are wondering “”Is Bankruptcy Right for Me?” there is a prior question that needs to be answered. The starting point in preparing, filing, and following through (declaring)bankruptcy on a petition for any form of bankruptcy is to find out if you are eligible to file for bankruptcy protection. The Mesa bankruptcy lawyers at My AZ Lawyers can determine your qualifications for bankruptcy and advise you as to which chapter of bankruptcy is the best for you to file.

The law that governs bankruptcy procedure provides a standard method of determining eligibility, called a “means test.” Your eligibility to file for bankruptcy and the chapter(s) of bankruptcy that you might qualify for will be determined by your financial means through this bankruptcy means test. The definition of ‘financial means’ is the money and other financial resources that someone has to live on.

When someone in Mesa, Arizona decides they can no longer get along because they don’t have the financial means to live on, a bankruptcy action is an option for getting that situation back under control.  The US Government Bankruptcy, Abuse Prevention and Consumer Protection Act of 2005 can declare a person bankrupt and excuse some of their debt in order to help them regain control of their financial condition. The Bankruptcy Court reviews an individual’s financial means, decides if a bankrupt condition exists and if so, what form of help to the individual is reasonable in terms of discharged debt.  An individual must collect, organize and present a picture of income, debts, and other related financial facts if he is to use the Act and a bankruptcy decision to help in his financial dilemma.  The details of a financial means picture thus requires the help of an experienced and knowledgeable Mesa Bankruptcy Lawyer.

What are the details of a Bankruptcy Means Test?

Depending on one’s level financial means, Chapter 7 of the Act might apply.  If it does, the bankrupt individual can get unsecured debt obligations discharged in full.  If the person’s financial means basically supports a bankruptcy decision, but doesn’t support a Chapter 7 decision, Chapter 13 of the Act applies. The individual pays whatever part of the debt that can be paid within his existing means, with the rest of his unsecured debt discharged by the Bankruptcy Court.

Thus, different financial means data on income, debt and other assets are required by the Court.  The experienced bankruptcy attorneys at My AZ Lawyers give their clients the ability to provide the required data from their home or office computer, without ever having to come into the office. My AZ Lawyers have successfully filed hundreds of bankruptcy petitions for clients throughout Arizona, and the client will need to travel to Phoenix or Tucson only to attend a Section 341 Creditors meeting at Court.

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 Mesa means test 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 Mesa Means Test Lawyer web site.

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.