Bankruptcy Process

Professional Chapter 7 and Chapter 13 Litigators

People who file for bankruptcy are usually looking for a fresh start.  Through the bankruptcy process, they are given a clean slate as their debts are discharged and their accounts with creditors are closed. 

The bankruptcy process really begins once people file their petitions with a U.S. bankruptcy court.  Along with petitions, people will have to turn in a statement of assets and debts and also schedules that list their creditors.  All creditors, debts and assets must be listed in peoples’ paperwork or else the bankruptcy process may be delayed.

Once the paperwork is submitted to a bankruptcy court, the court will start to decide which type of property people can keep.  Some property may be exempt, which means that people will be able to remain in possession.  However, other property may be classified as non-exempt and may be subject to liquidation.  During liquidation, property is sold for profit and the profit is turned over to peoples’ creditors to resolve debts people owe.  All exemptions are regulated by state laws.  This means that exemptions for bankruptcy will vary state-to-state.

Due to the fact that people may lose their property and will have to accurately complete legal paperwork during the bankruptcy process, it is always advantageous for people to have skilled litigators on their sides.  When people hire experienced bankruptcy lawyers, their lawyers will assist them with paperwork, help them understand bankruptcy laws and also fight to help them remain in possession of their property.  Additionally, bankruptcy attorneys will represent individuals throughout all bankruptcy proceedings and meetings.

At The Arizona Bankruptcy Law Firm we understand that the bankruptcy process can be quite overwhelming.  This is why we aim to provide clients with the representation, guidance and resources they need to be at ease when they file for Chapter 7 or Chapter 13 in Arizona. 

 Arizona Bankruptcy Lawyers
If you are having a difficult time keeping up with your financial obligations, now is the perfect time to review your options with an experienced Arizona bankruptcy lawyer, like the lawyers at The Arizona Bankruptcy Law Firm.

The Arizona Bankruptcy Law Firm is committed to helping individuals throughout the state of Arizona file for Chapter 7 and Chapter 13 so they can get out of debt quickly.