Chapter 7 bankruptcy provides a fresh start to people who are overburdened with debt. Maybe your credit card company raised your interest rate or you got divorced. Maybe you had a medical emergency. Maybe you lost your job or took a pay cut. Whatever has caused you to become overwhelmed by debt, Chapter 7 could help.
At the Arizona Law Group of Trezza & Associates, we can help you understand your options and pursue bankruptcy protection.
Contact us for a consultation with attorney Stephen Trezza. We offer a money-back guarantee to our Chapter 7 clients: If you are not satisfied, we will refund your legal fees.
What It Means to File Chapter 7
Under the Chapter 7 bankruptcy procedure, we file for protection from the bankruptcy court, and a trustee administers your non-exempt assets. The court then has the authority to permanently eliminate, or discharge, certain types of debt, including credit card debt.
You may have heard Chapter 7 bankruptcy referred to as liquidation. What that means is that in certain cases, the court can sell off non-exempt property to partially repay creditors. However, many types of property are exempt, so most people do not lose anything. We will formulate a plan that will allow you to keep as many assets as possible.
Chapter 7 Bankruptcy or Chapter 13 Bankruptcy?
Chapter 7 is the most common form of bankruptcy, but it is not the only form. While we believe that filing Chapter 7 bankruptcy typically is the fastest and least expensive method with the most powerful impact on debt, Chapter 13 bankruptcy makes more sense in some cases.
Perhaps Chapter 13 is necessary to protect a certain asset, although most property can typically be protected in Chapter 7. Chapter 13 is also available to those who do not qualify for Chapter 7. We will review all options with you, quickly addressing the following questions:
- Do you qualify for Chapter 7 bankruptcy in Tucson, Mesa or Tempe?
- What can I keep after filing Chapter 7?
- Simple Chapter 7 or complex Chapter 7?
If you are like most people, you have a lot of questions that you want answers to before you go ahead and file bankruptcy. We will take the time to answer those questions. We have also provided a bankruptcy FAQs section for you to review.
Contact Us to Learn More About Chapter 7 Bankruptcy
Every case is different, so it is important to discuss your situation with a Tucson Chapter 7 bankruptcy lawyer before making a decision. Contact us to discuss your options.
