Phoenix Bankruptcy Lawyers

PHOENIX CHAPTER 7 BANKRUPTCY ATTORNEYS

FILING CHAPTER 7 BANKRUPTCY

In a chapter 7 bankruptcy a consumer has the ability to rid themselves of all dischargeable debts in order to get a fresh start financially by abolishing all qualifying debts. The purpose of a chapter 7 bankruptcy in the State of Arizona is to give a consumer the chance to eliminate all debts legally by filing the required legal documentation including a bankruptcy petition listing all debts, and financial liabilities one may want to include in their Phoenix chapter 7 bankruptcy.

 

All documents are reviewed by a state appointed trustee prior to the initial bankruptcy hearing in which the trustee and judge are present as well as any creditors wanting to challenge the bankruptcy filing. Once the hearing is completed, there is a waiting period in which the bankruptcy will be discharged. This time fram is usually about 60-90 days.

 

Shortly after a discharge a consumer can start rebuilding their credit quickly as many car dealerships and credit card companies offer programs for individuals to be financed for used cars or credit cards. These programs often come with much higher interest rates because of the risk factor associated with the borrower but it is a great way to rebuild credit.


There are several different types of qualifying debts one can eliminate by filing a chapter 7 bankruptcy in Phoenix, Arizona. If one is filing a chapter 7 bankruptcy, these are the debts that you may include in your Arizona bankruptcy case:


  • CREDIT CARDS
  • MORTGAGE LOANS
  • PERSONAL LOANS
  • TITLE LOANS
  • COLLECTIONS
  • MEDICAL BILLS
  • AUTO LOANS
  • PHONE BILLS
  • CASH LOANS
  • INSTALLMENT AGREEMENTS
  • FURNITURE CREDIT
  • DEPARTMENT STORE CREDIT


These types of debt all qualify for a chapter 7 bankruptcy filing. If there are any loans with any collateral attached to them such as an auto loan, for example, the property must be repossessed by the lender.

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