Planning to file chapter 7 bankruptcy? A bankruptcy lawyer in Glendale, AZ should be your first phone call once you have decided to file. Chapter 7 bankruptcy moves quickly but it involves a lot of meetings and paperwork, not to mention the requirements you must meet to be eligible to file for chapter 7 bankruptcy in the first place.
A bankruptcy lawyer in Glendale, AZ can help walk you through the chapter 7 process, from your first steps toward filing to your final discharge of debt.
What You’re Choosing
When you file for chapter 7 bankruptcy, you give up all property that is not exempt. A bankruptcy trustee will sell these assets in order to pay back your debts in a process known as liquidation. Your bankruptcy lawyer in Glendale, AZ can help you find state exemptions which may apply to you, allowing you to keep some specific personal assets.
In order to file chapter 7 bankruptcy you must meet a means test. If your income is more than the median income for Arizona, you will not be able to file chapter 7 and must look at chapter 13 bankruptcy instead. A bankruptcy lawyer in Glendale, AZ will help you make this determination so you know where to start and what your options entail.
All the Information on the Table
When you have begun the process to file chapter 7 bankruptcy you must list all creditors, all of your property, and the sale value of each asset. These forms must be filled out properly and completely, done within time limits prescribed by law. Your bankruptcy lawyer in Glendale, AZ has assisted with these forms in the past and should know exactly how to file chapter 7 bankruptcy without issue. This is not something you will want to wade through on your own – the skill and experience of a bankruptcy lawyer in Glendale, AZ is very beneficial for chapter 7 applicants.
Even a chapter 7 bankruptcy case that seems simple should be handled by a bankruptcy lawyer in Glendale, AZ. This is an important legal process and one that applicants should take very seriously – if your financial future is already worrisome, it only makes sense to give yourself every opportunity to make things right. A bankruptcy lawyer in Glendale, AZ will support and guide you throughout your chapter 7 bankruptcy, ensuring your best chances of success and prosperity in the future.
This blog is intended as a general discussion of legal issues and not as a statement of fact, legal advice or a legal opinion. No attorney-client relationship is created by this blog. Do not act or rely upon law-related information in this communication without seeking the advice of an attorney licensed to practice in the relevant area.