A Chapter 13 Bankruptcy Attorney is the best choice if you are facing foreclosure, repossession, wage garnishment or other forms of creditor harassment. They are able to help you determine whether bankruptcy is the best option for you and assist in the filing of your case.
Choosing the right Phoenix Arizona bankruptcy lawyer is important as they can guide you through this difficult and stressful process. This type of bankruptcy can help you regain control of your finances and get back on your feet. The first step is to sit down with an experienced attorney who will examine your income, expenses and debts to develop a repayment plan that works for you.
Meet with a credit counselor from a nonprofit counseling agency and a bankruptcy attorney before you file to learn more about your options for debt relief. Both of these meetings are free and can be very helpful in determining your debt relief needs and how bankruptcy might work for you.
Filing for bankruptcy is a very complex process, and you must be careful not to make any mistakes. Getting the wrong advice or failing to fill out the correct paperwork can lead to your case being thrown out or not having certain debts covered at all.
The best Phoenix Arizona Chapter 13 Bankruptcy Attorney will be able to guide you through the process and provide you with the legal counsel you need to get back on your feet. They will also be able to provide you with the advice and assistance you need to protect your rights and assets during this difficult time in your life.
Your debts can be reorganized and repaid in full or partially through a court-approved plan that will last between three to five years. During this period, you will pay a set monthly figure to a trustee who will disburse the funds accordingly.
In some cases, your unsecured debts can be repaid in proportion to the value of your assets, which may help you save your home or car. This is known as a “percentage plan.”
Debts like mortgage arrears, car loans, credit cards and student loans can be repaid in this way, but the amount that will be paid will vary depending on your situation. In some cases, this may be a relatively small percentage of your overall unsecured debts.
If your primary mortgage is in default and you are unable to repay it in full, a Chapter 13 plan can help you save your home. This is a great option for individuals and couples who need protection from foreclosure on their home.
This type of bankruptcy is also a good option for people who have lost their job or suffered a significant loss of income. It can also be a good option for people who have gotten behind on their taxes and cannot afford to pay them back.
The most common reason that a person files for bankruptcy is because their debts have grown out of control. The other common reason is that they are struggling to make ends meet. However, there are a number of other reasons that someone could qualify for bankruptcy.