Glendale AZ Bankruptcy LawyersJoshua Jacoby2021-11-22T14:54:38+00:00
Glendale Bankruptcy Lawyers
Low Cost Bankruptcy Attorneys in Glendale, Arizona
Glendale Bankruptcy Attorneys, like the low cost bankruptcy lawyers at My AZ Lawyers provide skilled legal counsel in a variety of legal issues, including chapter 7 bankruptcy, chapter 13 bankruptcy, defending against creditor calls and harassment, assisting those who need debt settlement, and debt relief. Bankruptcy is debt solution that has helped thousands of people in Glendale and throughout Arizona. Therefore, the Glendale debt relief experts of My Arizona Lawyers, our Glendale bankruptcy attorneys know your rights and can help you take action to both end and prevent debt problems.
Another benefit of our Glendale Debt Relief lawyers is the fact that you get to work with your bankruptcy attorney throughout the bankruptcy filing process. However, while many Glendale Bankruptcy Lawyers don’t ever meet directly with their clients, our Glendale debt relief team at My Arizona Lawyers meet with every client personally. Additionally, our attorneys assist the clients every step of the way. Plus. if you are looking for hands on service from your bankruptcy attorney, look no further.
Glendale Debt Relief Experts
Our Glendale debt relief experts can fight for you and your family if you are facing the loss of your home in a foreclosure defense. We also assist in ending wage garnishment, stopping repossessions, tax debts, freezes on bank accounts, and filing joint bankruptcy. Any financial situation can usually be resolved with the help of our Glendale bankruptcy law firm. Our Glendale debt relief experts will carefully analyze your financial situation and find the best solution for your problem, whether it is bankruptcy or another form of debt relief.
If you or your family is experiencing financial problems that have become unmanageable, or nearly so, you may be wondering if filing for bankruptcy in Glendale, AZ is the correct course of action for you. In order to come to the best decision, you must first take a very close look at your financial situation. Taking an honest look at your finances may be an uncomfortable task to undertake, but it is vitally important if you are to avoid making the wrong choice. Our experienced Glendale bankruptcy attorneys can assist you with evaluating your current financial situation as our lawyers will have strong insight into whether your circumstances call for filing chapter 7 or chapter 13.
A Chapter 7 Bankruptcy is a liquidation of your unsecured debts. Debts that are dischargeable in a Chapter 7 Bankruptcy are credit cards, medical bills, registration loans, personal loans, and some back taxes. You will be required to submit a petition with all of your financial information, take credit counseling courses, and attend a 341 Meeting of Creditors.
A Chapter 7 Bankruptcy is a liquidation of your unsecured debts. Debts that are dischargeable in a Chapter 7 Bankruptcy are credit cards, medical bills, registration loans, personal loans, and some back taxes. Therefore, you will be required to submit a petition with all of your financial information, take credit counseling courses, and attend a 341 Meeting of Creditors.
A Chapter 7 Bankruptcy will remain on your credit for 10 years. While it will be two years until you are eligible for FHA home loans, you can still rent and open new lines of credit until the bankruptcy is off your credit.
There are quite a few differences between Ch 7 and Ch 13. Whereas, a Chapter 13 Bankruptcy is a 3-5 year reorganization and repayment plan, while you aren’t required to repay your debts in a Chapter 7 Bankruptcy. Chapter 13 is also called a “Wage Earner’s Bankruptcy”. Chapter 7 is often referred to as a “Liquidation Bankruptcy”. As far as differences in length of the respective chapter of bankruptcy. A Chapter 7 Bankruptcy’s lifespan is months, not 3-5 years. Additionally, a Chapter 7 Bankruptcy will remain on your credit for 10 years, and a Chapter 13 for 7 years. The filing fee for a Chapter 7 is $335, and the filing fee for a Chapter 13 is $310.
There are two ways to qualify for a Chapter 7 Bankruptcy: by making less than the median income level for your family size in your state, or by showing you have no disposable monthly income through the Means Test. Only spouses and minor children will be included in your family size- not live-in partners or adult children. Contact our Arizona Chapter 7 bankruptcy lawyers for additional information.
In Glendale, Arizona, Filing a Chapter 7 Bankruptcy will immediately halt any wage garnishments, repossessions, and foreclosures you are facing. Plus, you won’t be required to repay any of your dischargeable debts. Additionally, with a Ch 7 bankruptcy your credit score may even improve upon filing. This is especially true if you have a poor credit score to begin with, and will likely raise drastically in the year after you file. Chapter 7 Bankruptcy only requires you to go to court once for a fairly short and simple hearing. This hearing is called a 341 Meeting of Creditors. Your Glendale Bankruptcy Attorney will be there with you at the hearing.
Some disadvantages of filing a Chapter 7 Bankruptcy are that it will remain on your credit for 7 years, and you won’t be able to get a home loan for 2 years. If you have a decent credit score before filing bankruptcy, it will likely decrease immediately after you file. Keep in mind, bankruptcies are public record, so while your friends and family will probably only find out if you tell them, it isn’t a guarantee.
The Automatic Stay is a very important tool in both Chapter 7 and Chapter 13 bankruptcy filings. Also, the Automatic Stay goes into effect once your bankruptcy is filed. Plus, the stay protects you against different forms of debt collection, including wage garnishment, bank liens and levies, creditor calls, repossession, and foreclosure. Lastly, the stay remains in effect until your case is discharged or dismissed. At that time, collection on non-dischargeable debts will resume, but collection on dischargeable debts will be halted permanently as they will have been discharged.
A Means Test is the best way to determine if a person qualifies to declare bankruptcy, at least regarding their earnings. The Means Test will take your and your spouse’s (if applicable) income, subtract paycheck deductions, and also subtract reasonable monthly expenses set forth by the court. Even if your income is above your state’s median level, you can file a Chapter 7 bankruptcy if the number you reach from the Means Test is low enough. You should consult an attorney to make sure you conduct your Means Test correctly.
A Chapter 13 Bankruptcy is a chapter of bankruptcy reserved for people that make too much money to file Chapter 7 Bankruptcy or people who have property that they can not protect in a Ch 7. Chapter 13 bankruptcy allows you to do a reorganization of your debts. Additionally, in a Chapter 13 you will repay a portion of your debt in a payment plan that lasts 3-5 years. Therefore, if you have any arrearages on your mortgage or other loans, a Chapter 13 Bankruptcy gives you the chance to catch up gradually.
Our Glendale Chapter 13 Bankruptcy Attorneys are very versed on Ch 13 bankruptcy plans. Also, our Ch 13 attorneys have filed thousands of successful Arizona bankruptcies. Plus, we have worked with the Chapter 13 trustees and have good report with them. Chapter 13’s can be tricky. Contact our lawyers in Glendale, AZ today.
A Chapter 13 payment plan will be determined using your income, reasonable expenses for your family size, and the amount of debt. Also, any outstanding balance on your vehicles, a fee for the trustee, your arrearages, your attorney’s fees, and a portion of your unsecured debts will be included. Contact our Glendale Chapter 13 Bankruptcy Lawyers today. We can assist you with your Ch 13 needs.
A Chapter 7 simply discharges your debts instead of requiring you to be on a payment plan. However, there are strict income and asset value requirements in a Chapter 7. If you have filed a Chapter 7 bankruptcy in the past 8 years, you are only eligible for a Chapter 13 bankruptcy.
Not everyone in Glendale, Arizona qualify for a Chapter 13 bankruptcy filing. Whereas, there are some limits on how much debt you can have to file a Chapter 13 bankruptcy. The limit for unsecured debts is $394,725. The limit for secured debts is $1,184,200. Secured debts are those attached to assets, like a mortgage or a car loan.
In a chapter 13 bankruptcy, there is a repayment plan that is determined by what a client can afford to repay. Additionally, your payment plan will be 3-5 years. Also, once your repayment plan is completed, your debts will be discharged.
A Chapter 13 bankruptcy plan is the monthly amount you will pay to your bankruptcy trustee. This payment plan repays your creditors a part of the debt that you owe. Also, your Chapter 13 bankruptcy trustee will confirm your plan before you begin payment after they analyze your income and reasonable expenses to make sure you can afford the payments. Lastly, this Ch 13 repayment plan will last 3-5 years.
In a Zero Down Bankruptcy, you will pay both your $335 court filing fee and your attorney’s fees in installments after your case is filed. Whereas, we are able to offer this $0 Down payment option through a process called bifurcation. To bifurcate your case, our Glendale bankruptcy attorneys will first file a skeleton petition (quick version of your full petition, just the “bones”) free of charge. Thus, this activates bankruptcy’s automatic stay of protection, preventing all collection efforts of creditors, including wage garnishment, bank liens and levies, and repossession.
Debts incurred after the date of filing won’t be discharged in the bankruptcy. However, you will still need to submit your full petition within 2 weeks of filing your skeleton petition. In a Zero Down Bankruptcy, you will be charged for the services completed between your skeleton petition being filed and your case being discharged. This allows us to finance your fees in a $0 Down Bankruptcy without the debt to us being discharged. Contact our Zero ($0) Down Bankruptcy Attorneys today and see if our No Money Down bankruptcy option is what is best for your current financial situation.
Zero Down Bankruptcy is beneficial to anyone who won’t be able to save up the money to pay an attorney in full before filing bankruptcy, especially those with upcoming repossessions or wage garnishments. Therefore, if your wages are being garnished, you can start paying for your bankruptcy after your creditors stop taking 25% of your paychecks.
Another benefit to our Zero Down program is credit reporting. In our program, your timely payments will be reported to the credit bureaus, helping boost your credit score after your bankruptcy is filed. This is a great way to improve your life after filing bankruptcy in Glendale, Arizona.
You get to decide what your payment plan looks like in a Zero Down Bankruptcy. In our Glendale Zero Down bankruptcy program, you will have one year after filing to pay off your balance at 0% interest. Therefore, this can be down in weekly, bi-weekly, or monthly intervals. Also, you can even choose which day of the month your payments are run, with the first payment being within 30 days of your filing date. Our Arizona Zero Down bankruptcy program was created to assist the people in Glendale and Peoria, Arizona file for bankruptcy protection.
First of all, you will need to qualify for a Chapter 7 Bankruptcy before you can qualify for our $0 down program. There are two ways to qualify.
The first is by making less than your state’s median income. You can also use the Means Test if you don’t qualify through your income level.
If your income is too high to automatically qualify, the Means Test averages your last six months of income and subtracts mandatory, court-approved payments. This calculates your disposable monthly income. If your disposable monthly income isn’t high enough to pay your debts, you will be approved for a Chapter 7.
Qualifying for our $0 down program is much simpler. Is your income $2,000 or more per month? You qualify. If you are 62 or older, you may qualify through the Silver Program. You will be able to utilize our $0 down program if your payments won’t be more than 10% of your monthly income.