Chapter 7 Bankruptcy – Bankruptcy Lawyer in Scottsdale

At Ariano & Associates, PLLC, our Scottsdale bankruptcy attorneys have helped numerous Arizona residents file for Chapter 7 bankruptcy, and discharge most, if not all, of their debt.  Chapter 7 bankruptcy may not be the best option for everyone, and not everyone may qualify.  So, how do you know if Chapter 7 bankruptcy is right for you?  The information below should help you determine if Chapter 7 bankruptcy is something you should consider.  After reading this page, it is highly recommended that you consult with an experienced Chapter 7 bankruptcy attorney to ensure you fully understand the process and to determine if Chapter 7 bankruptcy is a good option for you to discharge your debt.

What Is Chapter 7 Bankruptcy?

Chapter 7 of the United States Bankruptcy Code outlines what the laws, rules and procedures are for filing for Chapter 7 bankruptcy.  Chapter 7 bankruptcy is also known as “straight” or “liquidation” bankruptcy because the goal is to eliminate as much debt as possible.  This is often accomplished by selling some of your qualifying assets, if any, using the proceeds to pay off your debt.  However, some assets are exempt from Chapter 7 bankruptcy, and you may be able to keep your home, your car, or some other exempt property, depending on your individual circumstances.

Once you file for Chapter 7 bankruptcy, an impartial trustee will be appointed to manage your financial affairs to ensure your debt is discharged in the most efficient way possible.  As part of the Chapter 7 bankruptcy process, you will be required to complete credit counseling with an approved agency.  You will also have to complete a number of forms regarding your income, property and other assets. These are forms that the Scottsdale bankruptcy attorneys of Ariano & Associates, PLLC can complete for you, and review them with you to ensure they are accurate.

Chapter 7 bankruptcy is a rather quick process, and this makes it attractive to many individuals considering bankruptcy as an option to discharge their debt.  The entire Chapter 7 bankruptcy process could take anywhere from four to six months, however, depending upon your unique circumstances, the entire process may take longer for some people, and may be much quicker for others.  Having a quick bankruptcy helps Arizona residents start fresh right away and learn to live a debt-free life. Call now to speak directly with a bankruptcy lawyer in Scottsdale.

Many people are concerned with how much Chapter 7 bankruptcy will cost them.  The filing fees associated with filing for Chapter 7 bankruptcy typically cost no more than a few hundred dollars.  While this is a significant amount of money for most people, the ability to discharge most if not all of your debt and the feeling of accomplishment is well-worth the cost, especially because the Phoenix bankruptcy attorneys of Ariano & Associates, PLLC provide affordable consumer bankruptcy services.

While Chapter 7 bankruptcy allows many individuals to discharge their debt in a relatively short period of time, not everyone qualifies for Chapter 7 bankruptcy.  It is important to discuss your options with one of our bankruptcy attorneys, as it is often difficult to determine if you qualify simply from reading information you find on the internet.  Even if you do not qualify for Chapter 7 bankruptcy, the bankruptcy attorneys of Ariano & Associates, PLLC will help you find debt-elimination options that will work for you.

Contact the Phoenix and Tucson Bankruptcy Attorneys of Ariano & Associates, PLLC Today

If you believe that a Chapter 7 bankruptcy is the right choice for you, you should speak with the Phoenix and Tucson bankruptcy attorneys of Ariano & Associates, PLLC as soon as possible.  It is better to manage and take care of your debt right away so that you can begin to rebuild your credit after the bankruptcy process.  Chapter 7 bankruptcy can be stressful and difficult without the help of a qualified Chapter 7 bankruptcy attorney by your side.  Our attorneys will handle the process for you from start to finish.  We are available 24/7 to answer your questions and address your concerns.