Arizona Chapter 7 Bankruptcy

If you’re considering filing bankruptcy, you know it can be a confusing and overwhelming time. At The Zolman Law, PLLC we are dedicated to giving our clients the best possible legal guidance through life’s most challenging times. In this series, “Understanding Arizona Bankruptcy,” we will cover a multitude of bankruptcy facts and FAQs – but if you still have questions or concerns please don’t hesitate to contact one of our experienced Mesa bankruptcy attorneys for further guidance.

Chapter 7 Bankruptcy: When you can no longer afford to pay your bills

The Means Test

Chapter 7 offers a real fresh start for people who are unable to pay their bills due to overwhelming medical costs, car accident, job loss, divorce, or any other reason. While the standards for filing have changed since 2005, anyone who passes the IRS’s “means test” will likely still qualify.

Debts Erased

With chapter 7 bankruptcy, most debt is completely erased, including debt from credit cards, payday, and personal loans, and some tax obligations. Most people can also keep many assets and personal possessions, though what items may be kept is dictated by both state and federal law. In Arizona, debtors typically get to keep their home, car, wedding rings, retirement accounts, clothing, furniture, and other personal possessions.

Property You Can Keep

When you call our law office, one of our experienced bankruptcy attorneys can advise you on what property you will be likely to keep and what you may not. We can also advise you on how to get out of a house you can no longer afford or one that is worth less than you owe on it. And because our firm also handles complex IRS matters, we can also advise you on the tax consequences involved in leaving your home.

Contact Our Bankruptcy Attorneys

At The Zolman Law, PLLC we believe that your life shouldn’t be defined by debt. We have helped hundreds of people just like you find the relief they deserve from harassing bill collectors, paycheck garnishment, foreclosures proceedings, and – most importantly – the constant worry about money and what to do about your debts.

We are a dedicated debt relief law firm. We help people file for bankruptcy or work through tough tax problems every day. We can help stop the debt cycle and give you relief from your overwhelming, burdensome, and crushing debt. Please don’t wait another moment. Call us right away – our attorneys will help get you the fresh start you deserve.