There are three common events that cause people to file for bankruptcy in Tempe, AZ. These include:
If you find yourself experiencing these problems, you are not alone. There are many ways that even the most prepared Tempe resident can find themselves in, what seems to be, an insurmountable financial challenge. There are many causes, but there are also many ways to get out of these situations. For many, there is a lot at stake including your property, your business, and your future. During times like these, you need to speak to a bankruptcy attorney to help you determine which chapter to file.
Should I File For Bankruptcy in Tempe?
We can help you solve your debt problems and get you on a healthy financial path. At the Zolman Law, we offer bankruptcy services and debt reduction plans under Chapter 7, Chapter 13 and Chapter 11 of the US Bankruptcy Code for all Tempe residents. Each chapter is a type of case that offers specific procedures, rules, and relief from debt.
There are times when people go through difficulties in their financial lives. They often wonder if they are in such bad shape that they need a bankruptcy attorney. Are you unsure if your situation requires filing for bankruptcy? The best thing to do is speak to an Arizona bankruptcy attorney to receive a professional evaluation. With their qualified experience, you can find out more about your debt relief options.
Credit card debt: If you carry high credit card balances and are at a point where paying the balance is unrealistic, this is a sign that bankruptcy could be a potential option for you. Credit card debt is usually unsecured debt meaning that in Chapter 7 proceeding it can be discharged and, once your proceeding has concluded, your debts could be eliminated completely.
Medical debt: Statistics are showing that medical debt is surpassing credit card debt as one of the leading reasons people in the United States file bankruptcy. Anyone who has a large sum of unsecured medical bill debt should consider a Chapter 7 or a Chapter 13 filing. These filings could be of substantial help and may enable you to lighten your load financially and give you that fresh start that you need.
Borrowing from retirement accounts: Have you been borrowing against your 401 k or your IRA? Sometimes borrowing from a retirement account is the first sign that you are getting overwhelmed financially. It can be a bad idea to borrow your retirement money to pay off debts that are dischargeable.
Foreclosure or repossession: Are you on the brink of losing your home to foreclosure? Have you fallen behind on your car payments and worried it will get repossessed? Call our Chandler bankruptcy lawyers now to discuss your options. Even if it is the last minute, there are emergency filings your attorney can do for you to stop a foreclosure action or a repossession from occurring. These are valuable assets and you can prevent your property loss.
Creditor Harassment: Often the greatest sign of financial trouble is when creditors start calling throughout the day. They can leave threatening messages or try to intimidate you into paying them money that is owed to them. If you are in bad financial shape, any money you have is likely going to the bare bones expenses of food and utilities. Stop feeling intimidated and get your finances back together by talking with an attorney about filing the right type of bankruptcy to stop collection activity right now.
Wage garnishment: If you have already started to lose part of your paycheck to debts that you owe, you are already facing trouble. You might get yourself further into a hole because you are now losing out on money you could be saving for your future.
Poor credit: Some people think bankruptcy will destroy their credit. Your credit will get hit temporarily but immediately after filing you will begin to rebuild your financial life. Your credit score will go up over time if you make responsible financial decisions moving forward.
Begin making smart financial decisions now. Speak with a Tempe bankruptcy attorney now to get on the path to recovery.
If you live in Chandler Arizona we recommend that you contact us to schedule a time to meet with one of our lawyers.