Phoenix Chapter 7 Bankruptcy Attorney
Accumulating and sinking into uncontrollable debt is a situation no one wants to experience, especially when it puts your assets at risk of being liquidated to pay for it. Unfortunately, when it does happen to you, you will need to file for bankruptcy and get legal help to resolve your financial struggle accordingly. If the appropriate option for you is Chapter 7 bankruptcy, Dodge & Vega PLC guarantees to make the process as stress-free as possible.
Chapter 7 bankruptcy is a court process that deals with the payment of an individual debt through the liquidation of their non-exempt properties. If a person is approved for Chapter 7 bankruptcy, people are able to start fresh once their debts are paid completely. A trustee is selected to monitor the entire process and handle the liquidation process on behalf of the court.
If you want to file for Chapter 7 bankruptcy and need legal help in sorting the filing out process, our Phoenix Chapter 7 bankruptcy attorney can take a look at your situation and make the process seamless for you. We will make sure that you are aware of the filing procedure and that you get the best bankruptcy plan to help you reign over your debts and start anew once more.
Call Dodge & Vega PLC at (602) 737-2368 for your Free Consultation with a Phoenix Chapter 7 Bankruptcy Attorney!
Understanding the Chapter 7 Bankruptcy Process in Arizona
No matter where you are in the state of Arizona, the process of filing a Chapter 7 Bankruptcy is the same and very complex.
It is recommended that before you undertake the filing, you should get an experienced and trustworthy Phoenix Chapter 7 bankruptcy attorney to help you out, so you don’t get confused with the process.
They can also help you determine if Chapter 7 Bankruptcy is right for you.
Down below is the process of how Chapter 7 Bankruptcy will proceed if you filed in Phoenix, AZ:
1. Apply and complete the first mandatory credit counseling course.
Before you can file for Chapter 7 bankruptcy, you must complete one of two required courses which is the pre-bankruptcy credit counseling course. The course can last for 90 minutes to 2 hours, and you will receive a certificate for completion, which you need to present during your filing.
2. File the petition and all related forms.
For any type of bankruptcy filing, Chapter 7 included, there are a variety of bankruptcy forms your bankruptcy attorney will have to fill up with you. The forms often cover the financial affairs and schedules all parties need to be aware of, such as the full debt amount, the creditors involved in the filing, all the property that will be considered for liquidation, and your existing financial status.
3. File the documents in court and meet your Chapter 7 trustee.
When you file your Chapter 7 bankruptcy forms to the court, the court will assign a trustee who will review these documents and look into the properties that can be liquidated and sold to pay off your debts.
4. Attend the 341 Meeting of Creditors.
The court will order a 341 meeting of creditors after assigning a trustee to oversee the liquidation process. During this meeting, the attorney, the trustee, and the creditors will discuss what to do with the properties and how much creditors will get every month for payments.
5. Await Chapter 7 Eligibility confirmation.
After the 341 meetings, the assigned trustee will use all the information they received to determine which assets can be liquidated and whether it is worth liquidating them. They will take into account the retail value of the said asset and how well it will sell.
For secured debts, the trustee will also determine what to do with these properties. The usual options for these debts are either to give up the asset or reaffirm the debt on the asset. The second option is often done for vehicles.
6. Take the second mandatory debt education course.
Before you file for bankruptcy discharge, you need to complete the second mandatory debt education course required by the court. You will receive a certificate to reflect when you completed the course, and your attorney will add it to the filing. Once the court recognizes the completion of the course, you only need to wait for the bankruptcy discharge.
7. Receive your discharge order.
Once the steps above are completed, you will need to wait for the Chapter 7 bankruptcy discharge order from the court. A bankruptcy discharge means that you are no longer legally required to pay the debts that are discharged under the order. This is usually sent via mail and arrives at your registered address within three to six months of the filing date.
At Dodge & Vega PLC, you will be assigned to one of our Chapter 7 bankruptcy attorneys, who will be your main contact all throughout the filing process. They will also provide you with the advice you need to decide the next course of action throughout the program. We can also answer all the queries you may have about the bankruptcy filing and present to you the alternatives if Chapter 7 bankruptcy is not good for your situation.
Top-Notch Legal Services for Bankruptcy Filing
When dealing with any legal filing, filing for bankruptcy included, you may be tempted to do it yourself because it is not illegal to do. However, records show that those who file for bankruptcy without an attorney were unable to get the ideal results for their bankruptcy cases. But, those who have filed their bankruptcy with the help of an experienced Phoenix Chapter 7 bankruptcy attorney have gained huge strides in getting a bankruptcy payment plan that suits their interests.
A bankruptcy attorney can explain to you what will happen during your Chapter 7 bankruptcy and help you with the documentation needed for the filing. They will also make sure that your properties are valued fairly before it is liquidated by the court-assigned trustee and you have a good payment plan sorted out with your creditors. The attorney can also guarantee that everyone complies with the court-sanctioned payment plan and ask the court to put a creditor in contempt if they violated their side of the agreement.
Dodge & Vega PLC’s dedicated and experienced team of Phoenix Chapter 7 bankruptcy attorneys will make sure that your interests are taken into account as we handle your bankruptcy filing. We will make sure you are well-informed of the status of your filing and have all the resources needed to decide on which option works best for you. If Chapter 7 bankruptcy is not the right bankruptcy filing you should make, our legal team is ready to assist and increase your chances of getting better results for your case.
Let’s Talk – Free Consultation
Don’t let your chances of getting Chapter 7 bankruptcy be declined and end up getting a payment plan that is not tailored to your interests when you file it on your own.
Partner with our Phoenix, AZ bankruptcy law firm today, and we will make the filing process easier to understand. You will also get the resources and legal advice you need to decide the best course of action during your bankruptcy case. We look forward to helping you get back on track with your funds and be debt-free.
Call Dodge & Vega PLC at (602) 737-2368 for your Free Consultation with a Phoenix Chapter 7 Bankruptcy Attorney!