Tucson Chapter 7 Bankruptcy Attorney
Talk with a lawyer today to learn about the benefits of Chapter 7
You’ve worked hard all your life and have paid your bills on time. But suddenly you find yourself mired in debt through no fault of your own. A serious health concern, a divorce or a work shortage has pushed you to the financial brink.
You don’t have to suffer through economic uncertainty. By filing a Chapter 7 bankruptcy, you can have more disposable income for the basic necessities of life. Your unsecured debt is legally erased without any obligation to pay it back. From the moment your attorney files your Petition, your creditors are barred from calling you or collecting on your debts.
By filing Chapter 7, you can:
- Say goodbye to credit card debt
- Eliminate outstanding medical bills
- Stop money judgments from certain law suits
- Keep your car and house if you are up-to-date with your payments
- End the threat of repossession, foreclosure and wage garnishment
- Extinguish certain types of income tax debts
Exempt Assets
In a Chapter 7 bankruptcy, you are not required to sell or give up exempt assets. You may keep your home, personal property, furnishings and your car, as long as their values remain under certain monetary limits. Arizona is generous in that it provides unlimited exemptions for most pensions, retirement accounts, public benefits, and insurance proceeds, without any monetary ceiling.
You must live in Arizona for at least two years to obtain applicable state exemptions. An experienced Tucson Chapter 7 bankruptcy lawyer at our firm can explain what exemptions you are entitled to, and how these exemptions can protect you and your assets in a bankruptcy case.
Arizona exemptions pertaining to your home or automobile:
- $5,000 in equity for automobile exemptions
- $150,000 in equity for homestead exemptions
Qualifying for Arizona Chapter 7 Bankruptcy
To qualify, current laws require you to pass what is known as the “Means Test.” Its primary purpose is to determine whether or not a debtor has enough disposable income to pay some of his debts.
An experienced Tucson Chapter 7 lawyer will review your income for the past six months and compare it to the median income for a family your size in Arizona. If your monthly income is less than “family median income” in the state, then you probably qualify for Chapter 7 bankruptcy.
Our attorneys are cognizant of the financial and emotional strain you are going through. They will make the qualification process as comfortable for you as possible. They can advise you of your eligibility for Chapter 7, or recommend that you file for Chapter 13 bankruptcy instead. They may make other recommendations to you that do not involve bankruptcy.
Chapter 7 Bankruptcy Timeline
From the initial filing of the Petition, it takes about 4-6 months to go through and for the court to discharge and write off your debts.
Heightened Standard of Care
At Vidrine Law Firm, PLC, we adhere to a heightened standard of care in terms of legal representation, in the preparation of complex legal documents, and in finding you the best possible solution for a favorable outcome.
A fresh start is available to you now. Call us at 520.885.1106 for a free consultation. A Qualified Tucson Chapter 7 attorney is waiting to speak with you.
