How Fast Does Bankruptcy Work?
Stop Creditor Abuse, Foreclosure and Garnishments Instantly
The minute you file either a Chapter 7 or Chapter 13 Petition for Bankruptcy, an automatic bankruptcy stay order will put an end to all contact with your creditors. They are not allowed to write you, contact you, or harass you in any way.
Creditors who violate the stay order may be sanctioned by the court.
The stay order in a Chapter 7 & 13 bankruptcy puts a freeze on:
- Wage garnishment
- Collection actions
- Creditor abuse and contact
- Vehicle seizures and repossessions
- Most types of lawsuits
- Home foreclosures
Chapter 7 Liquidation Bankruptcies Eliminate Debt Fast
Chapter 7 bankruptcy, is a straightforward process that discharges debt in less than six months.
If we file a Chapter 7 bankruptcy on your behalf, you will usually be required to attend only one meeting. This meeting occurs about 40 days after the Petition is filed. It is called a 341 meeting of creditors. Many times, your creditors fail to make an appearance.
During the meeting, you will take a simple oath and answer a few questions about your debts and finances. The meeting is in a hearing room and is heard in front of a trustee. The meeting is NOT held in front of a judge.
Under most circumstances, you don’t have to attend any other meetings.
At the end of the Chapter 7 bankruptcy process, your unsecured debts will discharged – this means that they are wiped away. You are no longer legally liable to pay the debts.
A fresh financial future awaits you within the space of six months.
Chapter 13 Procedures are Over Quickly
Although a Chapter 13 repayment plan remains open from between 36 to 60 months, after the judge reviews and approves it, most of the fancy procedural stuff ends there. You must pay the court a fixed amount each month under a court-approved reorganization plan.
After you complete your payments at the end of the plan, a hearing will be set to discharge any remaining debts.
Efficiency and Superb Service
Our attorneys are well-respected throughout Tucson. They work hard to offer you effective solutions to debt problems. Call the Vidrine Law Firm, PLC, today to start the bankruptcy process. We provide a free initial consultation.
We streamline the bankruptcy process so that you can get on with your life quickly. Call for information about a Chapter 13 Bankruptcy in Arizona. Call now 520.885.1106.
