Are you thinking about chapter 7 in Chandler, AZ and feel uncertain whether it is right for you? This is quite common, because bankruptcy is after all a major decision. One of the most important things to think about when you consider bankruptcy in Arizona is what the full term actually means: Bankruptcy is known as “debt relief,” and that is precisely what it will provide you. By declaring a chapter 7 bankruptcy, you will be able to get relief from your debts and get a fresh start, debt free.
Chapter 7 bankruptcy differs from chapter 13 bankruptcy in that it is an almost total debt relief. You will be able to get almost all of your debts forgiven with chapter 7 and you will not be obligated to repay them. With chapter 13, it is more of a repayment plan in which you will be slowly repaying your creditors. Most people prefer to file chapter 7 because it doesn’t require you to repay your debts, and because it still allows you to retain most or even all of your current possessions.
Declaring chapter 7 in Chandler, AZ with a bankruptcy attorney like Asheton B. Call is a very personalized experience. Even your fee can be adjusted based upon your income, and if you need to make payments rather than paying for the entire attorney fee at one time you may arrange to do so. Your attorney will guide you through the process of the chapter 7 bankruptcy, including providing you with the proper paperwork and helping you to find the credit counseling classes that you will need to attend as dictated by federal bankruptcy laws.
Many clients are actually surprised at just how simple the process of a chapter 7 bankruptcy ends up being. As long as you have got more debt than you are able to repay and you have assets that you need to keep in order to maintain your current lifestyle, you can usually declare chapter 7 and have very little change in your life other than the major one: With a chapter 7 ruling you will finally be debt free!