Many people are seeking debt relief but are unable to find it because they have gotten in over their heads. Whether due to poor financial decisions, the loss of a job or an injury or illness, debt can be overwhelming. When a person is drowning in the debt they owe, it is time they contacted a bankruptcy attorney in Glendale, AZ. A bankruptcy attorney can assist a person in better understanding their rights and options so they can make a sound choice in overcoming their debt.

The bankruptcy attorney in Glendale, AZ will need a person to bring in some information to help to determine the best type of bankruptcy to file. Wage statements, bills and information on the assets owned can all prove helpful in assisting the attorney.

The attorney will offer a couple of different options for bankruptcy, based on the information provided. Chapter 7 bankruptcy may be a viable option for those with mostly unsecured debts. This bankruptcy typically settles quickly as long as the applicant successfully passes the means test. There are some people that will have property liquidated to pay their debts while others may have their debts absolved by a court-appointed trustee.

Applicants also have the option of filing for chapter 13 bankruptcy. While there are no income requirements, there are limits placed on the amount of debt that can be filed. People who file chapter 13 are allowed to reorganize their debts and pay off nondischargeable debts through a repayment plan that is structured by the court. This type of bankruptcy can stop all collection activity such as foreclosure and repossession. Debtors are given three to five years to pay off their debt depending on several factors, like how much they owe.

The type of bankruptcy that is most beneficial is different for each person. Working with an attorney can allow a person the legal guidance they need in pursuing bankruptcy so they can be legally free of their debt. Click here to visit right away and learn more about the options for filing bankruptcy so you can determine which will be the most beneficial option.

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