Phoenix Debt Relief Attorney
At the Wright Law Offices, we understand that most people wish to pay off their debt. However, sometimes they simply can't. Several factors are considered when someone files for Chapter 7 bankruptcy; the best way to find out if you are eligible is to speak with an experienced bankruptcy lawyer.
Contact a Phoenix Chapter 7 bankruptcy attorney to learn more about how to qualify and to find out about your debt relief options. Call 480-269-9707 to request a free initial consultation with a knowledgeable attorney.
Who Can File for Chapter 7 Bankruptcy?
Whether or not you can file for Chapter 7 bankruptcy hinges on several factors. When you meet with us, attorney Ben Wright will review your income over the past six months to determine if you are above or below the median income level in Phoenix, Arizona.
Your current expenses, including your mortgage, utility payments and other loan payments, also will be considered. If you are under the median threshold amount or your expenses are higher than your income on a monthly basis, you may qualify for Chapter 7. If not, you may still qualify for Chapter 13 bankruptcy.
Visit our Chapter 7 Bankruptcy Information Center to learn more about Chapter 7.
Discharge Your Debt With Chapter 7
Chapter 7 bankruptcy allows you to discharge all of your unsecured debt, typically within four to five months of filing. Immediately following a bankruptcy filing, an automatic stay will go into effect that requires creditors to stop all collections activities, including foreclosure, wage garnishment and repossession. Examples of unsecured debt include:
- Credit cards
- Medical bills
- Certain taxes
- Judgments
- Deficiency balances
Bankruptcy and Your Credit
One of the first things clients typically ask us is, "How will bankruptcy affect my credit?" In most cases, we observe credit scores increasing within one year of filing bankruptcy. Our lawyers can explain more about Chapter 7 bankruptcy and your credit.
Contact a Scottsdale Debt Relief Lawyer
Contact the Wright Law offices online or call 480-269-9707 for a free consultation with a Phoenix Chapter 7 bankruptcy lawyer.
