Millions of people deal with debt problems each day. They must decide between their daily needs and paying their debt payments. In many cases, they fall behind on their debt payments as they struggle to keep up with the necessities, such as rent, food, travel expenses, utilities, and other personal care items.
The good news is that there is hope. At the 602 Law Group, our Glendale debt problems attorneys can help you explore debt relief options that can get rid of your debts to give you the opportunity to get back on your feet financially. Through a bankruptcy case, you can eliminate debts you cannot afford to pay, and receive a fresh start to recover and rebuild after a financial hardship that was beyond your control.
Why Do People in Glendale File a Bankruptcy Case?
People struggle financially for many reasons. Many of the reasons that bring people to a bankruptcy attorney in Glendale are situations that they could not control. Examples of situations that might create a financial hardship that requires bankruptcy assistance to overcome include, but are not limited to:
- Divorce or legal separation
- Unemployment or reduction in income
- Death of a family member
- Failed business ventures
- Disability, accidental injury, or sudden illness
- Overuse of credit cards or other lines of credit
In some cases, a person may need bankruptcy relief because the person did not manage their debt successfully or failed to manage their personal finances. In that case, a Glendale bankruptcy attorney at 602 Law Group can offer the informed legal advice you need.
Bankruptcy law is available to these individuals in the same way it is available to an individual who is suddenly disabled or unemployed. Everyone can make a mistake with their finances. Bankruptcy allows a person to correct that mistake and move forward.
What Types of Debts Can I Get Rid of By Filing a Bankruptcy Case?
Some debts are not eligible for a bankruptcy discharge (debt forgiveness). However, most debts are dischargeable in both Chapter 7 and Chapter 13 of the Bankruptcy Code.
Examples of debts that you can get rid of by filing bankruptcy include:
- Credit card bills
- Medical debts
- Personal loans
- Some old tax debts
- Most judgment liens
- Old utility bills
- Old lease and rent payments
Restitution, student loans, alimony, child support, and personal judgments related to DUI accidents are examples of debts that are not forgiven in bankruptcy. However, if you owe these debts, you may want to consider a Chapter 13 bankruptcy case.
Through a Chapter 13 case, you can repay non-dischargeable debts over a five-year bankruptcy repayment plan. You can also save your home from foreclosure and stop the repossession of your vehicle in Chapter 13. If you have a steady income and need help reorganizing your debts, talk to our Glendale Chapter 13 bankruptcy lawyer.
What If I Cannot Afford To Repay My Debts?
If you meet the income requirements for a Chapter 7 bankruptcy case, you might be able to get rid of your unsecured debts in as little as four to six months. Our Glendale Chapter 7 bankruptcy lawyer reviews your finances to determine if you qualify for a discharge under Chapter 7. We also carefully analyze the Arizona bankruptcy exemptions to determine if any of your property might be at risk of being sold at a bankruptcy auction.
Most Chapter 7 cases filed in Arizona do not result in the loss of property. They do result in the elimination of debts that the person cannot afford to repay.
Contact Our Glendale Bankruptcy Attorneys for More Information
If you are struggling with debts you cannot pay, take control of your finances with the help of the bankruptcy system. Don’t spend any more sleepless nights worrying about debts.
Contact the Phoenix bankruptcy attorney at 602 Law Group by calling 602-562-5000 to schedule a free consultation for the specialized local legal advice your case deserves.