Chapter 7 and Chapter 13 Bankruptcy
Phoenix, Arizona Bankruptcy Lawyer
Bankruptcy is a viable option for any individual, family, or business unable to recover from mounting debt. At the Law Offices of William D. Black, we are experienced in helping our personal and business clients explore their bankruptcy options to secure the debt relief they need.
If you are facing serious debt and considering bankruptcy, you may wonder:
- Is bankruptcy right for me?
- How do I restore my credit after filing bankruptcy?
- Can I protect my home, car, or retirement benefits?
- What type of bankruptcy should I file?
- What if my home is in foreclosure?
You may wish to consult our FAQ page for answers to some of these questions.
If you retain our firm we will guide you through the bankruptcy process, answering any questions or concerns that you may have. Our firm will explore and discuss all of your bankruptcy and debt relief options with you before you make any final decisions. When you are considering whether to file, we will help you determine whether bankruptcy is the right choice for you. Once we review your financial information and you make the decision to file bankruptcy, we will file the pleadings on your behalf.
Bankruptcy options include:
Chapter 7 bankruptcy:
Chapter 7 bankruptcy is often referred to as “straight” bankruptcy or “liquidation” bankruptcy. Chapter 7 is an option for any individual or family with a significant amount of unsecured debt. It gives debtor immediate release from creditor harassment and discharges debts within a few months of filing. While it may not be the best option if you have significant assets, it may also allow you to exempt assets such as a home, car, retirement or insurance.
Chapter 13 bankruptcy:
Chapter 13 is a viable option for you if you have assets you want to protect. It is otherwise known as “debt adjustment” and may allow you to negotiate settlements or payment plans with creditors, however, it does require you to plan to pay off debts or partial debt from your current income.
