Many people have misconceptions about filing for bankruptcy protection. As a Scottsdale bankruptcy lawyer, my most important jobs involve clearing up these misconceptions and providing quality legal advice to those residents of Scottsdale considering filing for bankruptcy protection.
Chapter 7 bankruptcy is a 6 month process that involves the elimination of most credit card and other debt, while keeping any property deemed exempt by the bankruptcy court. Chapter 7 bankruptcy is limited to those debtors that qualify for bankruptcy under the chapter 7 means test. Those with limited income should be able to file under chapter 7 of the bankruptcy code.
It is important to understand that chapter 7 bankruptcy eliminates most, but not all, of your debt, Certain tax debts, custody and support payments, and many student loans will not be eliminated in bankruptcy. Fortunately, filing for bankruptcy will likely improve your financial portfolio so that you can pay these debts.
If you are considering filing for bankruptcy protection, it is wise to speak with an experienced bankruptcy lawyer about your case. The attorneys at Ariano & Reppucci, PLLC are some of the best bankruptcy lawyers in Arizona, and offer free consultations to discuss your case.
