The biggest deciding factor in whether or not you should file for bankruptcy is the amount of debt that you have. It is important to meet with an experienced Bankruptcy attorney so that you can take a very detailed look at your finances. A careful examination of your income, debt, expenses and assets will help determine if Chapter 7 is right for you.
What Debt Can Be Discharged in Chapter 7 Bankruptcy:
- Civil Judgments
- Credit card debt
- Medical bills
- Unsecured loans
What Type of Debt Cannot be Discharged:
- Unpaid taxes
- Child support
- Secured loans like mortgages and car payments
- Student loans
- Criminal fines
If you have enough debt to justify filing for bankruptcy then a bankruptcy attorney can help you to begin the filing process. Chapter 7 is specifically designed to help those with a lot of unsecured debt. Although bankruptcy has a negative connotation it is intended to give debtors a fresh start.
If you are knee deep in debt and struggling to make payments, contact Benjamin Skinner, Arizona’s experienced Chapter 7 bankruptcy attorney to discuss your options. (480) 648-8975