Arizona Bankruptcy Aid December 27, 2009
After careful inspection of your debts, bils, and financial standing, you may have determined that bankruptcy is the most sound alternative for you at this point. Nevertheless, you may still want the help of licensed Arizona bankruptcy attorneys when it comes to determining which chapter of bankruptcy to file, and how to work out payment schedules with your creditors. Here are some things you can do yourself to make the bankruptcy process as stress-free as possible.
First, you may be astonished to know that you can file for bankruptcy totally on your own, without having to hire an Arizona bankruptcy lawyer. After all, you will have to pay the attorney a fee for services, and if you’re filing for bankruptcy, you’re most likely searching for means to save the money you have as much as possible. Bankruptcy lawyers fee can be up to $1,000 or more if a lawyer files for you, so you may want to get the court forms needed for the procedure, fill them out yourself, and send them to the appropriate bankruptcy court (located in Yuma, Phoenix and Tucson).
In order to really get help with bankruptcy in Arizona, you have to know what is causing you to be in debt. It may be one situation that has become very costly, such as a surgery or unexpected accident that required medical care. Or, the decision for bankruptcy could come from months or years of using credit cards to their limit, and only paying the minimal balance. The grounds of your bankruptcy will help you to take a good look at your spending habits, so that you won’t have to file a second time. Even though filing more than once is permitted in most cases (especially if you file under a different chapter), it will reflect poorly on your credit score, and could keep you from being approved for car or house loans in the future.
Organizing your money, and searching all feasible means to pay off your debt will also help with bankruptcy. For example, if you’re filing Chapter 13, it means that you already have full-time employment, and can send payments to your creditors on a monthly or bi-monthly basis. If you own your business, you may want to consider Chapter 11 bankruptcy, and if you own valuable property that you can sell in order to have the money to pay your debts, Chapter 7 bankruptcy may be for you.
Most parts of the new bankruptcy law are governed by federal statute, and all Arizona attorneys are required to follow the process. Nonetheless, certain exemptions follow individual state guidelines and an Arizona bankruptcy lawyer can help determine if all the guidelines are met prior to filing. If any part of the court filing is found to be in error, the full case can be dismissed and creditors can then collect the amount owed to them.
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