If you are considering filing for chapter 13 bankruptcy in Scottsdale, Arizona, our Scottsdale bankruptcy lawyers may be of great assistance. Do you have a regular income but are experiencing severe debt problems? If so, chapter 13 bankruptcy might be the debt relief solution that you seek. Seek out the guidance of a chapter 13 bankruptcy attorney to find out if your particular situation may be right for debt relief protection of filing chapter 13 bankruptcy in Scottsdale, Arizona.
Bankruptcy filing rates in Scottsdale and throughout Maricopa County are on the rise. The 2 most common types of bankruptcy filed under federal law are chapter 7 and chapter 13 bankruptcy. If you are eligible for a Chapter 13, your unsecured debts, (such as credit card debt), are combined. A chapter 13 payment plan is created based on your disposable income. You don’t have to worry about this plan as you will still have enough money left over to make payments on secured debt, such as house and vehicle payments. Chapter 13 permits you to adjust your debts, retain your assets and pay off the money you owe, normally over a 3 to 5 year period.
There are several differences between Chapter 7 and Chapter 13 bankruptcy. If you are considering bankruptcy as a means to get out of debt, consult with an experienced Arizona bankruptcy law attorney. We can help you determine the chapter and best debt-relief action to take for your specific debt and case.