Our bankruptcy attorneys serving Scottsdale and Phoenix can assist you when filing chapter 7 bankruptcy is necessary. Chapter 7 bankruptcy results in a liquidation of assets and clearing of debts. This type of bankruptcy requires that certain financial qualifications be met and may not be for everyone. The main factor that is looked at is how much disposable income will be generated by an individual, or spouses, over a 5-year period.
If you or someone you know in the Scottsdale area is overwhelmed by the burden of debt, it is highly recommended that you consult a Scottsdale bankruptcy lawyer from the Scottsdale bankruptcy law firm of My AZ Lawyers, PLLC. Our affordable bankruptcy law firm can help you figure out what your best option is based on your particular circumstances and current financial situation. As previously mentioned, you must meet certain financial criteria to qualify for Chapter 7 bankruptcy protection. If you don’t qualify for chapter 7 bankruptcy, there are other debt relief options.