Residents in Phoenix Arizona that are struggling to make ends meet and living paycheck to paycheck may find relief in filing for Chapter 7 bankruptcy in Phoenix Arizona with Price Law Group. While bankruptcy is not the right solution for everyone, it can be a great option for those who are unable to meet many of their financial commitments. Let us review your financial situation and help you determine if Chapter 7 bankruptcy in Phoenix is right for you.
Residents in Phoenix Arizona must qualify for Chapter 7 bankruptcy with the main qualification being that you earn less than the median income for the people in your immediate area. If you make less than the median income, you qualify for Chapter 7, however, if you make more than the median income, there is a means test that relates to your disposable income to calculate your ability to repay some of your debts.
Chapter 7 bankruptcy, otherwise known as ‘liquidation’ or ‘straight bankruptcy’ is a form of protection from creditors and relief from many of the debts that have contributed to your overall financial hardship. There are several factors for determining whether or not you qualify for Chapter 7 bankruptcy. In Chapter 7 bankruptcy, all of your unsecured debts are wiped away and you are not placed on a repayment plan.
Let Price Law Group help you take control of your financial situation and guide you through the process of filing for Chapter 7 bankruptcy in Phoenix Arizona. Our experienced Chapter 7 bankruptcy attorneys in Phoenix Arizona can help you start fresh in your financial life, give us a call today at 866-210-1722.