When your financial commitments are too hard to repay it may be time to consider filing for Chapter 7 bankruptcy in Phoenix Arizona. Price Law Group has Arizona bankruptcy attorneys across the state and we can review your financial situation to help determine if you are a good candidate for Chapter 7 bankruptcy in Phoenix. Speak with our Chapter 7 Phoenix bankruptcy attorneys today for more information by calling 866-210-1722.
Chapter 7 bankruptcy, otherwise known as ‘liquidation’ or ‘straight bankruptcy’ is a form of protection from creditors that offers you 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.
The first means test as to whether or not you qualify for Chapter 7 is your income level. Phoenix residents must make less than the median income in your specific area. If you make more than the median income in your area, we can help you determine your disposable income to see if you are still eligible for Chapter 7 bankruptcy in Phoenix.
Your disposable income is calculated over a 5 year period to see how much money is available to repay your debts, less monies that are reserved for rent, utilities, and money owed on items not in the bankruptcy. If this amount is less than $10,000 you are eligible for Chapter 7 bankruptcy in Phoenix Arizona.
Start the filing process for Phoenix Chapter 7 bankruptcy with Price Law Group. Let us work with you one on one and review your financial situation to see what the best options are to help you take control of your financial future. Reach us today for more information at 866-210-1722.