Do I Qualify for AZ Bankruptcy?
- Home /
- Do I Qualify for AZ Bankruptcy?
Many people who are suffering through serious financial problems consider filing bankruptcy in Arizona as an option for relief. While bankruptcy protection will provide an end-point in the short-term to the collection efforts that make every phone call a traumatic event and every trip to the mailbox something those with financial problems dread, new bankruptcy laws passed in 2005 have led many people to question whether they qualify for AZ bankruptcy. Overall, the best step to take if you have any questions regarding Arizona bankruptcy is to contact an Phoenix bankruptcy lawyer to obtain a specific set of answers relative to your specific financial situation. In the meantime, below is an overview of these ‘qualifications’ for bankruptcy.
Arizona Bankruptcy Qualifications
The 2005 bankruptcy law, entitled the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, put some additional steps in place for those seeking bankruptcy help as compared to what was required prior to the passage of this law. These steps/qualifications include:
- Taking a financial counseling course approved by the bankruptcy court and
- Satisfying the ‘means’ test if your income is above the median income level of your state
While the first step/qualification is simple even if critics of this law find it unnecessary, the income/means test issue can be extremely complicated.
What the AZ Bankruptcy Requirements Mean
However, despite the fact that new steps are in place, failure to meet the income requirement does not mean that you are not allowed to file for bankruptcy protection in Arizona. Instead, you will be required to file for protection under Chapter 13 instead of Chapter 7 of the United States Bankruptcy Code. There are differences between these types of filings, including the fact that you will need to make monthly payments that you can afford to your creditors for a period of time. However, the remaining debts are discharged when this schedule of payments is complete, much like a Chapter 7 filing.
Basically, those who are experiencing severe financial distress should not be concerned with ‘qualifying’ for Arizona bankruptcy protection. Instead, those in this situation should contact an experienced Phoenix bankruptcy lawyer to schedule an initial consultation so that a course can be plotted that leads to financial freedom. Contact the Phillips Law Group today to get this process started.
Free Case Evaluation
Your message has been sent
Thank you for your message, we will get back to you soon.
It’s an Honor and a Privilege to work for a company that cares about its employees and clients for 12 years. I’ve seen Management go out of their way to help someone whether it’s a personal matter or work related. I am also reminded of many occasions where a Client needed urgent help and we as a Team were able to get the person immediate assistance. At Phillips Law we make that happen through Teamwork and a dedication to our profession. I’ve had numerous jobs in several other fields, those were just jobs. This is a home. Many of us have been here for quite a few years, it feels like one large extended family.
If you are in need of legal support for a motor vehicle collision of any kind, I highly recommend going to Phillips Law Group Injury Lawyers. Sean Davis has exemplary knowledge and experience in this field, compassion for his clients, and excellent judgment and communication skills.
My paralegal , Caroline , was on top of her game - very responsive and always answered any questions I had and in a timely manner . My attorney Rob ,was the best attorney I ever had . He explained everything in great detail and had a great sense or humor . He really knows how to bring light To tough , unfortunate situations - I would absolutely recommend them at anyone -
Phillips is the best!! Love all that they do to give back to the community and how much they help those who are experiencing homelessness. ❤️
Great company and awesome service. Thanks Caroline fabos. Kudos to all.
Phillips law group is a great firm! Caroline is great.
I was recently served court documents that I was being sued from an accident that happened years ago. For someone who has never been through something like this and not familiar with the court lingo or where to even begin, it was very frustrating and stressful. I reached out to a family member who knew Tracy Laskos and the great reputation of Phillips Law Group and within the hours of the initial call for help, I had a direct number to Lead Attorney Nassar. Nassar heard my case and almost instantly put me at ease by explaining the process and how easy it was to handle. Nassar spoke to me like he was a friend, not like I was a client. I am so grateful to Tracy, Nasar and of course my cousin Stephanie for helping out and giving me the direction that I needed to get through this situation. I plan on referring my friends, family and patients that are in need of a personal injury Attorney to Phillips Law Group. Thank you!!
I would have no hesitation at all recommending Phillips Law Group. In particular, Juan Roque has impressed me with his professionalism, his integrity and his heart for the community!
Phillips Law Group has a proven track record of success. Juan Roque, in particular, is integral to that. He works with integrity, compassion, and an undefeated optimism that makes him a valuable asset.
I want to thank attorneys Tim and Robert and the paralegal Bethany for all they had done on my case. They were all empathetic, knowledgeable and professional. All my questions were answered, emails returned in a timely matter, and promises fulfilled. I recommend Phillips Law Group if you need help with your injury case.