Gilbert Chapter 7 Bankruptcy Lawyer
If you just began to research bankruptcy options in Arizona, you may be surprised to learn about the different choices associated with this form of debt relief. A Gilbert Chapter 7 bankruptcy lawyer can help clear away any confusion so that you learn what kind of bankruptcy is best for you and how to help you qualify.
Call 602-667-7777, fill out this FREE online form, or use LiveChat to connect with us today. One of our professional, live representatives will help you schedule your completely free initial case evaluation and consultation.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is also called liquidation bankruptcy because it uses the value of your non-exempt (i.e.. unprotected) assets to pay off outstanding debts.
At Lerner and Rowe Law Group, our legal team has years of experience navigating chapter 7 bankruptcy against Arizona law, helping hundreds of clients like you through the filing process and after
Should I Hire a Gilbert Chapter 7 Bankruptcy Lawyer?
You should certainly hire an attorney when filing chapter 7 bankruptcy in Gilbert, AZ. We may be able to help you maximize your possible exemptions. For instance, possible exemptions in Arizona are:
- Pension funds
- One vehicle (up to $15,600 in equity or $26,000 if you are disabled)
- Household furnishings (valued at $15,600 for an individual or $31,200 for a couple)
- Retirement funds
- A primary residence (up to $400,000 equity)
- Wedding and engagement rings (up to $2,000 for an individual or $4,000 for a couple)
- 401Ks
- IRAs
Seek an attorney for your best chance at retaining these assets. But this isn’t all we do. We also help you understand what bankruptcy you qualify for and help you through the process. After all, back in 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) made it more difficult to qualify for chapter 7 liquidations.
Arizona Means Test
In Arizona, an individual must have annualized income based on a six month window that is less than an amount specified by the United States Census Bureau or passing a Means Test. An individual can have annualized income of not more than $66,340 or, if the individual’s annualized income is more than $66,340, then the individual must pass a Means Test. A family of four can have annualized income of not more than $107,944 or, if the family of fours annualized income is more than $107,944, then the family must pass a Means Test. (The amounts listed in this paragraph were valid as of April 2, 2024, and are subject to change). The filing party must have also lived in AZ for at least 91 of the preceding 180 days, and have already completed a credit counseling course to file in Arizona. If you don’t take this course within 180 days of filing, your request may be denied.
What Debts Can a Gilbert Bankruptcy Attorney Help Discharge?
With Gilbert bankruptcy help from Lerner and Rowe Law Group on your side, you may be able to discharge these debts:
- Car loans
- Payday loans
- Utility bills
- Credit card debt
- Broken lease debt
- Civil judgements
- Personal loans
- Title loans
- Unsecured loans
However, you cannot discharge child support, restitution payments for personal injury or crime, alimony, the majority of student loans, court-ordered fines, court-ordered penalties, and most tax debt.
Can I File for Bankruptcy with Medical Bills in Gilbert, AZ?
Yes, medical bills might be discharged via bankruptcy in Arizona, as long as you qualify. It works just like other eligible debts. In fact, you can file for bankruptcy, even if your only debts are from medical bills.
What Are the Benefits of Filing Chapter 7 Bankruptcy in Gilbert?
There are many benefits to filing chapter 7 bankruptcy with a Gilbert, AZ debt relief attorney.
But, the most immediate is the automatic stay. It halts:
- Wage garnishments.
- Creditor and collection calls.
- Repossessions.
- Foreclosures.
- Liens.
Imagine never receiving another creditor call. This automatic stay will provide relief to those struggling to pay off their debt.
What Happens After I File for Chapter 7 Bankruptcy in Gilbert?
There are three major events that will happen following a successful bankruptcy filing in Gilbert. First, immediately after filing, the automatic stay will go into effect.
Second, about a month after filing, you will have a Meeting of Creditors meeting with a bankruptcy trustee and creditors. But don’t worry – you will not have to face this meeting on your own. Your attorney from Lerner and Rowe Law Group will also attend. And, it’s not uncommon that no creditors show up at all.
Finally, you will need to complete a second class known as financial management or debtor education to receive a discharge of your unsecured debts and take advantage of your fresh financial start.
How Much Does a Chapter 7 Bankruptcy Cost in Gilbert?
When filing for chapter 7 bankruptcy in Gilbert, you will have to pay a filing fee of $338. And, when you work with Lerner and Rowe Law Group, you will be able to handle any lawyer fees through an affordable payment plan.
Choose a Gilbert Bankruptcy Lawyer With Free Consultation and MORE
At Lerner and Rowe Law Group, we offer free consultations with our award-winning bankruptcy team. We have helped thousands of people filing chapter 7 bankruptcy in Arizona reach the best possible outcome. And, we’ve collected hundreds of five star reviews from our satisfied clients.
File for Chapter 7 Bankruptcy in Gilbert with Lerner and Rowe Law Group
If you’re searching for an East Valley chapter 7 bankruptcy lawyer to assist you through the filing process, call 602-667-7777, fill out this FREE online form, or use LiveChat to connect right away. The sooner you do, the sooner you can enjoy the benefits of the automatic stay and hopefully a new outlook on your financial future.