Most of us face financial difficulty from time to time, and may even accrue “insurmountable” debt. Fortunately, there is a way to shrink that “mountain” of debt down to a manageable size – you can file for bankruptcy with the help of an experienced Phoenix, Arizona bankruptcy lawyer in Phoenix at Lerner and Rowe Law Group.
Release Your Fear & Gain Hope
Does the thought of a bankruptcy leave you numb with fear? The best way to conquer your fear is through knowledge, which is something our bankruptcy specialists have in abundance. At Lerner and Rowe Law Group, we understand that our clients’ biggest fear is a bankruptcy will leave them with nothing. This is not true. Instead, bankruptcy eliminates your debt and allows you to start fresh. You don’t have to fear losing your:
- Retirement account(s)
- Personal belongings
Types of bankruptcy: Chapter 7 and Chapter 13
There are two types of bankruptcy available to individuals and families who need a fresh financial start: Chapter 7 and Chapter 13.
Chapter 7 is the most common type of bankruptcy and is generally best for those with minimal income and large amounts of unsecured debt. Most individuals will have to give up little to nothing when they file Chapter 7. An experienced Lerner and Rowe bankruptcy lawyer will help plan your bankruptcy and protect your assets.
If you don not qualify for Chapter 7 bankruptcy, a Chapter 13 bankruptcy may be more suited to your circumstances.
With Chapter 13, you will not be required to liquidate unprotected assets. You’ll make monthly repayments to a Trustee for up to five years, at which time the remainder of the debt will likely be discharged.
Payments to a trustee can be as little as $100 a month, depending on your circumstances. Chapter 13 can pay off past due house payments to stop a foreclosure. You may even be able to strip a second mortgage off your home.
Chapter 13 bankruptcies generally repay very little to unsecured creditors. A properly planned Chapter 13 bankruptcy can be a powerful financial tool that will stop harassing creditors, and get you get back on your feet in a better financial position.
Find Relief with a Skilled Phoenix, Arizona Bankruptcy Lawyer
Let a skilled Phoenix, Arizona bankruptcy lawyer at Lerner and Rowe Law Group guide you through the process and help you protect four important assets; your home, vehicle, retirement and other personal belongings. After reviewing your circumstances, we will advise you on which type of bankruptcy — Chapter 7 or 13 — will benefit you the most.