ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

When to Call an Arizona Bankruptcy Lawyer

Updated on February 10, 2015

If you are in serious financial trouble and are laden with debts you cannot pay, there seems to be no end to your problems. However, there is an escape route in the form of bankruptcy, but in order to benefit from the fresh start this can bring, you’ll need the help of a knowledgeable bankruptcy lawyer. In the state of Arizona, there are three main forms of bankruptcy; read on for a brief overview of each to determine if you are a candidate.

Chapter 7 Bankruptcy

This is the most commonly filed form of bankruptcy and is the option chosen by individuals looking to leave their debt troubles behind. It is also known as liquidation, because you need to sell resources that are not exempt and give the proceeds to your creditors. One of the main reasons why people (and businesses) file Chapter 7 bankruptcy is to ensure certain assets are protected.

Chapter 7 bankruptcy is not ideal for businesses but is a realistic option for individuals with significant debts. You need the help of an attorney to evaluate your debt, expenses, assets, and income. The size of the debt is not as important as your ability (or inability) to repay it.

You should get in touch with an Arizona bankruptcy lawyer if the majority of your debts are medical expenses, credit card debts, and unsecured loans. These forms of debt are dischargeable, which means a Chapter 7 bankruptcy helps you restart with a clean slate. If your debts are mainly child support, alimony, student loans, secured loans, or unpaid taxes, Chapter 7 is not ideal, as the above debts are not dischargeable.

Chapter 11 Bankruptcy

You need the help of a reputable bankruptcy attorney if you own a business that’s in need of reorganization but is deep in debt. Chapter 11 involves restructuring the debt and creating a new repayment plan. It is also possible for certain assets to be forfeited, with the proceeds given to your creditors.

While Chapter 11 allows businesses to continue operating after filing for bankruptcy (unlike Chapter 7, which requires liquidation), your assets are treated differently depending on the business entity. This means you need an Arizona bankruptcy lawyer to help navigate the ensuing maze.

Chapter 13 Bankruptcy

This is a different form of bankruptcy than Chapter 7, as it involves you paying some or even all of your debt via a restructuring plan that offers you better terms, such as lower interest. You need to have a regular income to be eligible for Chapter 13, and repayment normally begins within 30 days of filing. You can expect to receive three to five years in which to repay the debt; it is a viable choice for those looking to avoid actions such as home foreclosure and repossession.

Start Fresh

If you are in debt and are looking for a way to start fresh, get in touch with a team of specialists, like the Gilbert, Arizona, bankruptcy lawyers at Cholewka Law. Such firms consist of attorneys with years of experience when it comes to Chapter 7, Chapter 11, and Chapter 13 bankruptcies in the state of Arizona.


Submit a Comment

No comments yet.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)