Arizona Bankruptcy Cases
Chapter 7, 11 and 13 Bankruptcy Cases filed in the Bullhead City, Flagstaff, Phoenix, Tucson and Yuma Divisions
Recent Bankruptcy Cases
When you file bankruptcy in Arizona, you will have to answer a series of questions. These questions are called the "means test." The means test is used to determine whether or not you qualify for Chapter 7 Bankruptcy in Arizona. If you do not qualify for Chapter 7 Bankruptcy in Arizona, then you will be required to file a Chapter 13 Bankruptcy in Arizona.
In Filing a Chapter 7 Bankruptcy in Arizona, your debts are discharged and the creditors cannot pursue you for any debt that was discharged. However, if there is money left over after all of your debts are paid off, then it is distributed to your creditors.
If you are considering filing bankruptcy in Arizona, then you should be aware that there are many different types of bankruptcies. If you have a lot of debt and not much income, then a Chapter 7 Bankruptcy in Arizona may be the best option for you. If your income is high enough to pay some or all of your debts, then a Chapter 13 Bankruptcy in Arizona may be the best option for you. In Filing Bankruptcy in Arizona, if it is determined that the debtor has committed fraud on creditors by lying about assets or otherwise misrepresenting his financial situation, he can face criminal charges and jail time as well as having his bankruptcy case dismissed.
The law requires that every person who files bankruptcy must complete a course on personal financial management within 180 days after filing their petition with the court. Failure to do so will result in dismissal of their case by the court without prejudice (meaning they can refile). This requirement applies to all cases filed under Chapters 7 and 13 of Title 11 (bankruptcy) except for those whose debts are primarily consumer debts such as credit cards or medical bills which have been discharged under chapter 7 or 11 before completion of this course. The person filing bankruptcy must take this course at an approved debtor education agency. This class helps people avoid making mistakes that could hurt their chances for success with their case such as failing to list all creditors or failing to file required documents with the court on time.