Arizona Chapter 13 Bankruptcy Lawyer

Generally, people file for Chapter 13 bankruptcy when they are unable to qualify for Chapter 7. However, an Arizona Chapter 13 bankruptcy lawyer will argue that there are other compelling reasons to choose Chapter 13 instead of Chapter 7, including:

  • Paying off substantial tax liability or child support payments with little or no interest
  • Protecting assets that would have been liquidated in a Chapter 7 bankruptcy

The process in a Chapter 13 bankruptcy typically involves the creation of a plan to pay unsecured creditors an amount deemed affordable over the course of three to five years. If you continue to pay your pre-determined amount of debt to a Trustee for the duration of the agreed-upon plan, the amount of unsecured debt not paid off will be eliminated.

Some of the other advantages of filing Chapter 13 include:

Eliminating second and third home mortgages.

An Arizona Chapter 13 bankruptcy lawyer can tell you that if your home’s value is less than what you owe on your first mortgage, you might be able to eliminate your second and third mortgages and/or home equity loans.

Restructuring past due amounts on home mortgages.

With proper planning, you might be able to protect your home against foreclosure by making payments on past due amounts more manageable over the course of several years.

Restructuring car payments.

Many people owe considerably more on their car than what it is actually worth. If you purchased your vehicle more than 910 days before filing for Chapter 13 bankruptcy, it may be possible to save thousands of dollars by repaying only the vehicle’s fair market value, not the full amount owed on it. In addition, the interest rate paid to the vehicle’s lenders can be lowered through a Chapter 13 Plan, thanks to the In re Till case.

Contact Kamper Estrada, LLP Arizona Chapter 13 bankruptcy lawyers to learn if filing Chapter 13 is the best choice for your particular situation. If so, we will handle every aspect of the process efficiently and with the personal attention you deserve.