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A debt lawyer Phoenix, AZ offers knows that there are plenty of people and companies who will claim to have the answers to your problems if you are trying to resolve serious debt or need to repair your credit score. But remember the old adage: if something sounds too good to be true, it probably is.

Unfortunately, it can be challenging to compare legitimate bankruptcy and debt lawyers in Phoenix, Arizona, and “debt settlement companies” and “credit repair agencies” at first glance. Many illegitimate businesses offer highly misleading services or operate as outright scams. Too many clients only seek the guidance of trusted Phoenix, Arizona debt lawyers after their financial problems have been made worse by these dishonest middlemen. Know that when you work with a member of the Kamper & Estrada, PLLC team, you’re working with a debt lawyer Phoenix, AZ residents trust. Why is our team so trustworthy? We are qualified, highly-experienced, licensed, and we don’t protect our bottom line at the expense of our clients’ best interests. If you have questions about your debt-relief options, consider speaking to a trustworthy Phoenix, AZ debt lawyer at our firm today. 

What To Know About Debt Settlement Services

To be sure, debt settlement through negotiation can be a legitimate way to settle debts for less than their full value. However, many companies that offer this service typically overpromise and underdeliver. In fact, some companies can leave you in worse financial shape than before you hired them.

Debt settlement companies cannot guarantee that they can persuade a creditor to settle your debt, especially not for “pennies on the dollar,” as many companies claim. The negotiations could take months or longer, during which time you could be in serious trouble if you stopped making payments to your creditors. Additionally, our Phoenix, AZ debt lawyer, shares that no creditor is bound to accept a settlement agreement, making these promises based on a false foundation. 

The state of Arizona doesn’t ban debt settlement services, but it does place strict rules on how they operate, what they are required to disclose to you, and what you should be wary of when dealing with them. You can find out more information on the Arizona Attorney General’s website.

Credit Repair Agencies Are Almost Always a Scam

Our Phoenix, AZ debt lawyer, shares that your credit score and history greatly determines your financial options. If you have poor credit, you may not qualify for a mortgage, a residential lease, a car loan, insurance, and even jobs in certain professions. Therefore, if you have made mistakes in the past and now suffer from bad credit, hiring someone to fix your credit score may sound appealing.

But you should be aware that as long as the information on your credit report is accurate, it cannot be removed by anyone. And the only person who can repair your credit is you – through years of consistent, responsible financial behavior.

In short: hiring a company to repair your credit is a waste of money at best and a scam to get sensitive personal information from you at worst. Our debt lawyer in Phoenix, AZ, recommends that you avoid these companies/agencies entirely.

Who Can You Trust?

Bankruptcy and Phoenix, AZ debt lawyers are bound by the high professional and ethical standards of the American Bar Association and the State Bar of Arizona. Our firm’s Phoenix, AZ debt lawyer team, is fully licensed and is knowledgeable about all your debt-relief options, including personal bankruptcy and alternatives. And after a thorough examination of your financial health and debt issues, we make recommendations that are in your best interest – not ours.

Our firm offers straightforward answers and a non-judgmental approach to client interactions. If you want honest, informed advice from a professional who can genuinely help you resolve your debt issues, contact us to schedule an initial consultation with one of our Phoenix, AZ debt lawyers. We look forward to speaking with you. 

Weighing Your Options with Our Debt Lawyer in Phoenix, AZ

Your debt shouldn’t have to consume you, but sometimes it can. While the last thing you want is to find yourself in over your head, our debt lawyers in Phoenix, Arizona, know that it’s all too common for people to find themselves overextended, finding it challenging to keep up with their financial obligations. While there are alternatives to bankruptcy, it’s crucial to weigh your options with Kamper & Estrada, PLLC. Whether you choose an alternative solution or find that bankruptcy is the best solution for you, our Phoenix, AZ debt lawyer can help. We can assist in not only making a decision but also providing you peace of mind in knowing that you are making one that best suits your specific situation. Choose Kamper & Estrada, PLLC, to ensure that you receive experienced representation from professionals you can depend on. 

Alternatives to Bankruptcy

While there can be alternatives to filing for bankruptcy, you will want to choose carefully. With so many options, you will want to be sure that you select an alternative that will work for you. When weighing the pros and cons, you will need a Phoenix, Arizona debt lawyer to provide you with guidance. The last thing you want is to find that you have chosen an option that is not realistic for your situation. Here are some alternatives that your debt lawyer in Phoenix, AZ, might recommend: 

  • Negotiating with creditors by settling your debts for less than you owe
  • Working with a reputable credit counseling agency
  • Debt consolidation programs

It would be best if you made a well-informed decision when considering alternatives. To learn more about other options that you may qualify for, contact our Phoenix, AZ debt lawyer so that we can help you make an informed decision. 

Choosing Bankruptcy

In some cases, you may find that alternatives are not the best option for you. Choosing bankruptcy may be the best way to get out from underneath the crushing debt you are struggling with. Unable to pay your bills? Struggling to qualify for alternatives? Feeling as though you will forever be struggling with debts that are piling up? Our debt lawyer in Phoenix, Arizona, may recommend either: 

  1. Chapter 7: a liquidation bankruptcy that wipes the slate clean from all unsecured debts. To file for Chapter 7, you must fall within certain criteria, including: 
  • Completing debt counseling
  • Passing the means test
  1. Chapter 13: this option is called a reorganization bankruptcy. Debtors can reorganize their debts and repay some of them over 3-5 years. For many, this is an option for those who do not qualify for Chapter 7.

The thought of choosing bankruptcy can be nerve-wracking. It may feel as though you will never be able to recover. Our Phoenix, AZ debt lawyer, shares that for many, this is the best way to move forward and take control of their financial situation. 

To File Or Not To File For Bankruptcy

This is one of the biggest questions someone who is in debt may be facing. Those of us at Kamper & Estrada, PLLC understand the pain and difficulties that can come with being in debt and know that you may be considering bankruptcy. It is imperative that you speak with your trusted debt lawyer before filing on your own so that you can know if this is going to be the best option for you or if you should be considering other settlement options. So, how will you know if filing for bankruptcy is right? 

  • The debts you have are mainly unsecured debts. This is a huge indication of whether you should be pursuing bankruptcy. When most of your debts come in the forms of medical bills, personal loans, and credit card debt, you may find that filing for Chapter 7 bankruptcy will greatly reduce the debt you are in. In these circumstances, you may be able to clear a great portion of your debts while saving your assets. 
  • You make enough money every month. You may have heard that you should make next to nothing if you are going to file for bankruptcy. This is not true, especially if you are going to speak with your attorney about filing for Chapter 13 bankruptcy. This allows you to use the money you are bringing in every month to pay off your debts throughout a repayment schedule over the course of a few years. 

Bankruptcy Red Flags 

You may also be wondering what kinds of red flags may come up when it comes to filing for bankruptcy and what may indicate that this is not the best option for you. 

  • Your debts are ineligible. This means that you may mainly have debts like back taxes, child support, or student loans. While you may have some credit card debt or medical bills as well, if you are mainly carrying around ineligible debts, filing for bankruptcy may end up costing more in the long run and may not wipe out enough of your debt to make it worth it.  
  • You are better off without it. When you work with one of our attorneys, you can trust that we will examine your situation to determine if filing for bankruptcy will actually be of benefit to you. Remember, just because you qualify for it does not mean it is best. You may be eligible for unemployment benefits or you may not be prepared to part with valuable items if you file for Chapter 7 bankruptcy. 

Choosing Kamper & Estrada, PLLC

When someone is struggling financially, there are a few things that could happen. In some cases, you may be able to keep up with minimum payments; in other situations, you may find it difficult to pay all of your expenses. This is no way to sustain. Unfortunately, you may find yourself struggling to keep up. This is where we come in. Kamper & Estrada, PLLC, our debt lawyer in Phoenix, Arizona, is prepared to help you make a fresh start.