Consumer Bankruptcy Lawyers in Surprise, Arizona

Surprise Consumer Bankruptcy Lawyers, AZ

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Bankruptcy is a legal procedure that allows an individual or business to have some or all of their debts discharged. It is usually considered as an option of last resort, because while it can stave off financial disaster, it has some significant long-term consequences warranting careful consideration of the costs and benefits. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in Arizona will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Surprise, Arizona before filing.

Chapter 7 Bankruptcy in Surprise, Arizona

There are 2 common types of bankruptcy in Surprise, Arizona. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is discharged. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, essential personal items, and retirement accounts.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is excused. However, some types of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Surprise, Arizona is not dischargeable, you might want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Surprise, Arizona

Chapter 13 Bankruptcy in Surprise, Arizona is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each individual case. Chapter 13 does not eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Usually, all of the debts are consolidated into 1 periodic payment. While this might make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

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Which Type of Consumer Bankruptcy Should I File in Surprise, Arizona

This depends entirely on the facts of your particular case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, it would be a good idea to consult a local bankruptcy attorney in Surprise, Arizona. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

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Life in Surprise

Surprise is located in Maricopa County, Arizona.  Its population is one of the fastest-growing in the state- it went from 30,000 in the year 2000 up to 90,000 by the year 2007.  The city was founded in 1938 and was named after Surprise, Nebraska. 

Surprise is a popular destination for those seeking residential opportunities, in particular retirement homes.  In fact, much of the city's population growth can be attributed to Sun City Grand, which is a resort-like, age-restricted residential community.  The community is a large contributor to Surprise's population and economy.

Warm weather and modern sports facilities make Surprise an ideal location for those who love sports.  For example, the city maintains an outstanding Recreation Campus.  The Campus houses the Surprise Tennis and Racket Complex (STRC), which has received several awards.  STRC is often the site for important professional matches. 

If you have a legal claim, lawyers in Surprise, Arizona will usually file the claim at the Surprise Municipal Court.  The municipal court hears civil matters as well as criminal misdemeanor cases.  Surprise lawyers can provide you with advice or representation on a variety of legal issues. 

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