Tag Archives: Chapter 13 Bankruptcy

When to Choose Chapter 13 Bankruptcy

Ask Our Tucson Chapter 13 Bankruptcy Lawyers

Knowing when to file chapter 13 bankruptcy is an important fact to know if you are considering filing for bankruptcy in Tucson, Arizona.  When choosing to file for bankruptcy in Tucson, there are 2 main chapters of bankruptcy that most people file.  They are chapter 7 bankruptcy and chapter 13 bankruptcy.

Chapter 13 bankruptcy is generally used if:
You have a house in foreclosure that you want to keep
• Your income exceeds your expenses and does not allow you?to file for Chapter 7 Bankruptcy
• If you have some other large non-exempt assets that you would like to retain
** Chapter 13 bankruptcy: requires a repayment of part of your debts in a percentage that you propose to the Bankruptcy Court.

When drawing up your chapter 13 bankruptcy repayment plan, you and your attorney prepare a plan for repayment of your debts with monthly payments that you can afford.  Chapter 13 bankruptcy allows you to set up an affordable plan for repaying a portion of your debt to your creditors. The chapter 13 bankruptcy payment plan is customized to your unique situation. It is affordable because you pay your living expenses first, then any remaining income is divided among your creditors.

Chapter 13 bankruptcy repayment plans usually last between 3 and 5 years and repay creditors anywhere between 10% – 100% of what is owed for unsecured debt, such as credit cards, medical bills, etc.

Though you can file for chapter 13 bankruptcy without using an experienced chapter 13 bankruptcy lawyer, it is definitely not recommended.  Even a document preparation company will struggle mightily with a chapter 13 bankruptcy filing.  Seek the assistance of a knowledgeable bankruptcy attorney in Tucson, Arizona.

The chapter 13 bankruptcy plan must be approved by the Bankruptcy Court and place your unsecured creditors in at least as good of a position as they would be in a Chapter 7 Bankruptcy.

In some circumstances, a Chapter 13 can be used to strip a second mortgage from your home if the first mortgage exceeds the current value of your home.  Chapter 13 bankruptcy can also be a valuable assistance in pausing your student loan payments and in stopping the repossession of a vehicle.

Chapter 13 Bankruptcy Lawyers Tucson When to Choose Chapter 13 Bankruptcy

In order to determine if a Chapter 13 Bankruptcy is right for you, please contact My AZ lawyers, PLLC.  Our experienced Tucson bankruptcy lawyers will assist you in choosing the best chapter of bankruptcy for you to file and advise you as to all of your debt relief options.  We offer Free Consultations (Either in Office or by Phone — Your Choice!).  Contact our Tucson bankruptcy law office now!

What Is Needed to File Bankruptcy

Filing Bankruptcy in Tucson, Arizona

Learning What Documents are Necessary to File Bankruptcy in Tucson

If you are wondering what is needed to file bankruptcy, you are probably trying to decide if you should file for bankruptcy protection in Tucson, Pima County, Arizona.  If you do decide to file, you will be asked to fill out your bankruptcy paperwork and to disclose information regarding your financial affairs. In addition, you will need to back up that information by providing certain documents to the bankruptcy trustee.  Here are a few of the documents that may be required when filing bankruptcy in Tucson, AZ.

Many of our clients have questions about bankruptcy that our experienced Tucson bankruptcy attorneys answer at the FREE Consultation that we offer to every one of our clients.  Our free consults can either be in our Tucson bankruptcy law office, located at 2 East Congress Street in Tucson, Arizona 85701.

Bankruptcy Lawyers in Tucson, Arizona

What Documents Do You Need to File for Bankruptcy?

The documents you will need are generally the same whether you are filing a Chapter 7 or Chapter 13 bankruptcy in Tucson  However, for exact documentation requirements, be sure to check the guidelines provided by your specific chapter 7 bankruptcy trustee or your particular chapter 13 bankruptcy trustee.  Also, your bankruptcy attorney should be able to provide you with a list or at least guide you regarding what documentation will be expected when filing for bankruptcy.

Here is a Starter List for What is Needed to File Bankruptcy:

Tax Returns (Usually for the past 2 years)

Income Documentation (Paystubs from your work for past 6 months)

Real Estate (Including price evaluation and mortgage statements)

Vehicles (Registrations, Loans, Price Evaluation)

Retirement And Bank Accounts (Including: Checking, Savings, IRA’s Accounts)

Miscellaneous (Proof of Misc. expenses or Unique Circumstances) Such as:   

  • Child Support
  • Alimony Spousal Maintenance
  • Back Tax Payments
  • Unusual Expenses

Identification (Valid Photo ID AND Proof of Social Security Number)

There is no need to put your family’s future on hold any longer. The Tucson bankruptcy attorneys at My AZ Lawyers, PLLC are here to assist you, our experienced team of professionals is ready to help you get a fresh financial start through the process of declaring bankruptcy. Call us today at (520) 307-0020.  Our Tucson bankruptcy lawyers will start putting our debt relief strategies to work for you.  We will assist you through the entire process of filing bankruptcy in Tucson and surrounding communities.

 

Bankruptcy Attorney Tucson | 2 East Congress Street | Tucson, AZ 85701
The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship. We are a debt relief agency helping people file for bankruptcy under the U.S. Bankruptcy Code.
IRS Circular 230 Disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

My AZ Lawyers, PLLC

2 East Congress Street
Suite #900
Tucson, AZ 85701
 
(520) 307-0020