Jul 11, · A Chapter 7 bankruptcy in Arizona usually takes months long. You must complete the requirements before filing. After you initially file your Arizona bankruptcy paperwork, take the second debtor education course from an agency approved by the U.S. Trustee in Arizona. Very rarely is a bankruptcy discharge denied by the Arizona Bankruptcy. rows · Discharge of Debtor in a Chapter 7 Case: Bankruptcy Forms: B F: Chapter 12 . Apr 04, · If you lived in Arizona for a shorter period of time, or recently moved, the state that you lived in for the day period that preceded your move will likely apply to your Chapter 7 case. Eligibility to file Chapter 7 is based on your income over the last six months. If you earn less than the median for a family of your size in Arizona, you.
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Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. The net proceeds of the liquidation are then distributed to your creditors with a commission taken by the trustee overseeing the distribution. Certain debts cannot be discharged in a Chapter 7 bankruptcy, such as alimony, child support, fraudulent debts, certain taxes, student loans, and certain items charged.
You may keep certain secured debts such as your car or your furniture or house by reaffirming those debts. If you decide that you want to keep your house or your car or your furniture, and you reaffirm the debt, you cannot bankrupt or wipe-out that debt again for eight years. You will still owe that debt and you must continue to pay it just as you were obligated to continue to pay it before you filed bankruptcy.
In order to reaffirm the debt, you must also bring it current. We know that facing the possibility of bankruptcy is a daunting task. Since no two situations are alike, we urge you to take advantage of our expertise in bankruptcy procedure and law by calling us at the Oswalt Law Group at for a free consultation. Free Case Evaluation. Nothing on this site should be taken as legal advice for any individual case or situation. Viewing this information does not create an attorney-client relationship.
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