Accruing debt is an inevitable part of modern life. However, if your debt has become burdensome or unmanageable, you may need to divest yourself of some or all of it.
Contact Campo Law Firm, PLC to discuss your bankruptcy options. Our Phoenix, Arizona attorney can:
Advise as to whether or not bankruptcy is a wise choice for you
Explain the pros and cons of the different bankruptcy chapters
Represent you throughout the filing process
Call 602-445-6221 to speak with a Phoenix, Arizona debt relief attorney.
Filing for bankruptcy is a valid legal option. You should look into it if:
Living with debt is scary. If you feel like you're drowning in debt, you're not alone. Fortunately, there's a solution. Hire a bankruptcy attorney to help you determine if filing for bankruptcy is the right path for you.
Get past the hurdle and see the light. Call 602-445-6221 today to speak with an experienced bankruptcy lawyer at the Campo Law Firm, PLC.
Are you in over your head in debt? Trust a reputable bankruptcy lawyer to help you whittle away your debt and turn your life around. Our legal team helps clients:
Consumers in Phoenix, AZ, and many other parts of Arizona are facing serious financial challenges. The downward turn of the economy in the last few years has made it very difficult for consumers to make ends meet and at the same time pay their mortgages, personal loans, and credit card debt on time. For most people, honoring all these financial commitments is simply impossible. Declaring bankruptcy may be a good idea if you have defaulted on your credit card debt, mortgage, or personal loan. There is a lot of misconception about bankruptcy. You are probably wondering how bankruptcy will affect your credit, or if your assets will be liquidated. Well, you can get answers to all the questions that you may have from our Phoenix, AZ bankruptcy attorney, so you may want to consider getting in touch with us as soon as possible.
There's no shame in bankruptcy
It's safe to assume that most of us have never envisioned ourselves having to file for bankruptcy. Unfortunately, financial hardship is not always something we can adequately prepare for. From a sudden loss of employment to unforeseen medical bills, there are instances when bankruptcy is the optimal solution. Phoenix's CAMPO LAW FIRM, PLC can guide you through the process, and assure you that there's nothing to be ashamed of. Did you know that 2013 saw over one million bankruptcy filings nationwide? That statistic attests to the fact that you are not alone. Filing for bankruptcy no longer has the stigma attached as it did in years past. CAMPO LAW FIRM, PLC has years of experience handling all of the caveats associated with bankruptcy and will ensure that the process is as comfortable and expedient as possible. When saddled with seemingly indomitable debt, feelings of extreme hopelessness can set in. Phoenix, AZ CAMPO LAW FIRM, PLC assures you that there is a light at the end of the tunnel, and will lead you to it.
If you have a lot of debt that you cannot easily manage, you can sit down with your lawyer to choose the best bankruptcy option for your situation. The easiest way to identify the right option is taking a means test to calculate your expenses, income, debts, and assets. Passing the means test means that Chapter 7 is best suited for your situation as it eliminates all eligible debts. With this chapter, however, you will be required to surrender all non-exempt assets for liquidation. Fortunately, you can keep your clothing, furnishings, work items, car, and home. This option is usually best suited for individuals who do not have a reliable income source or significant assets in their estate.
Chapter 13 bankruptcy is for any debtor who is not eligible for Chapter 7. Instead of writing off debts, this option restructures them. Normally, debtors repay up to 60 cents in a dollar throughout the repayment plan. The debt is repaid over a period of 3 to 5 years with simple monthly installments. The means test is not administered and no assets are liquidated. It is ideal for individuals who have a stable income as well as a large estate that is worth much more than the outstanding debts. People often use this option to delay, or stop foreclosure, and give themselves time to make up for missed payments. Speak with your local Phoenix, AZ bankruptcy attorney CAMPO LAW FIRM, PLC today.
When considering bankruptcy, you should know that there are debts that cannot be written off due to bankruptcy. They include child support, student loans, and unpaid taxes. On the other hand, car loans and other secured cash advances cannot be written off: the collateral is often repossessed by creditors. However, bankruptcy can still help with these loans and debts as it will free up some cash that can be used to offset these debts. You may want to get in touch with Campo Law Firm, PLC to learn more about the differences between the two types of personal bankruptcy.
When experiencing financial hardship, bankruptcy is not always the best debt settlement option. You may want to consider other options like debt negotiation. It is important to note that creditors do not usually get all their money back when debtors declare bankruptcy. This is the main reason why creditors are usually more open to other debt settlement options. In debt negotiation, debtors can get reduced monthly payments, a lower interest rate, or a waiver on penalties. This can make the difference between defaulting and paying your bills on time.
Campo Law Firm, PLC was founded in the year 2005. Since then, the firm has helped the men and women who live in Phoenix and other parts of Arizona to get rid of their debt. Having creditors send notices of default can be a stressful and embarrassing experience, and most people are usually open to any idea they get. At Campo Law Firm, PLC, you can expect personalized, caring, and attentive guidance during this difficult time. Whether you are looking for a fresh start or want to reduce your financial strain, Campo Law Firm, PLC can help. You may want to get in touch with the company if you are subject to creditor harassment.
While most people expect life after bankruptcy to be completely different, that is not usually the case. In fact, the only thing that may change is that you may pay fewer bills. While your credit may be affected, bankruptcy will help to reduce your interest rate as well as penalties and prevent you from continuing to default on your debts. Organizing your finances will become easier once your debts are written off, and you will be in a better position to repay new loans without defaulting. Bankruptcy will also give you peace of mind since there will be no need to worry about answering phone calls from creditors or collection agencies. Once your debt has been discharged, you will feel like you have a new lease on life. Call Campo Law Firm, PLC today for a free consultation. After all, you've nothing to lose except your debt!