Do I Qualify for AZ Bankruptcy?
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- Do I Qualify for AZ Bankruptcy?
Many people who are suffering through serious financial problems consider filing bankruptcy in Arizona as an option for relief. While bankruptcy protection will provide an end-point in the short-term to the collection efforts that make every phone call a traumatic event and every trip to the mailbox something those with financial problems dread, new bankruptcy laws passed in 2005 have led many people to question whether they qualify for AZ bankruptcy. Overall, the best step to take if you have any questions regarding Arizona bankruptcy is to contact an Phoenix bankruptcy lawyer to obtain a specific set of answers relative to your specific financial situation. In the meantime, below is an overview of these ‘qualifications’ for bankruptcy.
Arizona Bankruptcy Qualifications
The 2005 bankruptcy law, entitled the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, put some additional steps in place for those seeking bankruptcy help as compared to what was required prior to the passage of this law. These steps/qualifications include:
- Taking a financial counseling course approved by the bankruptcy court and
- Satisfying the ‘means’ test if your income is above the median income level of your state
While the first step/qualification is simple even if critics of this law find it unnecessary, the income/means test issue can be extremely complicated.
What the AZ Bankruptcy Requirements Mean
However, despite the fact that new steps are in place, failure to meet the income requirement does not mean that you are not allowed to file for bankruptcy protection in Arizona. Instead, you will be required to file for protection under Chapter 13 instead of Chapter 7 of the United States Bankruptcy Code. There are differences between these types of filings, including the fact that you will need to make monthly payments that you can afford to your creditors for a period of time. However, the remaining debts are discharged when this schedule of payments is complete, much like a Chapter 7 filing.
Basically, those who are experiencing severe financial distress should not be concerned with ‘qualifying’ for Arizona bankruptcy protection. Instead, those in this situation should contact an experienced Phoenix bankruptcy lawyer to schedule an initial consultation so that a course can be plotted that leads to financial freedom. Contact the Phillips Law Group today to get this process started.
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Phillips Law Group provides a collaborative environment in which both attorneys and staff work together to achieve the best outcome for clients. As an attorney here at PLG, I’m lucky to be surrounded by seasoned attorneys and knowledgeable staff that share my enthusiasm for helping accident victims. The team here at PLG treats clients with respect and empathy while fighting hard to get the results they deserve.
I would like to send special thanks to Phillips Law Group for giving me the opportunity to be a part of the Best Law Firm here in the Valley. During these troubling times with the epidemic, Phillips Law Group has masterfully created this family-like environment while still maintaining a professional and business-like approach for all their clients. Thru impeccable leadership that is unmatched by other law firms to the Multi-diverse employment opportunities that many employees advance within the firm; Phillips Law Group has not only distanced themselves from all other competition in the Personal Injury field but also has innovatively changed the narrative of being a great law institution. From providing Employee Appreciation Day to celebrating all major Holiday including great competitive contests; Phillips Law Group has the total participation of all employees to help contribute to the continued success of this firm. So in closing I would like to thank Senior Administration (Jeffery Phillips, Eva Chiaramonte, and Tim Tonkin) along with all of my colleagues and many friends for help making Phillips Law Group a unique and wonderful place to call my place of employment for 6+ years.
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I tried a few previous law firms and none would take my car accident case with confidence they could get my anything. Phillips law group took my case and although it took around 4 years to get this case settled as I was in treatment, they never let up with insurance adjusters and they got me as much money as possible. They worked hard for me and advocated for me. Shoutout to key individuals who worked my case nonstop of the years, Robert Ross & Jasmine, you are AMAZING!
PLG is the best! Highly recommend. Love that they do so much to help the community.
Phillips is the best!! Love all that they do to give back to the community and how much they help those who are experiencing homelessness. ❤️
Jasmine helped me so so much I want to thank her ! And also Aaron , i was always scared after an accident , knowing I would have to deal with lawyers but not here . Luckily I’ve only been in 3 accidents but this time it was fast and easy . And i received all the treatments I needed to help me recover ! Thank you Jasmine and Aaron!
Working at Phillips Law Group has been a blessing from the beginning for me and I am extremely thankful to work for a firm that values their employees so much. Here I believe we are a huge family of hard working people that can bring a sense of comfort to our client’s lives in times of hardships, stress and chaos. From intake to Settlement we strive to provide the best customer care to all of our wonderful clients. With a 4.8 rating and over 1100+ star reviews on Google no surprise our firm is extremely well known for the quality of work we do!! #teamPLG!!
I’ve been working at Phillips Law Group for nearly four years and I can confidently say this is the best personal injury firm in Arizona to work for. The firm is the best for numerous reasons but to start, Phillips Law Group gives employees opportunities for promotions and growth. I started working within the settlement department, moved to a paralegal assistant and grew to be a pre-litigation paralegal with my own case load. Each attorney I have worked for is extremely knowledgeable, friendly, and easy to talk to. Secondly, I love how Phillips Law shows appreciation for employees. They host Friday Zoom Huddles giving out PTO, goodie bags, special shout outs, bonuses and gift cards. They also host extravagant holiday parties and fun contests during the Holidays! Lastly, the firm cares about giving back to the community, which is a trait I value as well. It’s rewarding to see a fast paced firm taking time out of their busy day to pay it forward. I would highly recommend working at Phillips Law Group!