A Tucson Bankruptcy Lawyer Can Help Find the Right Solution for You

If you’re in a tough financial situation and considering bankruptcy, the first thing you need is reliable information. There are a lot of myths floating around about bankruptcy, and the two types of consumer bankruptcy are very different. Good decisions about your future start with the straight story. For most people, the best source of that information is an experienced local bankruptcy attorney.

Attorney Jeffrey Judge devotes his practice to helping people get out of debt. His office is conveniently located in Tucson’s Campbell-Grant neighborhood, not far from the University of Arizona campus. He practices regularly in the U.S. Bankruptcy Court for the District of Arizona-Tucson, which is located in the James A. Walsh Federal Courthouse, about 10 minutes from the Judge Law Firm.

A knowledgeable Tucson bankruptcy attorney like Jeffrey Judge can:

  • Give you the facts about bankruptcy and what you can expect during and after bankruptcy
  • Explain the differences between Chapter 7 and Chapter 13 bankruptcy
  • Look at specifics like your income, debts, and assets to help you determine the right solution for your circumstances

If you decide to file, your Tucson bankruptcy lawyer can help ensure success by:

  • Using the information you provide to properly prepare your petition and schedules
  • Reviewing your documents to ensure that you have provided all of the records the bankruptcy trustee will require
  • Prepare you for the meeting of creditors (also known as a 341 hearing) and appear with you
  • Assist in responding to any requests for additional documentation or objections
  • In a Chapter 13 case, drafting a confirmable plan
  • Handling any adversary proceedings that arise

Your bankruptcy attorney will explain in more detail the steps involved in your particular case.

Chapter 7 or Chapter 13 Bankruptcy?

The best way to find out whether Chapter 7 or Chapter 13 bankruptcy would be a better fit for your circumstances is to tell your story to an experienced local bankruptcy lawyer. This brief overview will help you start thinking about the factors that may point to one type of bankruptcy or the other, and understand how each works and what the bankruptcy petitioner gains.

The two types of bankruptcy have one powerful tool in common: in most Chapter 7 and Chapter 13 cases, an automatic stay is entered right after filing, stopping creditors and debt collectors from taking any further collection action.

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most common type of consumer bankruptcy, and the one most people think of when they hear “bankruptcy.” In a Chapter 7 case, most unsecured debts can be wiped out through the bankruptcy discharge. That means the legal obligation to pay those debts is eliminated so you can make a fresh start.

However, Chapter 7 bankruptcy isn’t for everyone. It generally doesn’t help with secured debts unless you are willing to give up the property that serves as security. And, people with too much income may not qualify for Chapter 7.

Chapter 7 is often a good choice for people who don’t have a lot of assets and who are trying to resolve unsecured debts such as credit card debt, medical bills, and payday loans. In many cases, debts can be eliminated in as little as four to five months.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy isn’t as quick and easy as Chapter 7 bankruptcy, but offers a solution for people who have fallen behind on secured debts (such as car loans and mortgages) and want to keep the property, or who earn too much money to file under Chapter 7.

In a Chapter 13 case, debts are repaid through a three to five year repayment plan. The bankruptcy petitioner continues to pay new instalments as they come due, but has an extended time to catch up on past-due balances without the threat of collection action. In some situations, the interest rates, or even the balance on a secured loan, may be reduced as part of the plan. Some unsecured debt may also be discharged when the plan is successfully completed.

Ready to Talk to a Local Bankruptcy Lawyer?

Get the information you need to take control of your finances. Call 520-815-1000 to schedule your no-obligation consultation.