Mesa Bankruptcy Lawyer

Bankruptcy in Mesa, Arizona

Bankruptcy in Mesa, Arizona, enables individuals and businesses to free themselves from certain types of debt. In times of financial distress, bankruptcy lawyers will help assess individual assets and liabilities; providing a settlement that will enable the debtor to maintain possession of some property and satisfy other creditors. Using an order of priority established by law, remaining debts can be discharged--requiring no further payments. Exceptions would be certain types of debt such as domestic support orders, some tax debts, or debt that was obtained through fraud.

The term bankruptcy is used when an individual or establishment legally declares in a court of law that they are unable to pay their creditors. Bankruptcy is filed in the federal court system and may relieve the debtor of some of their financial worries. Out of the six types of bankruptcy, individuals usually file Chapter 7 or Chapter 13. Businesses usually file bankruptcy under Chapters 7 or 11. Those contemplating bankruptcy in Mesa, Arizona, should think long and hard before choosing this financial relief option. Filing bankruptcy can affect your credit, as well as your consumer buying power, for up to ten years.

In times of cash flow troubles, bankruptcy will allow individuals a fresh start and clean slate. Unexpected events, like loss of employment, business failure, sudden illness, divorce, or even the death of a family member may lead financially unfortunate individuals to file bankruptcy.

Like individuals, some businesses also have a run of bad luck financially. Loss of sales or poor business planning may leave them unable to pay their bills; falling further behind and deeper in debt. Filing bankruptcy in Mesa, Arizona, may be the answer for financial relief for businesses, too.

In times of financial woe, seeking counsel from an experienced bankruptcy attorney is of utmost importance for individuals and businesses alike. While bankruptcy may not be for everyone, the law offices in Mesa, Arizona, can help assess your debt problems and offer legal options that are right for you.

The emotional and financial impact of filing bankruptcy in Mesa, Arizona, can be devastating. To rebuild and maintain a successful financial lifestyle, one must confront these issues that surround bankruptcy and reach an understanding of the situation. Working with an experienced bankruptcy attorney can help guide financially-strapped individuals and businesses through the legal, financial, and emotional channels of bankruptcy. These experienced bankruptcy lawyers will help steer bankruptcy clients in the right direction for financial success.

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