Chapter 7 Bankruptcy

Chapter 7 is the most common type of bankruptcy filed in the U.S. and the most common type of bankruptcy filed in Arizona. It is often called the liquidation bankruptcy or the fresh start bankruptcy. Chapter 7 bankruptcy liquidates (sells) all of the nonexempt assets to pay the creditors. When completed, Chapter 7 will discharge (eliminate) all of the debts with none having to be repaid.

The Chapter 7 bankruptcy process in Phoenix, Arizona begins by taking a means test to determine if you qualify. If you do not, then there are other chapters of bankruptcy that can be considered. It is advisable to discuss your qualifications with an experienced bankruptcy attorney – whether you pass the means test or not.

Find more detailed information on Chapter 7 bankruptcy topics here:

Chapter 7 Bankruptcy Details

Fresh Start

Means Test