While it is possible to file for individual Chapter 7 bankruptcy in Phoenix, AZ, there are a number of factors to be considered before making that choice. For example, with Chapter 7 bankruptcy the household income of BOTH spouses is used to determine the Means Test (qualifications) for filing bankruptcy, even if you file separately. Read More »
To file for consumer Chapter 7 bankruptcy in Arizona, there is a qualifying test known as a Means Test. It is a straight-forward determination of who qualifies for bankruptcy protection under the Chapter 7 bankruptcy statutes. Specifically, the Arizona Bankruptcy Code Means Test says: Section 707(b)(2) of the Bankruptcy Code applies a “means test” to Read More »
One of the main reasons AZ residents file for bankruptcy is overwhelming debt that includes their home. Whether people are trying to get out from under mortgage liabilities through Chapter 7 bankruptcy or looking to save their home by filing a Chapter 13 bankruptcy payment plan, a home is a significant part of the decision Read More »
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