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Bankruptcy Exemptions

Bankruptcy and Debt Solution Lawyer in Arizona

Filing for bankruptcy is not a simple task. There are many things to consider, whether to file Chapter 7, Chapter 11 or Chapter 13, what you will qualify for and if bankruptcy is even the right route to take. That is why we highly advise that anyone considering bankruptcy as a debt solution consult with an experienced Arizona bankruptcy attorney.

A lot of people worry about their assets when they consider filing bankruptcy. This is a valid concern, especially for those planning on filing Chapter 7, which liquidates assets and clears debts. Filing Chapter 11 or Chapter 13 gives individuals, spouses and businesses the opportunity to repay their creditors over a period of time, in order to gain control of their debt, and generally protects the vast majority of assets.

We Can Help You Make an Informed Decision

In the state of Arizona, the following items are examples of what can be considered bankruptcy exemptions when filing bankruptcy:

  • Homestead - up to $150,000
  • Personal property - some restrictions apply
  • Public benefits - unemployment compensation, workers compensation and welfare benefits
  • Alimony or child support
  • Insurance
  • Tools of the trade
  • Some pensions and retirement benefits

In order to determine what exemptions may apply to your specific situation, it is vital to consult with a skilled lawyer. At Price Law Group in Arizona, our attorneys are standing by, prepared to fight for your rights through bankruptcy or any other debt solutions we can assist you with. If you are drowning in debt, experiencing creditor abuse, facing repossession or foreclosure, we can help.

Contact an Arizona Bankruptcy Lawyer now for bankruptcy information or representation.

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