Chapter 13 Bankruptcy Arizona
There are certain attributes about a Chapter 13 bankruptcy in Arizona a that may be helpful to understand. See everything you need to know.
In this article, we aim to shed some light on how you can lighten the load. We will cover details about a Chapter 13 bankruptcy in Arizona plus additional opportunities to help you attain financial freedom.
Chapter 13 Bankruptcy Arizona
The purpose of this article is to offer some of the main features of a Chapter 13 bankruptcy in Arizona. So, why are we concentrating on a Chapter 13 bankruptcy in Arizona? Well, we are paying attention to Arizona because there are details that are particular to Arizona and others are appropriate to the nation at large. You can get more information about national-specific in our article, Chapter 13 bankruptcy.
Before we delve into Arizona specific details, let’s learn a bit about a Chapter 13 bankruptcy and how it differs from a Chapter 7 bankruptcy.
Chapter 13 Bankruptcy: In other circles, Chapter 13 bankruptcy is called the 'wage earners bankruptcy.' Here, debtors accept to repay the debt, through an installment repayment arrangement that ranges from three to five years. In most cases, the debtors utilize the expertise of attorneys in this process. Why do most people prefer Chapter 13? One reason is that they might be earning too much to file a Chapter 7 bankruptcy. Also, they might own valuable assets. Payment is monthly.
Chapter 7 Bankruptcy: A chapter 7 bankruptcy can also be termed to as a 'liquidation bankruptcy.' Here, debtors can't pay their debts, and so they file a Chapter 7 to attempt and discharge the debt. If you are eligible for this Chapter, it can be handled in 120 days, and it is less costly. Below, we have a calculator that will help you approximate your Chapter 13 payment arrangement and if you are eligible for a Chapter 7.
At this juncture, you can differentiate between the two, so we can proceed to Chapter 13 Bankruptcy in Arizona.
In this article, we will learn about the following:
- Chapter 13 Bankruptcy Plan Payment in Arizona
- Chapter 13 Bankruptcy Arizona Exemptions
- Chapter 13 Bankruptcy Arizona Trustees
- Arizona Bankruptcy Districts and Court Locations
- Should I File a Chapter 13 Bankruptcy in Arizona?
Chapter 13 Bankruptcy Plan Payment in Arizona
One of the first useful things to do is to estimate what your Chapter 13 plan payment would be. The Chapter 13 bankruptcy Arizona plan payment estimate below takes into account the IRS National expense figures and also specific Arizona expenses including the Arizona bankruptcy allowable living expenses and the Arizona administrative expense multiplier.
The majority of people are eager to learn if they are eligible for a Chapter 7, and if they file for a Chapter 13, what would be their Chapter 13 payment plan. Estimation of an accurate Chapter 13 bankruptcy arrangement payment on your own can be challenging due to the complicated bankruptcy forms involved. This is why we created the calculator to help you understand if you are eligible for a Chapter 7 and give an estimated payment arrangement in case you go for a Chapter 13 bankruptcy.
How the Chapter 13 Calculator Works:
- The Rough Estimate Calculator: takes a very short time although it doesn't provide a detailed picture; therefore, it is advisable to settle for the more thorough calculator.
- More Precise Estimate Calculator: this calculator will give you access to our more accurate calculators. Always keep in mind that the figures offered are estimates and consulting an established lawyer is your best bet if you need particular numbers.
Arizona Means Testing
The calculator shown above takes into account Arizona means testing data found here to approximate if you are eligible for a Chapter 7. Also included are the details for the Arizona Means Test on or after May 1, 2020 in the table below. Please note that each individual after 9 people is $9,000.
| # of People | Annual Income |
|---|---|
| 1 | $52,319 |
| 2 | $65,713 |
| 3 | $71,704 |
| 4 | $86,950 |
| 5 | $95,950 |
| 6 | $104,950 |
| 7 | $113,950 |
| 8 | $122,950 |
| 9 | $131,950 |
Chapter 13 Bankruptcy Arizona Exemptions
Before you pursue a Chapter 13, be sure whether you own any assets that are above the exemptions. While you might be eligible for a Chapter 7, having a massive equity position in assets makes debt settlement or a Chapter 13, the more logical choice.
Arizona has specific statutes and bankruptcy exemptions that should be taken into account when filing for bankruptcy. In case you own assets that are above the Arizona exemption, then they could be liquidated. We have included the full list of of Arizona Bankruptcy exemptions.
Chapter 13 Bankruptcy Arizona Trustees
The work of the trustee is to administer the bankruptcy proceedings and liquidate the nonexempt assets of the debtor. While there are lots of Chapter 7 trustees, there are not that many Chapter 13 trustees. The following is a list of Chapter 13 bankruptcy trustees in Arizona.
| District | Name | Phone |
|---|---|---|
| N/A | Russell A. Brown | (602)277-8996 |
| N/A | Dianne C. Kerns | (520)544-9094 |
| N/A | Edward J. Maney | (602)277-3776 |
Arizona Bankruptcy Districts and Court Locations
There is only one bankruptcy district in Arizona and five court locations. Lets us find out the exact place you will go to for pursuance of a Chapter 13 Bankruptcy in Arizona.
| Court Location | Hours | Address |
|---|---|---|
| Phoenix | 8:30 a.m. to 4:00 p.m., M-F | 98 W 1st St, 2nd Floor Yuma, AZ 85364 |
| Tucson | 8:30 a.m. to 4:00 p.m., M-F | 38 S Scott Ave Tucson, AZ 85701 |
| Yuma | 8:30 a.m. to 4:00 p.m., M-F | 98 W 1st St, 2nd Floor Yuma, AZ 85364 |
| Flagstaff | Court hearings are generally held monthly. | 123 N San Francisco St Flagstaff, AZ 86001 |
| Bullhead City | Court hearings are generally held every other month. | 2225 Trane Road Bullhead City, AZ 86442 |
Should I pursue a Chapter 13 Bankruptcy in Arizona?
A Chapter 13 bankruptcy in Arizona is a legit choice for people who are overwhelmed by debts and don’t either want or qualify for a Chapter 7. Other options, apart from bankruptcy, include debt settlement and debt management. It is in your best interest to weigh the advantages and disadvantages before deciding. We have a Chapter 13 calculator to compare the available options, offer the pros and cons. You can utilize the calculator or conduct personal research about the choices at hand. Debt can cause endless frustration; therefore, we believe that this article has been invaluable in helping you on the path to being debt-free.
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