AZ Bankruptcy

2007-09-25 14:12:16

( Legal )



Declaring an AZ bankruptcy may be an easy way to stop your creditors from collecting payments but it should be your last resort when financial crisis comes. Before you think of filing a bankruptcy case, you may consider other options first. A financial expert or a loan adviser may help you deal with this by posing as a mediator between you and your creditors to lower interest or make the terms more flexible. Or they can simply assess your finances to help you get a debt consolidation loan or a credit counseling plan. Whichever suits your situation and finances best.

Should these processes fail to get you back in shape, you can seek the assistance of an AZ bankruptcy lawyer to get started with your case. Your attorney will guide you through specific laws to speed up the process of your case and get the most out of this situation. He can provide enormous assistance in getting paper works done, in filing the case, during hearings and in every phase of the process.

While bankruptcy laws are essentially the same for all states, an AZ bankruptcy may be different from a Dallas bankruptcy or a Los Angeles bankruptcy in some terms. Exemptions, for examples, may vary depending on the state’s existing bankruptcy laws. These laws are changing so you need to refresh yourself with the current laws or let your attorney remind you of such. The list of exemptions is very important so you can save your properties that could have been included in your bankruptcy case. To determine the state that covers rules of your exemptions, you must have lived in that particular state for the last two years before filing for bankruptcy. If you have lived in two or more states between this period, you will use the one where you resided for the majority of 180 days prior to the case.

These are just some of the essential information regarding AZ bankruptcy. As it can determine your financial situation for a long time, you need a competent financial adviser and bankruptcy lawyer to bounce back. More importantly, you need to make your own financial assessment to avoid bankruptcy again.


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