Free Consultation 24 Hour Response
Call for a free consultation Call Today
Local (480) 498-8998

Bankruptcy Services & Process

Request Free Consultation
grand canyon

This page describes the services Stone Rose Law provides for bankruptcy cases. This also describes the bankruptcy process, the documents we will need from you, and answers questions many people have about bankruptcy.

Bankruptcy Pricing

Bankruptcy TypeAttorney FeeCourt Fee
Under Median Chapter 7Quoted$338
Over Median Chapter 7 Quoted$338
Corporate Chapter 7   Quoted$338
Chapter 13*$1500 – $2500$313

*Chapter 13 cases are billed at the flat rate of $4500/$5500. Payment plans are available. Fees must be paid upfront before filing.

Premium Services Included

Credit Reports ($50.00 value): We will contact all three credit bureaus (Equifax, Experian, and Transunion). We will also provide you with public record search at no extra cost.

720 Credit Repair Program ($150 value): We automatically enroll you into a program to rebuild your credit score after bankruptcy. 

Credit Counseling & Post-Financial Management Course ($40 value): We cover the cost of the required pre-bankruptcy and post-bankruptcy courses with Evergreen Financial Counseling.

Reaffirmation/Retaining Debt): If you wish to keep your car or household item and keep paying on it, you may choose to reaffirm, renegotiate, or simply retain the debt. We will assist with this process.

Bankcruptcy Guide Chart

Frequently Asked Questions

What is the Pre-bankruptcy course?

As of 2005, all filers are required to take a pre-bankruptcy credit counseling course. If you’re filing with a spouse, you can take this together. 

The course is completed online, and you will receive the required certificate of completion. This is filed with your case. A similar post-bankruptcy course is required after. Our firm covers the cost of both courses. 

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Explained simply, in a chapter 7 case, your debts are wiped out (with certain exceptions), and you are not required to repay them. Chapter 7 cases are typically cheaper and faster to complete (~3 months). 

Chapter 13 is a repayment bankruptcy. You are required to pay back at least some debt, but usually not everything, unless your income is unusually high. This is something we will help you to determine from the start by analyzing your income and your options.

What will bankruptcy do to my credit score?

FICO Scoring ranges between 350 and 850. Individuals who are actively rebuilding credit after filing will recover to 650 within a few months. 

Most people generally recover to a 650 FICO score (considered “good”) within 1 year and a 720 FICO score (considered “very good”) within 2 years.

Can I obtain credit after filing bankruptcy?

Yes, you will qualify for credit immediately after filing. Interest rates will remain high until your score recovers. 

You can expect an influx of credit card offers after filing. If you are looking to finance a car, you will qualify after 30-60 days or sooner. We can refer to you our preferred dealerships before filing.

What is the Means Test?

The means test is required if your income is more than the median income. The bankruptcy court uses the means test to determine how much you may be required to pay back to creditors.

We will complete this form before your case is filed to determine whether you are eligible for Chapter 7. If you are not eligible, then we will review your income for a Chapter 13 repayment plan.

Income is determined by calculating your income over a full six months before the filing of your bankruptcy petition. The monthly average of those six months is then multiplied by 12 to determine your yearly income. This includes all sources of income except Social Security.

Median Income (effective November 2024)

Household SizeAnnual GrossMonthly Gross
1 Person$68,887$5,740.58
2 Persons$83,027$6,918.92
3 Persons$99,961$8,330.08
4 Persons$109,861$9,155.08
5 Persons$119,761$9,980.08
6 Persons$129,661$10,805.08
7 Persons$139,561$11,630.08
8 Persons$149,461$12,455.08

What Documents Do I Need to File?

  • Credit Counseling Certificate. Visit evergreenclass.com. Estimated time to complete: About one hour.
  • A photocopy of your driver’s license.
  • A photocopy of your Social Security card.
  • Copies of paystubs or other proof of your income (and spouse’s if applicable) for the past 7 months. 
  • Copies of your statements for all deposit and transfer accounts from the past 6 months.
  • Copies of your federal and state tax returns for the past two years.

Documents Needed Only if Applicable

  • Any lawsuits you have been a party to in the past two years.
  • If you have been divorced in the past six years, a copy of the divorce decree.
  • A copy of the title to any vehicles you own, Arizona MVD records, and proof of current insurance for each vehicle.
  • Social Security Income Benefit Letter or U.S. Department of Veterans Affairs award letter.
  • A ledger of child support, unemployment benefits compensation, or Arizona workers’ compensation for the past seven months.
  • Statements for any Individual Retirement Account (IRA), employer 401(k) account, or other retirement income you are receiving
  • Residential lease or mortgage statements.
  • Business documents, including profit and loss statements and tax filings.
  • An award letter for state benefits, including food stamps.

Documents Needed After Filing

  • Evidence that you have completed an approved post-bankruptcy credit counseling course. Visit Evergreenclass.com.  Estimated time to complete: About one hour.
  • Updated statements for each of your bank and transfer accounts, showing balances on the date of your petition filing.
  • Two pay stubs received after filing the petition.