Our clients throughout Maricopa County frequently come to us after many sleepless nights filled with anxiety and stress. There are few situations that are as worrisome as having no financial ability to cope with a stack of foreclosure and collection notices. While it is not uncommon for people to struggle trying to pay just enough to keep the wolves at bay, eventually balances grow, interest accrues, and financial problems often spiral out of control. We know that sometimes it can feel that attempts to regain control of your financial life are futile. Despite your feelings of desperation and hopelessness, there are usually financial options that can help you avoid the loss of your home and neutralize aggressive collection efforts that may be impeding your ability to care for your family. At the Maricopa County law firm of Stone Rose Law, we have helped people throughout Maricopa County facing many adverse financial situations including:
When you are facing the stress and pressure of serious financial hardships, you are particularly vulnerable because you are desperate for financial relief. Many creditors will claim that they have workout plans but these are usually blind alleys that provide no real improvement to one’s actual financial situation. Our experienced Maricopa County bankruptcy attorneys at Stone Rose Law have helped many people find genuine and effective solutions in the bleakest and pressing financial crisis. We know you may feel fear, anxiety, and uncertainty about the future, but our job is to help ease those concerns and the underlying financial pressures that you are experiencing.
At Stone Rose Law, our attorneys are committed to providing cost-effective legal representation and innovative financial solutions to clients faced with overwhelming financial challenges throughout Maricopa County. Our clients commonly tell us after receiving bankruptcy relief that they feel as relaxed and worry free as they have in years. Clients also frequently regret their decision to wait so long before obtaining legal advice and relief from oppressive financial hardships. Some people delay because they feel like the situation is hopeless and would rather simply close a blind eye to the problem. Other clients are uncomfortable asking for help.
The bottom line is one phone call can go a long way to providing for one’s family and obtaining financial prosperity and security. While our Maricopa County law firm files many bankruptcies for our clients, our goal is to guide our clients to financial success and security not to simply file bankruptcies. In other words, bankruptcy is a means to an end – your long-term financial wellbeing. There are many reasons that people seek bankruptcy relief that may include both unanticipated emergencies and unavoidable overspending to cope with financial challenges. Some of the most common reasons that our Maricopa County clients seek bankruptcy assistance include the following:
Even the most careful planning cannot prevent some adverse financial situations that may include sudden unexpected emergencies and over reliance on credit to cope with negative economic conditions in Maricopa County. Almost 6000 people a day must file bankruptcy in the U.S. so no one is immune from prolonged periods of recession and unemployment. We have represented people who have owned successful businesses with substantial assets and wealth but fell victim to poor economic conditions. It is unfortunate that so many people who would benefit from bankruptcy delay a decision to seek help because they feel that they are alone. The reality is that many families in the U.S. are having a hard time making ends meet as evidenced by the fact that forty percent of all households spend more than they earn.
At Stone Rose Law, we offer carefully considered legal advice and innovative debt reduction solutions designed to meet your individual needs. We have provided debt relief assistance to families throughout Arizona so that families can get control of their finances and protect their home and other valuable assets. Our experienced team of Maricopa County bankruptcy attorneys has helped individuals and families just like you eliminate staggering debt loads and protect their most valuable assets.
One reason that many people delay seeking Chapter 7 bankruptcy relief is a fundamental misunderstanding of how Chapter 7 works. We receive calls from people throughout Maricopa County and the surrounding counties who presume that if they file bankruptcy, they will lose most of the property and assets that they have worked so hard to acquire. However, the vast majority of our clients keep all or virtually all of their property in most Chapter 7 bankruptcies that we file. Our law firm does not view filing bankruptcy in isolation but in the context of your overall financial health. Our role is to determine if bankruptcy is the appropriate option for your individual financial situation and develop an overall approach that will provide the best long-term financial outcome for you and your family.
Basically, Chapter 7 Bankruptcy permits one to eliminate most of one’s debts that is not secured. This means that debts like your mortgage or car loan that are subject to a lien may not be discharged in a Chapter 7 bankruptcy. Debts that are dischargeable include obligations that are not tied to a security interest including unsecured credit lines, credit card balances, amounts owed for medical treatment, judgement on non-secured obligations, cell phone or utility bills and other similar debts. A person’s financial obligation to pay such debts is completely terminated once a Chapter 7 bankruptcy discharge is received so that the creditor cannot take any action to enforce the debt because it legally no longer exist.
Sometimes it takes a fair amount of analysis to determine if a Chapter 7 Bankruptcy is the appropriate approach. It is important that all of your assets be considered carefully to confirm that you do not have any significant assets that are not exempt. If the assets are not exempt, then the Trustee can liquidate those assets to pay creditors. Even if you have assets with substantial value, you may still be able to seek bankruptcy relief but may need to use a Chapter 13 bankruptcy, which involves repaying creditors over a 3 or 5 year time span.