Debt Reorganization ∙ Chapter 13 Bankruptcy
Debt problems are not limited to people with no or low incomes. In fact, many people with serious debt problems have steady incomes. If you are facing serious debt problems, but bring in a steady income every month, you might consider Chapter 13 bankruptcy. This is an option that allows debtors to reorganize and repay some of their debts over a three-year or five-year period, thus keeping many of the assets on which they owe.
Contact us. We can help you determine whether you qualify for Chapter 13 bankruptcy. The Arizona Chapter 13 eligibility lawyers, paralegals and support staff of the Law Offices of Farnsworth Mortensen, PLLC, have been helping debtors find debt-relief solutions for more than 20 years. We can help you.
More than 10,000 bankruptcies filed
Phoenix Chapter 13 Bankruptcy ∙ Qualifying for Chapter 13
Chapter 13 is a common bankruptcy option for people who do not qualify for Chapter 7 bankruptcy because their incomes are too high for them to pass the bankruptcy means test. To qualify for Chapter 13:
- Your unsecured debts must be less than $360,475
- Your secured debts must be less than $1,081,400
- Your income must be sufficient to pay your debts over the repayment plan period
There are other requirements to Chapter 13 eligibility, as well. With more than 35 combined years of experience, our lawyers are well versed in Chapter 13 bankruptcy. We can help you determine whether you are eligible, explore other bankruptcy and debt-relief options that might better fit your needs, and walk you through the entire bankruptcy process. Our firm's commitment to our clients, shared by our entire legal team, is to provide thorough debt-relief representation that is tailored to each client's unique financial needs. We will help you find the solution that works best for you.
Contact Farnsworth Mortensen ∙ Free Initial Consultations
Serious debt problems can cause a great deal of anxiety and fear. The most important thing you can do is get information. If you know what you are facing and the solutions available to you, you can face the problem head on and regain control of your financial future. We offer free initial consultations, so you can talk with one of our lawyers in a confidential setting and get an initial understanding of the bankruptcy process. Call 480-820-3600 in Phoenix, 520-298-3300 in Tucson, 888-634-0000 toll-free, or contact us online to schedule your free initial consultation with an attorney from our firm.
