{"id":4440,"date":"2022-07-25T10:41:37","date_gmt":"2022-07-25T10:41:37","guid":{"rendered":"https:\/\/phoenixfreshstartbankruptcy.com\/?page_id=4440"},"modified":"2023-03-20T12:44:45","modified_gmt":"2023-03-20T12:44:45","slug":"filing-chapter-7-bankruptcy","status":"publish","type":"page","link":"https:\/\/phoenixfreshstartbankruptcy.com\/filing-chapter-7-bankruptcy\/","title":{"rendered":"Filing a Chapter 7 Bankruptcy: Basic Steps"},"content":{"rendered":"

Chapter 7 Bankruptcy Attorney in Phoenix, AZ<\/span><\/h2>\n

The past few years have not been easy on the wallet. The pandemic, rising prices, low income, and employment problems, among many others, have pushed many Americans to despair. Bankruptcy is one of the best options for relieving financial burdens and getting a second chance at a secure financial future. <\/span>Our Chapter 7 Bankruptcy Attorneys at Phoenix Fresh Start<\/span><\/a> is here to help you take that first step on your renewed journey. <\/span><\/p>\n

What is Chapter 7 Bankruptcy?<\/span><\/h2>\n

Another name for <\/span>Chapter 7<\/span><\/a> is a liquidation bankruptcy. In this case, a trustee buys the debtor’s nonexempt assets and sells them to pay creditors. After filing for bankruptcy, your unsecured debts are then discharged.<\/span><\/p>\n

Bankruptcy Legalese<\/h3>\n

Throughout the bankruptcy process, you’ll come across plenty of terms that may not be familiar to the average person. We’ve compiled the ones you’ll come across the most when you file for bankruptcy.<\/span><\/p>\n

Bankruptcy discharge<\/h4>\n

In bankruptcy, discharge means you no longer have any personal liability for your debts. In other words, <\/span>you don’t have to pay them anymore. <\/b>Not all types of debt can be discharged, so it’s best to ask a trusted Chapter 7 bankruptcy lawyer so you know whether your debt qualifies for a discharge. <\/span><\/p>\n

Automatic Stay<\/h4>\n

An automatic stay is a bankruptcy court order that stops all collection efforts. This includes collection calls, wage garnishment orders, and lawsuits. <\/span><\/p>\n

Means Test<\/h4>\n

The means test is how it’s determined whether you can file for bankruptcy. It takes the median income of an Arizona household and compares it to your income. If your monthly payment exceeds the median, you qualify for a Chapter 7 bankruptcy. Calculating this can be complicated. Luckily for you, our Phoenix Chapter 7 bankruptcy attorneys have the tools to determine whether you qualify via the means test. Call our office now to schedule a consultation!<\/span><\/p>\n

Steps to Filing Bankruptcy in Missouri<\/span><\/h2>\n

\"How<\/b>Collect Your Arizona Bankruptcy Documents<\/h3>\n

As with any legal case, Chapter 7 bankruptcy filings involve a lot of paperwork. Here is a list of documents you’ll need: <\/span><\/p>\n

Here are the required documents:<\/span><\/p>\n