Arizona Bankruptcy Laws

Need to File Bankruptcy in Arizona?

A layout of bankruptcy laws in Arizona is listed here, from Chapter 7 and Chapter 13 bankruptcy rules to rules on property exemptions. Become better acquainted with Arizona bankruptcy laws and bankruptcy in general by consulting with a bankruptcy attorney licensed in Arizona.

A bankruptcy attorney will provide you specifics on the state laws the effect your case.

A personal consultation will better familiarize you with bankruptcy law and allow you to select the best option for you.

To make an appointment with a bankruptcy attorney in Arizona fill out the convenient form below.

Arizona Bankruptcy Law

During your initial consultation with your Arizona bankruptcy attorney you will learn all of the important differences from Chapter 7 and Chapter 13 bankruptcy.

Within this consultation your bankruptcy attorney will ask you a many personal finance questions or provide you with a profile sheet to list specific details regarding your finances. The answers you provide should assist you and your attorney in deciding if filing Chapter 7 or Chapter 13 bankruptcy is appropriate for you.

Chapter 7 bankruptcy is usually called liquidation as the bankruptcy trustee may choose to sell or auction non-exempted property (see State Exemptions list below).

However, in the majority of Chapter 7 bankruptcy cases, the individual filing bankruptcy owns no non-exempt property, so this would not apply to most filings. Provided you do not own much property or have many assets Chapter 7 bankruptcy may be the better choice since you could discharge most of your unsecured debt.

Before filing Chapter 7 bankruptcy please discuss your situation with an Arizona bankruptcy attorney to determine how much property may be exempt from liquidation.

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Arizona State Exemptions

Homestead

Real property, including a condo, co-op or a mobile home, worth up to $150,000 in value is exempt.

Wages

75 percent of weekly disposable wages are exempt from liquidation in Arizona.

Automobiles

One vehicle of up to $5,000 fair market value is exempt. However, if the debtor is disabled the exempt vehicle may have up to a $10,000 fair market value.

Personal Property:

1. Up to $4,000 of household furnishings and appliances. Additionally, up to $500 in clothing is exempt.
2. Up to $2,500 of tools and equipment used for business.
3. Up to $500 of clothing.
4. Food, fuel and provisions are fully exempt.

Chapter 13 Bankruptcy is usually termed “reorganization”.  Individuals filing Chapter 13 may own more property and by filing Chapter 13 may also retain most assets.

In Chapter 13 bankruptcy, the debtor draws up a proposal for a repayment plan for a term of 3 to 5 years, which must be approved by a bankruptcy court.  This installment plan enables the debtor to repay existing bills.

Speak With an Arizona Bankruptcy Attorney Today

If you have pondered filing bankruptcy in Arizona you may not know where to begin or simply feel burdened by the bankruptcy laws.

To resolve any questions about the laws, an Arizona bankruptcy attorney will be able to walk you through the bankruptcy process in clear, simple terms. When you consult a bankruptcy attorney you will also be able to get many of your questions and concerns answered in the initial consultation.

We take the complexity out of finding a good Arizona bankruptcy attorney.  Just complete our free bankruptcy questionnaire on this page and we will connect you with an Arizona bankruptcy attorney in your locality.

Note: This is not legal advice. All bankruptcy laws in any state need the consult of a bankruptcy attorney licensed in that state. Consult a local attorney if you are seeking legal advice. Some or all bankruptcy laws may have changed since this page was created.

Arizona bankruptcy attorneys are available in the following cities:

PIMA COMMUNITY COLLEGE, CORTARO, FOUNTAIN HILLS, GLENDALE LUKE AFB, VALLEY FARMS, DAVIS MONTHAN AFB, DM AFB, PICACHO, I B M CORP, WADDELL, SUN CITY, BUCKEYE, GREEN VALLEY, SACATON, SAHUARITA, PEORIA, TUCSON, RILLITO, GOODYEAR, MESA, VAIL, CAVE CREEK, LITCHFIELD PARK, PARADISE VALLEY, MARANA, AVONDALE, QUEEN CREEK, LAVEEN, WIKIEUP, AJO, MOUNT LEMMON, TSN, LUKEVILLE, ARIZ CORRECTIONAL CTR, CATALINA, SUPERIOR, MEADVIEW, STANFIELD, TOLLESON, ARIVACA, SONOITA, YUCCA, GILBERT, MARICOPA, BUSINESS REPLY, GLENDALE, FORT MCDOWELL, LAKE HAVASU CITY, LK HAVASU CTY, SELLS, LAKE HAVASU CITY, SASABE, TEMPE, PHOENIX, SURPRISE, HIGLEY, BAPCHULE, TOPAWA, EL MIRAGE, ARIZONA MEDICAL CENTER, CHANDLER, SCOTTSDALE, APACHE JUNCTION, TONTO BASIN, ROOSEVELT, SUN CITY WEST, RIO VERDE, ARLINGTON, CASHION, ORACLE, MIAMI, PALO VERDE, WITTMANN, AGUILA, KEARNY, WINKELMAN, PERIDOT, TONOPAH, PINE, RED ROCK, NEW RIVER, GILA BEND, PAYSON, SAN MANUEL, CAREFREE, YOUNG, COOLIDGE, HAYDEN, APACHE JCT, ARIZONA CITY, CLAYPOOL, WHITERIVER, ELOY, GLOBE, CASA GRANDE, MAMMOTH, YOUNGTOWN, FLORENCE, KINGMAN, JEROME, PEACH SPRINGS, TEMPL BAR MAR, ASH FORK, PRESCOTT VALLEY, SELIGMAN, LAKE MONTEZUMA, LK MONTEZUMA , COTTONWOOD, LITTLEFIELD, DOLAN SPRINGS, CLARKDALE, CONGRESS, HUALAPAI, FORT MOHAVE, VALENTINE, PAULDEN, COLORADO CITY, TOPOCK, PRESCOTT, PRESCOTT VALLEY, PRESCOTT VLY , KIRKLAND, CHINO VALLEY, WILLOW BEACH, MORRISTOWN, MESQUITE, CAMP VERDE, MAYER, YARNELL, CORNVILLE, BAGDAD, BULLHEAD CITY, GOLDEN VALLEY, MOHAVE VALLEY, SKULL VALLEY, HACKBERRY, CHLORIDE, OATMAN, RIMROCK, WICKENBURG, BLACK CANYON CITY, IRON SPRINGS, DEWEY, CROWN KING, HUMBOLDT, SEDONA