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Bankruptcy
Phoenix, Arizona, 85012
Michael Gerity, an attorney located in the heart of Arizona's business district, has served individual and business clients in Phoenix and throughout Maricopa County for more than two decades. During that time, he and his firm have built a strong reputation for professionalism and integrity. Drawing on our wealth of experience, we provide reliable counsel and aggressive court representation for a variety of legal circumstances, including all aspects of business, estate planning, and consumer bankruptcy.
Some people mistake bankruptcy as being a catch-all process. A few people simply assume there is only one type of bankruptcy and it mimics what you would see in the board game, Monopoly. While there are many types of bankruptcies, there are two that are primarily geared at everyday people: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Each of those types of bankruptcies has its own set of rules, regulations, and requirements needed to file. Chapter 7 bankruptcy is often referred to as liquidation bankruptcy. Liquidation, in the sense of bankruptcy, means that you would have to sell off or turnover assets of value that can help you pay off your debts. This can be especially helpful when phone calls from creditors never end and you want a completely fresh start. Chapter 7 bankruptcy requires you to be below a certain income threshold to qualify. Chapter 7 bankruptcy may not be right for everyone, so it’s very important to consult with a bankruptcy attorney to make sure whether you qualify or if Chapter 7 bankruptcy is right for you.
Another type of bankruptcy is Chapter 13 bankruptcy. Instead of liquidating your assets and using that to pay off your creditors, in Chapter 13 bankruptcy, you will come up with a repayment plan stemming from the amount of debt you have about the income that you will present to the bankruptcy court for approval. You may not be given help when trying to figure out an effective repayment plan so having a trusted zero-down bankruptcy attorney by your side will give you an edge in drafting a cost-effective repayment plan that not only supplies your creditors with ample funds but gives you the flexibility to continue living a reasonable lifestyle. Debt evaluation may be necessary to pinpoint just how much your monthly payments should be in your repayment plan. Unsecured debts in a Chapter 13 bankruptcy are consolidated and paid off using the approved repayment plan you propose. The major difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy is the ability to retain your property in Chapter 13 bankruptcy.
Chapter 13 bankruptcy is useful if you are facing foreclosure on your home as the bankruptcy itself stops the foreclosure. Your repayment plan may include ways to make up any missed mortgage payments and can ultimately end up saving your home. If you are unsure which type of zero-down bankruptcy is right for you, consult with the law office of trusted zero-down bankruptcy lawyers to clarify which option is right for you. Remember, with a zero-down bankruptcy, you have the luxury of being able to have world-class legal counsel on your side with zero money needed upfront. Not having to pay legal fees immediately can be critical when your finances are in a bind. The flexibility of zero-down bankruptcy plans can be a valuable tool in your journey toward financial freedom.
Dealing with bankruptcy hearings, handling paperwork, and stressing about the unknown can make your life miserable if you don’t have the proper help and guidance. Imagine not having to worry about the little details that make the difference in a bankruptcy. Imagine your road to debt relief being paved by a trusted bankruptcy attorney that has your best interests in mind. You don’t have to imagine. Simply reach out to the bankruptcy law firm of Israel & Gerity, PLLC for experienced representation in your bankruptcy case. Israel & Gerity, PLLC offers a 0-down bankruptcy program to give you a chance at starting fresh without paying an arm and a leg. With no need to pay legal fees, Israel & Gerity, PLLC can give you advice right away about what options may be best for you. Debt relief may only be a phone call away. Contact Israel & Gerity, PLLC, and ask about the 0-down bankruptcy program today.
