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Bankruptcy Basics

Don't Let a Fear of the Unknown Take Away Your Fresh Start

Bankruptcy is a very broad and often confusing area of law for people who have never been through the process before. In some cases, that confusion can create anxiety that keeps the people who could benefit from bankruptcy the most from further exploring everything that filing could do for them.

At Thompson Law Firm in Chandler, Arizona, our lawyers are committed to helping as many people as possible improve their lives through bankruptcy. We help individuals with consumer filings under Chapter 7 and Chapter 13 bankruptcy, as well as representing businesses in Chapter 11. You can rely on us to do everything in our power to help you secure the fresh start you need and are entitled to under the law.

Understanding How Bankruptcy Works

We are committed to open and honest communication with every client we serve. We gladly answer any questions you may have and provide full disclosure when it comes to issues such as the pros and cons of bankruptcy and letting you know what bankruptcy can and cannot do for you.

Learn more about some key bankruptcy basics by using the following links:

  • Discharge of debt: Receiving a discharge means that your personal responsibility to repay the debts included in a bankruptcy filing is gone.
  • Exemptions in bankruptcy: Don't think that you are going to lose everything in bankruptcy. The law protects many critical assets such as a car, dwelling and home furnishings.
  • Means testing: Your level of income can impact which chapter of the Bankruptcy Code you should file under. We will walk you through the testing process and help you understand your debt relief options.
  • Tax issues in bankruptcy: We can help you understand your rights with regard to the dischargeability of tax debt in a bankruptcy filing.

Schedule a Free Consultation With an Arizona Attorney

Contact our office today to learn more about our bankruptcy services and what we can do to help you. We offer a free one-hour consultation to all new clients. We are available during regular business hours from 8:30 a.m. to 5:30 p.m. Monday through Thursday, from 9 a.m. to 1 p.m. on Fridays and by appointment. You can reach us toll free at 800-584-1803 or via e-mail.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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Bankruptcy Homework

If you don't pay past due bills, it may lead to creditor harassment. Ignoring the demands of these collectors will negatively impact your credit rating.

Financial duress is created by a vicious cycle of more money going out than is coming in. The bills pile up, relationships suffer, and the family struggle worsens every time a new overdue statement comes in the mail. If this sounds like a familiar scenario contact us

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