For individuals and businesses, there are three primary types of bankruptcy under the U.S. Bankruptcy Code:
In Arizona, there were a total of 22,073 bankruptcy filings in 2013, compared to 27,298 in 2012—a decrease of 19%. The overwhelming majority of bankruptcy filings in both years were under Chapter 7 (basic liquidation). In Chapter 7, a debtor surrenders his or her non-exempt property to the bankruptcy trustee who then liquidates the property and distributes the proceeds to the debtor’s unsecured creditors. The amount of property that a debtor may exempt is set by Arizona law. At the conclusion of a Chapter 7 case, a debtor generally is granted a discharge of his or her dischargeable debts.
The attorneys at Loose, Brown & Hobkirk, P.C. represent individuals and businesses in bankruptcy proceedings, both as creditors and as debtors. When representing debtors, Loose, Brown & Hobkirk, P.C. provides counsel and representation necessary to navigate the client through the bankruptcy process. When representing creditors, Loose, Brown & Hobkirk, P.C. fights to protect the rights of the individual or business that is owed money. Regardless of which side of the case Loose, Brown & Hobkirk, P.C. is on, our attorneys provide knowledgeable, experienced, and cost-effective representation.
For your convenience, please click the following links for Bankruptcy Forms.
© 2017 Loose, Brown & Hobkirk, P.C. All rights reserved.