Mesa Bankruptcy Center

Arizona Chapter 13

Who Files Arizona Chapter 13 Bankruptcy

Debtors who need some extra help to pay their debts often find that Arizona chapter 13 bankruptcy is the best solution to their problems. This type of bankruptcy is best suited for debtors who have a reliable income and find themselves with more debt than they can handle. Chapter 13 bankruptcy is best for people who want to pay their debts but need a little extra help. If that sounds like you, than Arizona chapter 13 bankruptcy might be the best way for you to resolve your debts.

How Does Arizona Chapter 13 Bankruptcy Work

Arizona chapter 13 is known as a restructuring of debt. When a person files this type of bankruptcy he or she must not have to give up any of their assets. They will review the debts and their income with their attorney and come up with a payment plan that will work for your situation and submit it to the court. These payment plans normally last for 3-5 years. During that time you make payments according to the court approved plan. At the end, the court discharges any eligible remaining debt.

Chapter 13 Requirements

Debtors who wish to file this type of bankruptcy must provide proof of United States residency as well as details on household income, living expenses and debts. The court may refuse debtors who have low incomes or high living expense requirements. Arizona chapter 7 bankruptcy is an alternative to debtors who are rejected for chapter 13.