Trusted Name, Quality Representation
When You're in Need. We're Here. Have you found yourself in a difficult situation? Have you found yourself in Chapter 7 or 13? 

Folger Law Firm has been helping clients in Phoenix and the surrounding areas since 2014. We can walk you through the necessary steps in your Bankruptcy case and guide you through to the other side of the process.

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  • Auto Accident - Settlement $3,600,000
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Phoenix Bankruptcy Lawyers

Helping Clients Achieve Financial Recovery with Dignity

Contemplating bankruptcy can be scary, especially when you aren’t sure what to expect. It can seem as if the bankruptcy process is shrouded in mystery. Most people do hear much about bankruptcy aside from the occasional news report covering the bankruptcy filing of a large corporation or a celebrity filling for legal protection to reorganize their debt. So, what does it all mean, and how do you know if you’re headed for a similar fate? If your income is no longer keeping pace with your debts, bankruptcy may be an option you should consider. Large debts, like surprise medical expenses or missed mortgage payments, can send your financial health into a downward spiral.

In many instances, bankruptcy:

  • Provides consumers with reduced or total debt elimination
  • Offers protections to allow debtors to stay in their homes
  • Creates an avenue for paying creditors on better payment terms

If those benefits sound amazing, you should be aware they come with some very painful consequences. Bankruptcy will stay on your record for seven to ten years, depending on how you file. A bankruptcy on your record can mean fewer job options, difficulties seeking new credit, and other financial hardships. It’s important to review your options and meet with our Phoenix bankruptcy lawyers to ensure you have all the information you need to make an informed choice.

To schedule a consultation with our Phoenix bankruptcy lawyers, call Folger Law Firm (602) 932-0552 or contact us online for help right now!

What is Bankruptcy?

Before choosing bankruptcy, it’s important to know what it entails. Bankruptcy is a process established by federal laws and provisions. When businesses and individuals have debts that they’re incapable of raising funds to cover, bankruptcy is used to provide debt relief and organization. Bankruptcy cases can be filed in any of the 94 federal judicial districts, and it’s important to remember that these cases cannot start in state court because federal courts have jurisdiction over bankruptcy cases.

Bankruptcy protections are available for individual consumers and business entities. The laws for both individuals and businesses can be found in chapters 7, 11, and 13 of the federal bankruptcy code. Bankruptcy law is written to provide debtors with a financial “do-over” by reorganizing, reducing, or relieving debt payments. The outcome of a bankruptcy filing will depend on how the case is filed. While some instances allow consumers to reorganize their debts, others may require payment via asset liquidation.

Consumer Bankruptcy: Chapter 7 & Chapter 13

Chapter 7 consumer bankruptcy protection allows debtors to discharge certain debts after asset liquidation managed by a court-appointed trustee. The court trustee will advise the liquidation of most nonexempt property. To qualify for Chapter 7 bankruptcy, a consumer must not have assets or income exceeding the regulated limit.

While many debts will be discharged, several types of debt cannot be cleared, including:

  • Child Support
  • Alimony
  • Student Loans
  • Specific Tax Debt
  • HOA Fees
  • Court Fees & Penalties
  • DUI/DWI Personal injury Judgements
  • Hidden Unsecured Debts

Chapter 13 bankruptcy is less complicated than Chapter 7, and debtors are usually allowed to keep the majority of their assets, depending on the plan approved by the bankruptcy court judge.

To qualify for Chapter 13 bankruptcy, debtors must meet the following requirements:

  • Enough Income to Meet Payment Plan
  • Meet the Maximum Debt Limits

Filing For Bankruptcy in Phoenix, Arizona

In Arizona, filing for bankruptcy can be complicated if you haven’t consulted with a Phoenix bankruptcy attorney. Legal counseling can help you avoid pitfalls and filing errors.

Typically filing for bankruptcy consists of the following steps:

  • Paperwork: You will need to source all the correct forms.
  • Financial Counseling: Before filing, you are required to take credit counseling
  • Complete Bankruptcy Forms: Fill out all the required forms.
  • File Your Request: File your request with the federal bankruptcy court in Phoenix
  • Contact Your Trustee: Depending on your case, you may be required to complete a questionnaire from the trustee in your case.
  • 341 Meeting: You must complete your 341 meeting before your bankruptcy can be considered legally valid.

A bankruptcy filing starts once a consumer files a petition in the appropriate court. The filing can be completed by a married couple, individual, or business entity.

The bankruptcy filing should include a complete financial disclosure with:

  • All Assets
  • All Liabilities
  • All Income Sources
  • Name & Address of Creditors
  • Total Debt Owed to Creditors

Once a bankruptcy filing is made, all debt collection ceases due to an automatic “stay” that is put into place immediately.

When a stay is in place, creditors must cease any outside recovery activity, including:

  • Lawsuits
  • Wage Garnishments
  • Collection Calls

In most individual bankruptcy cases, the debtor doesn’t have enough assets to liquidate and satisfy their creditors. So, these cases are typically granted a discharge of most of their debts without objection from their creditors. There are instances where a bankruptcy filing may be disputed and require litigation. Bankruptcy court litigation is unique to the debtor in question. Consumers may have challenges regarding the number of specific debts, whether a creditor should be discharged, or other payments and debt disputes.

20+ Years of Experience at Work on Your Behalf

At Folger Law Firm, we are dedicated to client services and personal attention. Bankruptcy is a stressful experience, and it’s easy to become saddened or disheartened about the situation you find yourself in now. We realize how hard the process can be for our clients, which is why we provide step-by-step legal assistance and all the guidance needed to get to the other side of the bankruptcy process. Our Phoenix bankruptcy lawyers represent consumers in your Chapter 7 and 13 bankruptcies.

To schedule a consultation, call the Phoenix bankruptcy attorneys from Folger Law Firm at (602) 932-0552. You can also contact us online for help right now!

The Opinions that matter most

We STrive to help our community, friends & Family
  • Exceeded Our Expectations!

    “Bryan exceeded our expectations, going way above and beyond. He was dedicated and devoted to our case, and we were well informed on the status throughout.”

    - Sara
  • Courteous & Responsive

    “Bryan has been very courteous and responsive with details about the case.”

    - Howell
  • Professional & Communicative

    “I was referred to Folger Law Firm by a good friend. Bryan was very professional and communicative. He kept me updated on my case every step of the way.”

    - Rebekah
  • I Was Able to Recover Without Worrying About Confusing Legal Stuff

    “Bryan was very patient when I was not, and his guidance along the way really helped lower my stress over the whole experience.”

    - Joshua
  • Bryan Is Really Good At What He Does- I Was Not Disappointed

    “Thanks to his knowledge, experience and exceptional thoroughness. We completed the process to a satisfactory conclusion.”

    - Client
We Take Your Personal Injury Case, Personally. Put 20+ Years of Legal Excellence & Experience On Your Side

What sets us Apart?

Trusted Name, Quality Representation.

  • 20+ Years of Legal Experience

    We understand how insurance companies and huge enterprises try to avoid liability. We aren't hesitant to go toe-to-toe with big corporations in order to ensure that our clients receive the compensation they deserve.

  • Personalized Attention & Carefully Curated Legal Plans

    Benefit from hiring an attorney that used to represent the insurance companies to fight for You. Injuries suffered in an accident affect not only the person injured, but also their family.

  • Experienced & Aggressive Representation

    Our firm provides experienced and aggressive representation to obtain the compensation our clients deserve.

  • Step-By-Step Legal Guidance

    The Folger Law Firm works closely with its clients, guiding them step-by-step through the entire claim process, reducing the stress on our clients and their families.