Bankruptcy Law

Our law firm will help you reset

"I can't pay my bills."

"I'm afraid I'll lose my home."

"What if I can't keep my car? I can't work."

"Will I ever have good credit?"

"Isn't this a last resort?"

For many people, it's time for a financial reset. Bankruptcy may have once been a dirty word, but in this day and age, it's just a means of reorganizing or eliminating debt. Bankruptcy attorney Whitney Coats and the legal team at Brown, Naegle, Crider & Jensen LLC can help you out from under the weight of what you owe.

Understanding bankruptcy

There are two typical types of individual bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy. The main difference between the two is that Chapter 7 bankruptcy allows you to eliminate unsecured debts entirely, whereas Chapter 13 bankruptcy reorganizes debts and gives you additional time to pay back your creditors.

The laws surrounding both Chapter 7 and Chapter 13 bankruptcy are complex, and you may not be sure whether you qualify for each option. What's important to understand is that if you are overwhelmed by debt, there is likely a way out. Our attorneys can help you understand your options during a free consultation.

Common misconceptions about bankruptcy

Myth: Bankruptcy will ruin your credit forever. Bankruptcy remains on your credit report for seven years. While this may seem like a long time, the truth is that continuing to struggle with overwhelming debt will likely harm your credit for far longer. Discharging or reorganizing your debt through bankruptcy may be the first step toward eventually rebuilding your credit.

Myth: Bankruptcy is just for lazy people. Nearly one million people declare bankruptcy every year, and most of them are hardworking people. Circumstances beyond the debtor's control, such as medical bills, often lead to bankruptcy. Others are victims of predatory lending schemes. And some people declare bankruptcy because of honest mistakes.

Myth: Bankruptcy will cause you to lose your home, your vehicle or other prize possessions. While you may have to liquidate some assets, depending on the type of bankruptcy, the goal is not to leave you destitute. The goal of bankruptcy is to help you rebuild your life, and taking away your home or your car is not likely to help achieve that goal.

This may be your lifeline. We can help.

No one expects to end up declaring bankruptcy. But we've seen many times that this financial reset can be a key step toward building a happier, financially stable life. If your debt is overwhelming and you're considering declaring bankruptcy, contact us today. We can help.

3850 E Baseline Rd Suite 112
Mesa, AZ 85206
local phone: (480) 378-9000