As someone begins to face financial difficulties, they generally try to do everything in their power to overcome those problems and get their financial problems under control. However, with wages being garnished, creditors circling and assets under threat of forfeiture, Arizona residents may want to consider easing their monetary problems by filing for bankruptcy.
As mentioned last week on the Mesa Bankruptcy Law Blog, even though most debts are wiped out during bankruptcy, one should not assume that all of them are and it is important to distinguish between them. In addition to this, it is also not correct to assume that all assets will be forfeited during bankruptcy.
In addition to clarifying which debts can be discharged through bankruptcy, lawyers at our firm also try to find the best possible course of action to ensure the least amount of asset forfeiture takes place. By helping Arizona debtors understand what different types of property can be saved under different chapters of bankruptcy, lawyers at our firm not only try to protect assets but also help debtors anticipate what the future will look like. Lawyers at our firm understand that financial problems arise for a myriad of reasons and that hardworking people are struggling to make ends meet on a daily basis and bankruptcy can provide them the reprieve they are desperately seeking.
It may not be easy to come to the decision to declare bankruptcy, but once the decision is made lawyers at our firm can guide debtors through the process and try to get them the fullest extent of protection available under the law. For more information about what assets can be protected during bankruptcy proceedings, visit our website.