No one plans to file for bankruptcy - but life doesn’t always go as planned.
We know that the events and circumstances that drive an individual to seek out financial help are unique, with no one case being identical to another. That is why our bankruptcy services focus on you and your concerns - whether you're in Tempe or anywhere in the East Valley.
Unexpected job loss, medical expenses, divorce, student loans, and overspending are just some reasons individuals and families seek bankruptcy services in Tempe.
Recent statistics from U.S. bankruptcy courts show that nearly 97% of bankruptcy filings are for individuals rather than businesses. Beyond that, there were nearly 1 million annual bankruptcies filed as recently as 2016. At The Peterson Law Firm, we are dedicated to helping individuals who have been negatively affected by unexpected life events.
Our Arizona bankruptcy lawyers are accessible and work with you to determine the best plan of action for your case. Rather than resorting to bankruptcy as the first option, we explore alternative solutions. We also review all available options and choose the most effective strategy to settle your debts.
Bankruptcy and debt carry a stigma, making it hard for individuals to accept their situation and even harder to ask for help. Many people are under the impression that if they file for bankruptcy, everyone will find out about it.
This is a common misconception. Prominent individuals and major businesses or corporations can understandably experience much more public bankruptcies. But for you or any normal person, the only people who will typically know about your financial situation are your creditors.
Some fear bankruptcy, thinking it will permanently prevent them from getting or rebuilding credit. This is not necessarily the case. A company considers many factors when deciding to extend credit to an individual.
If a person has declared bankruptcy, this is certainly a factor that companies will consider. However, those companies also look at the amount of time that has passed, the current credit score of the individual, and several other factors.
There are many other misunderstandings regarding bankruptcy. Some people are under the impression that if they declare bankruptcy, they will lose everything they own. These people operate with the idea that their creditors or the government will be able to swoop in and take their homes, cars, clothing, and even grocery money.
This idea is enough to scare anyone away from filing. An experienced lawyer for bankruptcy at The Peterson Law Firm can help you understand Arizona’s bankruptcy laws. Once you sit down with us, we can explain how to manage bankruptcy while still retaining important assets like your house, car, and other vital items.
Filing for bankruptcy can feel overwhelming, especially without the guidance of an experienced lawyer for bankruptcy by your side. Come talk with us to evaluate your options and find the most efficient way to manage your debts based on your needs.
There are several different chapters or types of bankruptcy, but at The Peterson Law Firm, we specialize in Chapter 7 and Chapter 13 of the bankruptcy code. Each of the different chapters of bankruptcy serves a distinct purpose and outlines the unique requirements and policies applicable to that chapter.
It is important to remember that, depending on your financial situation, one type of bankruptcy may be more beneficial than another. More importantly, there are specific requirements that have to be met to determine which chapter of the code will control your bankruptcy.
If you’re considering this, choose a top Arizona bankruptcy lawyer who stays accessible and understands your financial situation. That is what you will find at The Peterson Law Firm.
Book A Free ConsultationAside from Tempe, we also provide personalized bankruptcy services in nearby East Valley communities:
What you may lose depends on the type of bankruptcy you file. In many situations, exemptions let you keep key assets like your home, car, retirement accounts, and other essentials.
Chapter 7 usually takes between 4 and 6 months, whereas Chapter 13 can take anywhere from 3 to 5 years to finish. The timeline depends on your financial situation and the chapter filed.
Yes, bankruptcy may impact your credit and ability to take out loans for a short period. However, many clients rebuild their credit within a few years and enjoy long-term financial relief. Our bankruptcy services are designed to help you recover with a clear plan for financial stability.
In Arizona, Chapter 7 cases are usually completed in a few months. Chapter 13 cases can take several years, depending on the repayment plan approved by the court.
Absolutely. With the right strategy and support, many individuals fully recover—some even improve their financial health by eliminating debt and rebuilding credit responsibly.
From understanding your options to protecting your assets, we’re here to support you through every step of the bankruptcy process. You can trust our lawyers for bankruptcy to provide the guidance you need to make the best possible decision for your case.
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We value each and every one of our clients, employees, friends, and neighbors. Together, we have a social responsibility as a community partner to take proactive measures to keep our community well and to help stop the spread of COVID-19.
Our office will remain open during regular business hours. However, we are implementing some additional precautions to limit social interactions and personal proximity. Specifically, we will seek to conduct consultations, meetings, conferences through video teleconferencing or on the phone whenever possible. Should an in-person appointment be needed, then we will coordinate those on an appointment basis.
If you have questions about your case and the status of the court, then please call. Our Firm will continually monitor the status of the coronavirus, so we are prepared to resume normal operations as quickly as possible.
From all of us at The Peterson Law Firm, please stay well.
