Bankruptcy

No Chapter 13 Bankruptcy For You, Me Boyo!

By Joseph McDaniel, Esq.

Just not since 2005, when the cost/benefit ratio for Chapter 13 cases changed radically.

I point out that Chapter 13 cases are waaaaaaaaaaay more expensive in the five years (or three years, if you're lucky) that you're stuck in debtor purgatory before you get your Chapter 13 Discharge in Bankruptcy Court in Arizona, and that Chapter 7 Cases are, by comparison, a walk in a pretty, pretty park.

Now, some Arizona bankruptcy lawyers will, I've heard, try to stick you in a Chapter 13 no matter how painful for the debtor; the fees are higher, you see, and the bankruptcy lawyer can get paid the higher fee over time, through the Chapter 13 Plan. But frankly, there are few cases these days where a superior result for the debtor is obtained in a Chapter 13 bankruptcy, since the Superdischarge vanished from the Chapter 13 list of benefits.

And heeeeeere's the video!

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on August 21, 2010 (boomark / email).