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Best Bankruptcy Attorneys in Glendale

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Allegrucci Law Office, PLLC logo
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Allegrucci Law Office, PLLC

20325 N 51st Ave, Glendale, AZ 85308
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

The Allegrucci Law Office, PLLC, helps clients in the Glendale area. The bankruptcy law firm provides legal counsel to individuals and businesses that require court protection from creditors. It helps prepare documents for the proceedings and files lawsuits against parties conducting unlawful collection. The law office's other practice areas include civil defense, divorce, taxation, and estate planning, which includes drafting wills and appointing powers of attorney. Sole practitioner David Allegrucci has been an attorney since 1987.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.5
Google
4.5 / 5 (26)
Avvo
5.0 / 5 (2)

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5.0
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Arizona Debt Solutions logo
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Arizona Debt Solutions

1838 W Bell Rd #102, Phoenix, AZ 85023
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  • Chapter 7 Bankruptcy

Business Description

Arizona Debt Solutions is a multi-practice law firm representing clients in Glendale and the surrounding areas. It assists individuals in resolving their financial burdens through debt relief options and filing of chapters 7 and 13 bankruptcy petitions. The firm has more than two decades of experience handling wage garnishment, creditor harassment, student loan workout, and repossession cases. Founding attorney David Freydin has represented consumers in over 10,000 cases in state and federal courts.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
5.0 / 5 (48)
Facebook
5.0 / 5 (5)

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5.0
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Bankruptcy Legal Cente Kahn & Ahart, PLLC logo
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Bankruptcy Legal Cente Kahn & Ahart, PLLC

301 East Bethany Home Road, Ste C-195, Phoenix, AZ 85012
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Kahn & Ahart, PLLC (Bankruptcy Legal Center™) is a bankruptcy law firm that represents individuals and small businesses in the surrounding communities of Glendale and Phoenix. The firm's areas of expertise include chapter 7, chapter 11, and chapter 13 bankruptcy cases, landlord protection, creditors’ rights, and mediation. Bankruptcy lawyers James F. Kahn and attorney Krystal M. Ahart have 55 years of combined experience in the law practice. Both are certified Bankruptcy Specialists by the State Bar of Arizona.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Avvo
5.0 / 5 (29)

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5.0
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Barski Law Firm logo
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Barski Law Firm

8700 E. Via de Ventura #140, Scottsdale, AZ 85258
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Barski Law Firm offers services for clients in Glendale who are facing bankruptcy issues. The company's attorney, Chris Barski, has been resolving a range of bankruptcy matters for more than a decade. Barski defends clients in bankruptcy cases, ranging from personal bankruptcy proceedings to reorganizing businesses and other related legal conflicts. He helps file bankruptcy to stop vehicle repossessions, wage garnishments, foreclosures, and creditor harassment. He handles chapters 7, 13, and 11 of the Bankruptcy Code.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (18)

Professionalism:

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5.0
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Brand and Associates, PLLC logo
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Brand and Associates, PLLC

4720 East Cholla Street, Phoenix, AZ 85028
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  • Chapter 7 Bankruptcy

Business Description

Brand and Associates, PLLC, has been offering assistance for individuals and businesses in Glendale and the surrounding areas for over 50 years. Its lawyers help clients overcome their financial problems by providing a resolution and guiding them throughout the legal procedure. The bankruptcy law firm handles chapters 7, 11, 12, and 13 filings for debtors who want to retain their assets, submit a repayment plan, prevent foreclosures, and achieve a fresh start without the obligation of debt.

Reputation:

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5.0

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5.0
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Compassionate Counsel logo
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Compassionate Counsel

3260 N Hayden Rd., Suite 210-1, Scottsdale, AZ 85251
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Debt Resolution

Business Description

Compassionate Counsel is a general practice law firm that offers debt relief solutions to individuals, families, and businesses in Glendale. The firm represents clients in debt negotiation and settlements as well as chapter 7 and chapter 13 bankruptcy cases. Its lawyers handle debtors to stop harassment from collection calls and develop customized legal strategies in approaching financial problems. Brant Hodyno founded the firm in 2016. Hodyno practiced international litigation and arbitration for corporate clients early in his career.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (50)
Yelp
5.0 / 5 (7)

Professionalism:

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5.0
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Ellett Law Offices, P.C. logo
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Ellett Law Offices, P.C.

2999 N 44th St #330, Phoenix, AZ 85018
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Ellett Law Offices, P.C, serves individuals in Glendale and the surrounding areas. Ronald Ellett, the firm's sole attorney, assists clients in gaining financial freedom and recovering from their bankruptcy issues by protecting their rights and guiding them throughout the legal process. He provides legal representation in chapters 7, 11, and 13 cases. He also deals with matters involving foreclosures and credit card debts. Ellett has been practicing law since 1989. He has argued cases before the Arizona Supreme Court and the Bankruptcy Appellate Panel.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7
Google
4.7 / 5 (86)
Facebook
5.0 / 5 (6)
Avvo
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Faith, Ledyard & Faith, PLC logo
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Faith, Ledyard & Faith, PLC

919 North Dysart Road, Avondale, AZ 85323
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Faith, Ledyard & Faith, PLC is a law office that serves families and individuals who are facing financial troubles in the Glendale area. The office has been offering bankruptcy representation services since 1979. It focuses on chapters 7 and 13, obtaining relief from wage garnishment, creditor harassment, and property foreclosure. The office also files chapters 11 and 12, reorganizing finances of businesses and small family farms, respectively. Other areas of practice include estate planning, criminal defense, and personal injury.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.4 / 5 (40)
Yelp
3.5 / 5 (7)
Facebook
5.0 / 5 (5)

(+1 additional source)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Greeves & Roethler, PLC logo
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Greeves & Roethler, PLC

4425 E Agave Rd, Suite 106, Phoenix, AZ 85044
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Greeves & Roethler, PLC, serves the Glendale area and the surrounding metros. Its lawyers assist clients in computing median income in determining whether a client fits the criteria to file for chapter 7 or 13 bankruptcy. They provide counsel and education that allow individuals to know the details behind Arizona's bankruptcy law and help them choose a payment plan for their needs. Founding attorney Scott Greeves previously worked for the Arizona Department of Revenue and as corporate counsel for a Michigan company.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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––
Law Office of Allan D. NewDelman, P.C. logo
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Law Office of Allan D. NewDelman, P.C.

80 E Columbus Ave, Phoenix, AZ 85012
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Law Office of Allan D. NewDelman, P.C. is a debt relief agency in the Glendale metro that renders solutions for a variety of legal concerns. Its team of bankruptcy attorneys provides representation for cases that involve chapters 7, 11, and 13 bankruptcy. It also helps with plans of reorganization, claims disputes, and adversarial matters. The practice's attorney, Allan NewDelman, has legal experience of more than 30 years. He is associated with the American Bankruptcy Institute.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.5
Google
4.5 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Law Office of D.L. Drain, P.A. logo
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Law Office of D.L. Drain, P.A.

2375 E Camelback Rd #600, Phoenix, AZ 85016
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

The Law Office of D.L. Drain, P.A., is a bankruptcy law firm that caters to the residents of Glendale. Diane L. Drain handles chapters 7 and 13 proceedings for a diverse clientele, including small businesses and individuals with college debts. She also provides representation in eviction proceedings and oversees creditor's rights matters. Drain is a former law professor who practiced and taught insolvency law. She emphasizes the use of alternative dispute resolution methods in place of litigation.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.6
Google
4.4 / 5 (71)
Yelp
5.0 / 5 (10)
Facebook
5.0 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Law Office of Mark J. Giunta logo
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Law Office of Mark J. Giunta

531 East Thomas Road, Suite 200, ​Phoenix, AZ 85012
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  • Chapter 13 Bankruptcy

Business Description

Law Office of Mark J. Giunta is a firm that has been serving Glendale since 1999. It represents creditors, debtors, and parties in interest in different phases of bankruptcy cases involving chapters 11, 13, and 7. Its legal team assists plaintiffs and defendants in adversary proceedings before bankruptcy courts, such as avoidance actions and parties to nondischargeability. One of the firm's practitioners, Liz Nguyen, represents clients in state and federal courts. She is on the Board of Directors of the Arizona Asian American Bar Association.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.3 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Leonard V. Sominsky, ESQ., PC logo
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Leonard V. Sominsky, ESQ., PC

3839 N. 3rd Street, Suite 301, Phoenix, AZ 85012
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Leonard V. Sominsky, ESQ., PC is a law firm that serves individuals and families in Glendale. It offers legal representation in cases involving bankruptcy fees, alternatives, and benefits. The practice also assists with matters like creditor harassment, debt settlement, student loan discharge, property exemption, and credit card debts. In addition, it handles repossessions, foreclosures, wage garnishments, and tax issues. The law office has more than 20 years of experience. Its attorney, Leonard Sominsky, is a member of the Arizona Bar Association's Bankruptcy Section.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.9 / 5 (63)
Yelp
4.0 / 5 (4)
Avvo
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Mark W. Lischwe, P.C. logo
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Mark W. Lischwe, P.C.

9017 N 57th Dr, Glendale, AZ Glendale
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Mark W. Lischwe, P.C. is a bankruptcy law firm that serves the Glendale area. The firm represents individuals struggling with debt and seeking to file for bankruptcy under chapter 7 or 13 of the Bankruptcy Code. Its founding lawyer, Mark W. Lischwe, has been practicing law since 1981. Lischwe educates clients on the options available and applicable to their current situation. Mark W. Lischwe, P.C. strives to assist them in getting a fresh start and regaining their financial bearings.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
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Detail
Meyer Law, P.C logo
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Meyer Law, P.C

1425 W Elliot Rd #105, Gilbert, AZ 85233
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Meyer Law, P.C., handles bankruptcy cases for Glendale clients. It helps individuals straighten their finances by offering bankruptcy, tax relief, and debt settlement services. Its team of lawyers is experienced in navigating the intricacies of bankruptcy law in Arizona. They help clients settle their debts with credit card firms within at least six months, file for chapter 13 and chapter 7 bankruptcy, and negotiate with the IRS. The firm has filed more than 5,000 bankruptcies, all of which have been successful.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
5.0 / 5 (20)
Facebook
4.2 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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My AZ Lawyers logo
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My AZ Lawyers

20325 N. 51st Ave. Ste #134, Glendale, AZ 85392
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

My AZ Lawyers provides legal services to clients in the Glendale area. Individuals and businesses can hire the firm to help with filing for chapter 7 or chapter 13 bankruptcy. Its attorneys assist clients in preparing documents and representing them in court so that they can reorganize their finances. They also help obtain protection from creditor harassment that comes in the form of excessive phone calls, legal notices, and wage garnishments. The bankruptcy law firm has worked with retail stores, service companies, and restaurants.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.6
Facebook
4.6 / 5 (107)
Google
4.6 / 5 (61)
Yelp
4.0 / 5 (4)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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––
Phoenix Fresh Start Bankruptcy Attorneys logo
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Phoenix Fresh Start Bankruptcy Attorneys

4742 N 24th St. Suite 300, Phoenix, AZ 85016
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  • Chapter 7 Bankruptcy

Business Description

Phoenix Fresh Start Bankruptcy Attorneys serves clients in and around the Glendale metro. The legal team handles chapter 7 and chapter 13 bankruptcies. Its representatives help clients save their assets and stop foreclosure so they can rebuild their finances. The law firm’s founding partner, Tom McAvity, has represented thousands of individuals in bankruptcy cases. With over 20 years of professional experience, McAvity has also managed several law offices for a large firm in Portland, Seattle, Salem, and Seattle.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Avvo
4.8 / 5 (18)
Google
4.6 / 5 (13)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
4.0
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––
Sanchez Law Office logo
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Sanchez Law Office

6424 East Greenway Parkway, Scottsdale, AZ 85254
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  • Chapter 7 Bankruptcy
  • Debt Settlement

Business Description

The Sanchez Law Office is a bankruptcy law firm in Glendale that has been assisting individuals and families with insolvency matters since 2010. The company's principal lawyer, Alexander D. Sanchez, focuses on personal and consumer bankruptcy, particularly on chapter 7 and chapter 13 petitions. He also helps debtors to seek legal protection against wage garnishments, home foreclosures, vehicle repossessions, and creditor harassment. Currently, Sanchez is a member of the Arizona Consumer Bankruptcy Counsel. He is also licensed to practice law in the state and federal courts across Arizona.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (43)
Yelp
5.0 / 5 (19)
Avvo
5.0 / 5 (12)
Scott W Hyder Attorney at Law logo
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Scott W Hyder Attorney at Law

3420 East Shea Blvd., Ste. 200, Phoenix, AZ 85028
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  • Chapter 7 Bankruptcy

Business Description

Scott W Hyder Attorney at Law is a multi-practice firm representing clients in Glendale. Its assists debtors and creditors in resolving bankruptcy matters due to divorce, job loss, illness, and debt mismanagement. Founding attorney Scott W. Hyder guides clients in the filing of chapter 7, 11, and 13 bankruptcy petitions. He has more than 22 years of experience in the areas of estate planning, business, and personal injury law. Hyder helps clients make informed legal decisions through his knowledge about the interplay of several laws.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Avvo
4.9 / 5 (59)
Google
4.7 / 5 (38)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Stone Law Group PLC logo
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Stone Law Group PLC

3030 North 3rd Street, Phoenix, AZ 85012
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  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Business Description

Stone Law Group PLC offers consumer protection and bankruptcy services in Glendale. This firm helps clients make informed decisions, providing legal options and taking the best possible actions to resolve debt issues. Shawn L. Stone, its bankruptcy attorney, defends clients' rights in abusive collection measures and student loan matters. He also assists in debt restructurings, analyzing debt situations to determine whether debt payment plans are applicable. Moreover, he files bankruptcy petitions for qualified debtors under chapters 7 and 13 principles.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Avvo
5.0 / 5 (71)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
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Back to Providers

Frequently Asked Questions

What does a bankruptcy attorney do?

Bankruptcy attorneys help clients understand whether they qualify for bankruptcy and what their best options are. They also prepare and file petitions, answer questions during the proceedings, and educate clients about potential best steps for a positive bankruptcy outcome. Bankruptcy attorneys might also file motions or paperwork if creditors dispute the bankruptcy, or to stop creditors from taking collections actions forbidden by the bankruptcy.

What happens when you file bankruptcy?

Bankruptcy is a formal process that individuals, married couples, or businesses can enact when they are no longer able to pay creditors. In a bankruptcy proceeding, filers are allowed to reduce debt to more manageable levels to best pay off money owed.

Once the bankruptcy process is initiated, debt collectors can no longer seek repayments outside of the arrangements detailed in the bankruptcy settlement. Some forms of bankruptcy result in the liquidation of assets to pay back debts, while others allow filers to retain most of their possessions and investments. Many types of unsecured debt can be managed with bankruptcy filings, but not all.

Can you file bankruptcy on student loans?

Under most circumstances, student loans aren't dischargeable and aren't included in bankruptcy proceedings. In rare cases, it may be possible to eliminate student loans through bankruptcy, but only if the courts determine that continuing to pay the loans would impose an undue hardship. Meeting the criteria for undue hardship is challenging, and most bankruptcy filers don't qualify.

What is bankruptcy fraud?

Bankruptcy fraud is a blanket term that refers to any kind of dishonest bankruptcy proceeding, which can include:

  • Hiding assets by transferring them to another person or entity
  • Intentionally omitting assets when reporting to the court
  • Destroying or withholding required documents
  • Knowingly making false statements to bankruptcy trustees or creditors

How long is bankruptcy on public record?

How long bankruptcy stays on public record depends on the kind of bankruptcy filing in question. Chapter 7 bankruptcy remains on the record for 10 years as there isn't necessarily a repayment component. Chapter 13 bankruptcy remains on the record for seven years as some obligations are repaid following filing based on the terms of a discharge settlement.

Does bankruptcy clear tax debt?

Bankruptcy can clear tax debt, depending on the circumstances. Taxes are dischargeable under Chapter 7 bankruptcy, not Chapter 13, and only if the tax debt is:

  • Federal income tax debt related to current properly filed tax returns
  • Honestly incurred with no fraud or evasion
  • At least three years old
  • Assessed at least 240 days before bankruptcy filings

Existing liens are not eliminated with bankruptcy.


Can they take my car in Chapter 7 bankruptcy?

In many cases, it's possible to keep a vehicle following Chapter 7 bankruptcy. The Chapter 7 Motor Vehicle Exemption allows filers who own their vehicles outright or who are up to date with payments to keep their cars. However, those behind on making car payments are required to arrange a repayment plan. Otherwise, the vehicle may be repossessed as a part of the proceedings.

How bad is it to file bankruptcy twice?

Although possible, due to the damaging nature of bankruptcy, filing bankruptcy more than once isn't recommended. Filing multiple times puts a serious burden on one's credit report, making it harder to get a loan, buy a house, buy a car, or even open credit cards.

Note that filing for bankruptcy isn't something that can be done at a filer's leisure. There are time limits following bankruptcy cases that dictate when it's permissible to file again. For example, after Chapter 7 bankruptcy, filers must wait at least eight years before filing Chapter 7 again or four years before filing Chapter 13.

Can anyone file bankruptcy?

Anyone can file bankruptcy, but there are limitations regarding which form of bankruptcy is permissible. Qualifying for Chapter 7 requires a means test that evaluates income, debt levels, and income left over each month after paying basic obligations. Income over the median set by the court and monthly income that allows meaningful payments toward unsecured debt can disqualify filers from Chapter 7, which is generally the preferred form of bankruptcy due to the possibility of a full discharge. Anyone can file Chapter 13 bankruptcy, but the terms are less favorable. In most cases, some debts must be repaid following a successful filing. Chapter 13 is also more likely to result in asset forfeiture.

How will bankruptcy affect my credit score?

Bankruptcies are noted on credit reports. How much a bankruptcy might drop a person's credit score depends on how high the score was to begin with, but generally speaking, the hit can be as much as 100 to 200 points. Often scores are already dropping because people filing for bankruptcy may have already missed payments on debts. Chapter 13 bankruptcies are listed on credit reports for seven years from the filing date, while Chapter 7 bankruptcies are listed for 10 years from the filing date. This is because Chapter 13 bankruptcies require at least partial payment of debts owed.

What are the benefits of filing for bankruptcy?

Filing a bankruptcy petition causes an automatic stay. This legally stops creditors from taking further action to collect debt, including garnishing wages or foreclosing on property. Going through a bankruptcy successfully means that debts included in the bankruptcy are discharged and don't have to be paid back, except as provided in a Chapter 13 repayment plan. Bankruptcy can help someone recover from financial duress so they can make better decisions and improve financial situations in the future. Disadvantages can include temporary lower credit scores and limitations on spending and financing.

What's the difference between debt settlement and bankruptcy?

Debt settlement occurs when people negotiate with individual creditors. The creditor agrees to take a payment that's lower than what someone owes and call the debt “paid in full.” Bankruptcy is a legal process that causes debts to be dismissed after someone proves they don't currently have the means to pay their debts as owed. Typically, someone can't enter into bankruptcy and also settle some debts, because the court would see that as favoring one creditor over another.

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