Discharge – A successful filing will result in you receiving a “discharge”. The discharge relieves your legal obligation to pay credit card debt, medical debt, pay day loans, lines of credit, old tax debts, most lawsuit judgments and some others. It is the discharge which really allows you to get a fresh start after bankruptcy. […]
About Stephen Trezza
My name is Stephen Trezza and I am a Tucson bankruptcy attorney. I have been based in Tucson, Arizona since 1992 and I specialize in chapter 7 and chapter 13 bankruptcy cases. I have been awarded a "Superb" rating by Avvo and an "A" rating by the BBB. I have been President of the Tucson Association of Consumer Bankruptcy Attorneys 2011, 2012 and 2013.
No. You will not. The purpose of making bankruptcy available as an option is not to punish you for whatever circumstances have lead to financial troubles or for getting in over your head. For the vast majority of our clients, they have gotten too deeply into debt through no fault of their own. Maybe they […]
When someone files for bankruptcy, they are immediately assigned a “trustee”. A trustee is similiar to a referee. They work between the debtor and creditors to ensure that both are treated equally. They are appointed to examine your case, finances and assets. The trustee look over your assets for any nonexempt property that can be sold, […]
The short answer is yes. However, you should not postpone or be nervous about filing bankruptcy because of the classes. They are short, not graded and can be taken online or over the phone. There are two mandatory bankruptcy classes. You must take one before filing your class known as the debtor education class. At our […]
The length of your chapter 13 plan is determined by comparing your gross annual income to your states median income. If your income is above the state median income than your chapter 13 must be five years in length. If it is below than your plan must be at least three years in length.
Unsecured creditors in a chapter 13 are entitled to receive 100% of your monthly disposable income. Unsecured creditors are owed debts such as credit card debt, medical debt and other debt that does not include any property pledged as collateral. Your monthly disposable income is determined by a formula provided by the bankruptcy law known […]
Chapter 13 is most commonly referred to as “reorganization” because you are given the opportunity to rearrange your debt. Rearranging debt offers many different options depending upon the type of debt at issue. Sometimes debt that is secured by collateral can be rearranged to decrease the total amount due for that particular debt. For example, […]
Arizona Chapter 7 Bankruptcy has many nicknames, such as “straight bankruptcy” or “liquidation”. Liquidation is a good description because one basic premise of chapter 7 bankruptcy is that your unsecured creditors are entitled to the value of all you non-exempt property. For example, in Arizona if you owned a Mickey Mantle rookie card in mint […]
More likely than not, if you file bankruptcy in Arizona it will either be a chapter 7 or a chapter 13 bankruptcy. The numbers 7 and 13 simply refer to the laws set forth in those two chapters of title 11 of the United States code. The advice of an expert Tucson Bankruptcy Attorney will […]
Bankruptcy is designed to allow an honest debtor to obtain a fresh start. An “honest debtor” refers to someone who has incurred debts with the intention to repay them but due to intervening circumstances cannot. There are checks and balances in the bankruptcy process to seek out the debtor who incurs a debt that he […]