The Chapters of Mesa Bankruptcy

Chapter 7 Bankruptcy

Filing for Bankruptcy can be a stressful and complex issue for any individual or family and having the information and options presented to you in order to help you through the process in the events that everything is within your best interest is a priority of Fife & Cesta Law. One of the most common types of Bankruptcy filed is Chapter 7 Bankruptcy. This type of Bankruptcy is is a governed process of liquidation that both individuals and businesses can file for. Normally a Chapter 7 Bankruptcy is a last resort to help recover your losses and pay off your debts to creditors.

Typically in Chapter 7 Bankruptcy the individual is allowed to keep certain specific exempt properties, however the value of the allowed exempt property can vary. The assets will be liquidated or sold in order to pay off the debt to collectors and creditors. For businesses in Mesa seeking to file for a Chapter 7 Bankruptcy can be forced to close or stop service by a federal court unless a Trustee is appointed, which can result in the loss of some or all employees. For information on businesses or individuals thinking of filing for Chapter 7 Bankruptcy, call the expert Bank Attorneys at Fife & Cesta Law!

Chapter 13 Bankruptcy

Another commonly filed type of Bankruptcy in Mesa is called the Chapter 13 Bankruptcy which is essentially a reorganization of debts meant to help property owners keep their homes, vehicles, and other assets of value while getting a handle on their debts and finances. If you still have an income, Chapter 13 Bankruptcy may be a good option for you as it may keep you from foreclosure, repossessions, or costly debt lawsuits. A Chapter 13 Bankruptcy may help you reduce or altogether eliminate credit card debt, as well as protect you from wage garnishment so that you can still pay the necessary bills.

Fife & Cesta Law in Mesa can guide you through the process of filing for a Chapter 13 Bankruptcy, as it can be a confusing process on your own. We help you with receiving and filing all of the proper legal documents necessary, as well as help you understand them. We can also help you should any case go to trial, but with our services we help you retain ownership of you home, vehicle, and other valuable properties for both individuals and business owners.

Contact Our Mesa Bankruptcy Lawyers

Contact Fife & Cesta Law at (480) 850-6541 to receive information on filing Chapter 7 and Chapter 13 Bankruptcy, as we are proud to present you with professional, educated and knowledgeable backgrounds that can provide the assistance you need when looking for a Bankruptcy Attorney in Mesa!