Clint W. Smith, P. C.

Clint Smith has developed positive working relationships since 1986 with the courts, attorneys and trustees in the Phoenix Bankruptcy Court. This experience and these relationships benefit our clients who file bankruptcy petitions, and creditor clients alike.

Clint W. Smith

Arizona Bankruptcy Laws

If you are in debt and unable to continue making payments to your creditors, you may want to consider filing for bankruptcy.  Bankruptcy is a legal proceeding that allows you to discharge most of your debts and make a fresh financial start.  Under federal and bankruptcy law in Arizona, filing for bankruptcy may help prevent you from losing your home and car, and it also stops your creditors from harassing you.

The Arizona bankruptcy law firm of Clint W. Smith, P.C. represents clients in Chapter 7 and Chapter 13 bankruptcy cases, including clients in Chandler, Tempe, Mesa, Scottsdale, and Gilbert.  Firm principal Clint W. Smith helps his clients understand federal and Arizona bankruptcy laws so they can make informed decisions about how to improve their financial situation.

Types of bankruptcy cases

The two most common types of bankruptcy cases that individuals file for in Arizona are Chapter 7 and Chapter 13.  Below is a brief explanation of each:

  • Chapter 7:  In a Chapter 7 bankruptcy case, your assets will be liquidated in order to pay back creditors to the extent possible.  Certain creditors, such as secured creditors, are given a priority and debt amounts in excess of what can be paid with your liquidated assets will be discharged, with some exceptions.  The types of debts that are normally discharged include credit card debts, medical bills, and debts owed to unsecured creditors.
  •  Chapter 13:  In a Chapter 13 bankruptcy case, you and the court work out a three- to five-year payment plan that allows you to pay back your creditors as much as you can within your means.  To file for Chapter 13 bankruptcy, you must have regular income that enables you to fulfill your obligations under the plan.  Once the plan is in place, you make payments to a court-appointed bankruptcy trustee who distributes payments to your creditors.

Non-dischargeable debts

Even if you file for bankruptcy, there are some types of debts that federal and Arizona laws will not discharge.  These may include the following:

  • Child support payments
  • Alimony (spousal maintenance) payments
  • Student loan payments
  • Criminal restitution payments

You can keep some of your property

Even if you file for bankruptcy, Arizona laws allow you to keep some of your property.  These bankruptcy exemptions currently include:

  • $150,000 of equity in your home
  • $5,000 of equity in your car
  • $4,000 worth of household goods/personal property
  • $2,500 worth of tools and equipment which you need to perform work
  • Certain government benefits, such as workers’ compensation and unemployment benefits

Contact an Arizona bankruptcy lawyer

At Clint W. Smith, P.C., we can help you understand Arizona bankruptcy laws and how they apply to your specific case.  Contact us today at (480) 807-9300.  Our bankruptcy law firm serves the surrounding areas of Scottsdale, Mesa, Tempe, Gilbert, and Chandler, Arizona.