Clearing Confusion about the Bankruptcy Code

By entering into a contractual agreement with a lender, retail establishment, service provider, or other entity with which you become financially bound, you are accepting a set of terms stipulated at the outset. Unfortunately, the language that is used in the fine print of these contracts is often dense and confusing legalese that is intended to put you at a disadvantage in the event of any lapse in repayment. The language of the United States Bankruptcy Code is equally confounding, and this can prevent you from appreciating the potential benefits of bankruptcy in your current situation.

The Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C., can explain to you in clear and unbiased language what bankruptcy does and does not entail. For straight talk from a skilled and experienced team of legal professionals, contact us today at 480-829-0494.

Important Bankruptcy Basics

The truth of the matter is that bankruptcy law is full of subtleties that could influence your decision to seek one form of bankruptcy protection over another. There are several key distinctions that are important to grasp at the outset, including:

• Some forms of bankruptcy are reserved for businesses and not individuals
• Not all forms of debt are dischargeable
• Chapter 7 bankruptcy involves the sale of assets to partially satisfy debts
• Chapters 11, 12, and 13 allow for the restructuring of debt payment agreements

Contact Us

To ensure that your efforts to regain financial control of your life are not hampered by procedural errors or the selection of a less advantageous form of bankruptcy, contact the Arizona bankruptcy lawyers of the Harmon Law Office, L.L.C., at 480-829-0494.