A Professional Law Corporation Recipient of Phoenix Chapter 13 Trustees Award for Excellence Celebrating 20 years at our Phoenix Location Practicing Exclusively in Chapter 7 and Chapter 13 Bankruptcy

Contact Us

Locations:

  • Central Phoenix
    2001 E. Campbell Avenue
    Suite 103
    Phoenix, AZ 85016
    Phone: 602-252-7552
    Map and Directions
  • Mesa:
    1930 S. Alma School Rd.
    Suite A-115
    Mesa, AZ 85210
    Phone: 480-491-1000
    Map and Directions
  • Glendale:
    5540 W. Glendale Ave.
    Suite B-103
    Glendale, AZ 85301
    Phone: 602-252-7466
    Map and Directions

National Association of Consumer Bankruptcy Attorneys

Arizona's Finest Lawyers | Identifying Lawyer Excellence | Informing Client Choice

Bankruptcy Overview

Resolving Financial Issues for Arizona Clients

At Mark W. Lischwe, P.C., we are here to help you find the appropriate debt relief, suited to your specific situation.  If credit counseling or debt settlement are no longer an option, Chapter 7 or Chapter 13 bankruptcy may be the solution.

Frequently Asked Bankruptcy Questions

Bankruptcy was designed to help people obtain a fresh start.  A few of the most popular questions about bankruptcy include:

  • Am I a candidate for bankruptcy?
  • Will I be able to keep my house? My vehicles?
  • Are there any debts that I willl still owe?
  • Will garnishments, foreclosures and other collections stop once I file?
  • Are there alternatives to bankruptcy?

Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a straight liquidation of your debts and assets.  In most cases, your income is less than your expenses on a monthly basis.  Chapter 7 discharges your dischargeable debt and any non-exempt assets can be sold by the Trustee, for distribtuion to your creditors on a pro rata basis.  We will discuss what assets you own at our consultation to determine if any of your property is non-exempt and what options are available to you.  When your bankruptcy is filed, the Court assigns a Trustee who oversees your bankruptcy estate.  Approximately 45 days after your case is filed, you will be required to attend a hearing in front of your Trustee.  In most cases, you will receive a discharge within 3-4 months.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy is a reorganization of your debts; your income is greater than your expenses and you are reorganizing your debt over a 3-5 year period by paying your disposable income through a Chapter 13 Plan, which may include mortgage arrears, support arrears, taxes, vehicle payments and other secured debt.  This payment may also include some monies being paid toward your credit cards and other unsecured debts but, in most cases, your unsecured creditors (credit cards, unsecured loans and the like) do not receive 100% of their balances.  When your bankruptcy is filed, the Court assigns a Trustee who oversees your bankruptcy estate.  Your payments will be made directly to the Trustee for the duration of your Plan and the Trustee will manage the Plan by paying off your creditors during that period of time.  In most cases, your mortgage payment will continue to be made directly to the lender.  Approximately 45 days after your case is filed, you will be requied to attend a hearing in front of your Trustee.  Within approximately 30-45 days from your hearing, the Trustee will make a recommendation as to whehter the Plan is feasible and, if not, what steps must be taken for the Trustee to approve the Plan.  Once your Plan and corresponding requirements have been completed, you will receive a discharge.

Home Foreclosure

If you are facing foreclosure, filing for Chapter 13 bankruptcy prior to the sale can provide you with an opportunity to repay the arrears owed at the time of filing. There are also additional options available to you if you have a second mortgage, depending upon your circumstances.

If you wish to learn more about these chapters for your specific situation, please feel free to contact me online or by calling 602-252-7552.


Mark W. Lischwe represents clients throughout Maricopa County, including Phoenix, Mesa, Glendale, Tempe, Chandler, Peoria, Avondale, Scottsdale, Gilbert, Apache Junction, Surprise, Buckeye, Queen Creek, Sun Lakes, Ahwatukee, Anthem, Carefree, Cave Creek, El Mirage, Fountain Hills, Goodyear, Litchfield Park, Tolleson, Wickenburg, Youngtown and Sun City, as well as Coconino County, Gila County, Pinal County and Yavapai County. This office is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for advice regarding your individual situation. We invite you to contact us to schedule an appointment for a consultation of your financial situation, but please be advised that contacting us does not create an attorney-client relationship. Please do not send any confidential information to us until such time as an attorney-client relationship has been established.