Personal Bankruptcy

The purpose of bankruptcy is to give hope to those struggling with debt. By allowing you to discharge certain debts and create plans that fit your needs, bankruptcy can turn your financial position around and clear the way for a brighter financial future.

When you come to the Neeley Law Firm, an Arizona bankruptcy lawyer will sit down with you to discuss your entire financial situation and what you wish to accomplish. We will then explain all of your available options, including which Chapter of Bankruptcy is best for you. From start to finish, and long after your case is resolved, we will always be available for you.



Also known as “straight bankruptcy,” Chapter 7 bankruptcy involves the liquidation – or sale – of assets. The money from selling these assets is used to pay creditors at least some of what they are owed. You will be able to claim bankruptcy exemptions that will allow you to keep certain personal property. Most Chapter 7 filings are no-asset cases, which means most of our clients keep everything they own.

Chapter 7 bankruptcy is intended to help those who are truly in need, and you must meet certain requirements in order to file. The goal of Chapter 7 bankruptcy is to receive a debt discharge, which releases you from the obligation of having to pay the full amount of your debt.



Chapter 13 bankruptcy is known as the “wage earner’s plan” because it is designed for individuals who have the income needed to make monthly payments. In Chapter 13, debts are reorganized into manageable payment plans, which allow you to keep your personal property.

Depending on your financial situation, you will make monthly payments for either three or five years. These payments are made to a trustee, who then distributes payments to your creditors. At the end of the plan, the court may grant you a discharge of the remaining balance of your unsecured debts. This means that you will be relieved from having to pay the full amount of your debt.



Personal bankruptcy is just that – personal. Because financial problems mean something different to everyone, they require personalized solutions to solve. We will help you identify the best strategy and Chapter of bankruptcy according to your needs and goals, and will walk you through the entire process step by step. Even after your case is over, we will be here to help you should you have any questions or concerns. We will also give you the tools to rebuild quickly afterwards – tools like our 7 Steps to 720 program.


To learn more about personal bankruptcy, your options, and how the Neeley Law Firm can help, book an appointment online or call 480-802-4647 for a FREE consultation.