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In 2004, the number of insolvencies reached record highs in many European countries. In France, company insolvencies rose by more than 4%, in Austria by more than 10%, and in Greece by more than 20%. The increase in the number of insolvencies, however, does not indicate the total financial impact of insolvencies in each country because there is no indication of the size of each case. An increase in the number of bankruptcy cases does not necessarily entail an increase in bad debt write-off rates for the economy as a whole.

Our staff here at Affordable Documents will provide and prepare all of the forms and documents that you need in order to file a chapter 7 bankruptcy for only $274.00. There is also a limited service attorney's fee of $25.00 in order to correctly file the documentation. Our services work closely with an attorney to make sure that you have the required forms and access to bankruptcy advice.
Bankruptcy offers an individual or business a chance to start fresh by forgiving debts that simply cannot be paid while offering creditors a chance to obtain some measure of repayment based on the individual's or business's assets available for liquidation. In theory, the ability to file for bankruptcy can benefit an overall economy by giving persons and businesses a second chance to gain access to consumer credit and by providing creditors with a measure of debt repayment. Upon the successful completion of bankruptcy proceedings, the debtor is relieved of the debt obligations incurred prior to filing for bankruptcy.
In Chapter 7, a debtor surrenders non-exempt property to a bankruptcy trustee, who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. In exchange, the debtor is entitled to a discharge of some debt. However, the debtor is not granted a discharge if guilty of certain types of inappropriate behavior (e.g., concealing records relating to financial condition) and certain debts (e.g., spousal and child support and most student loans). Some taxes are not discharged even though the debtor is generally discharged from debt. Many individuals in financial distress own only exempt property (e.g., clothes, household goods, an older car, or the tools of their trade or profession) and do not have to surrender any property to the trustee.[43] The amount of property that a debtor may exempt varies from state to state (as noted above, Virginia and Maryland have a $1,000 difference.) Chapter 7 relief is available only once in any eight-year period. Generally, the rights of secured creditors to their collateral continues, even though their debt is discharged. For example, absent some arrangement by a debtor to surrender a car or "reaffirm" a debt, the creditor with a security interest in the debtor's car may repossess the car even if the debt to the creditor is discharged.
For companies, formal bankruptcy is a normal effect of insolvency, even if there is a reconstruction mechanism where the company can be given time to solve its situation, e.g. by finding an investor. The formal bankruptcy involves contracting a bankruptcy manager, who makes certain that assets are sold and money divided by the priority the law claims, and no other way. Banks have such a priority. After a finished bankruptcy for a company, it is terminated. The activities might continue in a new company which has bought important assets from the bankrupted company.
Considered Arizona’s #1 bankruptcy law firm, our dedicated bankruptcy attorneys have filed thousands of bankruptcies for people in Maricopa, Pima, and Pinal Counties in Arizona.  Our service area is statewide and includes the cities of Phoenix, Tucson, Chandler, Gilbert, Scottsdale, Glendale, Peoria, Mesa, Casa Grande, Tempe, and Avondale.  Our statewide bankruptcy lawyers offer unbeatable prices and great customer service.
In Chapter 11 bankruptcy, the debtor retains ownership and control of assets and is re-termed a debtor in possession (DIP).[50] The debtor in possession runs the day-to-day operations of the business while creditors and the debtor work with the Bankruptcy Court in order to negotiate and complete a plan. Upon meeting certain requirements (e.g., fairness among creditors, priority of certain creditors) creditors are permitted to vote on the proposed plan.[51] If a plan is confirmed, the debtor continues to operate and pay debts under the terms of the confirmed plan. If a specified majority of creditors do not vote to confirm a plan, additional requirements may be imposed by the court in order to confirm the plan. Debtors filing for Chapter 11 protection a second time are known informally as "Chapter 22" filers.[52]
3. We Guarantee Your Discharge.  Not only do we offer one of the lowest fees, but we are the only law firm in Los Angeles to offer a guarantee of your discharge.  If the court does not grant your discharge, we will refund the attorney’s fees you paid to us.  The only requirements for you are that you provide all required documents, disclose everything, tell the truth, attend the Meeting of Creditors, and finish all the required courses.
In Chapter 7, a debtor surrenders non-exempt property to a bankruptcy trustee, who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. In exchange, the debtor is entitled to a discharge of some debt. However, the debtor is not granted a discharge if guilty of certain types of inappropriate behavior (e.g., concealing records relating to financial condition) and certain debts (e.g., spousal and child support and most student loans). Some taxes are not discharged even though the debtor is generally discharged from debt. Many individuals in financial distress own only exempt property (e.g., clothes, household goods, an older car, or the tools of their trade or profession) and do not have to surrender any property to the trustee.[43] The amount of property that a debtor may exempt varies from state to state (as noted above, Virginia and Maryland have a $1,000 difference.) Chapter 7 relief is available only once in any eight-year period. Generally, the rights of secured creditors to their collateral continues, even though their debt is discharged. For example, absent some arrangement by a debtor to surrender a car or "reaffirm" a debt, the creditor with a security interest in the debtor's car may repossess the car even if the debt to the creditor is discharged.
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If you feel stressed and overwhelmed at the prospect of filing for Chapter 7 or Chapter 13 bankruptcy, let our Avondale, Arizona office help you through the process of declaring bankruptcy in Avondale, Arizona. Get the help of our Avondale law office today.  Our Avondale bankruptcy lawyers have several options to offer clients who are in need of debt relief and considering declaring bankruptcy in Arizona. If you are in need of a low cost bankruptcy lawyer contact the My Arizona Lawyers today. 
Bankruptcy fraud is a white-collar crime. While difficult to generalize across jurisdictions, common criminal acts under bankruptcy statutes typically involve concealment of assets, concealment or destruction of documents, conflicts of interest, fraudulent claims, false statements or declarations, and fee fixing or redistribution arrangements. Falsifications on bankruptcy forms often constitute perjury. Multiple filings are not in and of themselves criminal, but they may violate provisions of bankruptcy law. In the U.S., bankruptcy fraud statutes are particularly focused on the mental state of particular actions.[12][13] Bankruptcy fraud is a federal crime in the United States.[14]

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Our Glendale, Arizona debt relief experts offer free consultations.  Call us today and find out what types of debt relief are available to you and your family.  Let our low priced bankruptcy lawyers in Glendale explain the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy.  Our Glendale and Avondale bankruptcy offices offer some of the lowest legal fees on all of our bankruptcy filings.  Compare our rates, we know our bankruptcy fees are the lowest!  Find Arizona’s best bankruptcy lawyers.
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