Bankruptcy

Trusted Bankruptcy Lawyer in Tempe, AZ

Are you drowning in a sea of debts, struggling to make ends meet? The decision to consider bankruptcy is undoubtedly a difficult one, but sometimes, it can be the lifeboat that rescues you from the storm of financial turmoil. At the Law Offices of Douglas B. Price, P.C., we understand that your finances are like a complex puzzle, and filing for bankruptcy could be the missing piece that brings everything together. Our dedicated team is here to guide you through the process, helping you make an informed decision about whether bankruptcy is the right solution for you.


Take the first step towards a debt-free future and schedule a free bankruptcy consultation with our seasoned attorney today.

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Is Bankruptcy the Right Choice for You?

Navigating the turbulent waters of financial distress can be overwhelming, leaving many individuals wondering if bankruptcy is the right choice for them. At the Law Offices of Douglas B. Price, P.C., we understand that making such a decision is never easy and requires careful consideration.


That’s why, before you set sail on this important journey, let’s explore some fundamental questions that will help you determine whether bankruptcy is the right choice for you:

What's My Goal?

Understanding your financial goals is crucial to determining the right bankruptcy strategy. While some debts can be discharged in bankruptcy, others may survive the process. Our dedicated bankruptcy lawyer can assess your specific debts and help you understand how they will be affected by a bankruptcy discharge. This insight will help you set realistic expectations and choose the best course of action.

Finding the Right Bankruptcy Option for Your Needs

When it comes to bankruptcy, there is no one-size-fits-all solution. Different financial situations call for different approaches. At the Law Offices of Douglas B. Price, P.C., we offer a comprehensive understanding of various bankruptcy options to help you choose the one that best suits your needs.


Here are some of the bankruptcy chapters we can explore together:

Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” is designed for individuals facing significant financial hardship and who have limited means to repay their debts. In a Chapter 7 bankruptcy, most of your unsecured debts, such as credit card debt and medical bills, can be completely discharged—giving you a fresh start.


To qualify for Chapter 7 bankruptcy, you will need to pass the “means test,” which evaluates your income and financial situation. If you meet the criteria, Chapter 7 can provide a swift and effective resolution to your debt problems.


The Benefits of Chapter 7 Bankruptcy


  • Quick process: Chapter 7 bankruptcy typically takes a few months to complete.
  • Debt discharge: Most of your unsecured debts will be wiped out, allowing you to start anew.
  • Automatic stay: The automatic stay halts creditor actions, providing immediate relief from collection efforts.


Chapter 11 bankruptcy is primarily designed for businesses but can also be utilized by individuals with substantial debts or complex financial affairs. It is known as “reorganization bankruptcy,” as it allows debtors to restructure their debts while continuing their operations or financial affairs.


This bankruptcy option is ideal for high-income individuals, business owners, or those with significant assets who don’t qualify for Chapter 7 or Chapter 13 and need a flexible plan to repay their debts over time.


The Benefits of Chapter 11 Bankruptcy


  • Business continuity: For business owners, Chapter 11 allows you to continue operating while restructuring your debts.
  • Repayment flexibility: Debtors can negotiate new repayment terms with creditors based on their financial capacity.
  • Debtor in control: The debtor retains control of their assets and financial affairs during the reorganization process.

Chapter 13 bankruptcy, also known as “wage earner’s bankruptcy,” is designed for individuals with a regular income who can create a feasible repayment plan to gradually pay off their debts over three to five years.


To qualify for Chapter 13 bankruptcy, you must have a stable income that can support a repayment plan and have unsecured debts below a certain limit.


The Benefits of Chapter 13 Bankruptcy


  • Asset protection: Chapter 13 allows you to keep your assets while catching up on missed payments through the repayment plan.
  • Affordable payments: The repayment plan is tailored to your income, making it more manageable.
  • Debt discharge: At the end of the repayment period, any remaining eligible debts are discharged.


Schedule Your Free Bankruptcy Consultation Today

You don’t have to navigate the complexities of bankruptcy alone. Our Tempe bankruptcy lawyer is here to help you understand the process, explore your options, and make an informed decision about your financial future. We offer free bankruptcy consultations to assess your situation and recommend the best course of action.


Contact the Law Offices of Douglas B. Price, P.C., today to schedule your consultation.

GET A CONSULTATION