Individuals and businesses in the United States must follow bankruptcy procedures in order to avoid facing legal complaints
. And these procedures have variations in every state despite its practical similarity. This can mean that proper information is important which means that reading things like the Arizona Bankruptcy Newsletters can make a huge difference. The February 2012 edition of this newsletter may prove useful tackling different issues.
As an example, here are two conditions regarding how different Arizona bankruptcy process can get:
The petition following process of the federal bankruptcy law can only be submitted in the local Arizona bankruptcy court.
Income data can be used to qualify for a bankruptcy. However, living in Arizona means you can only use data specific for Arizona.
Here is a list of Arizona bankruptcy processes one must remember as it specific for the state:
The requirement of timeline and process to follow federal procedures is a must in filing for Arizona bankruptcy.
A petition can only be submitted once a credit counseling course is attended.
Submission to the proper Arizona court must happen after completing the petition with the appropriate filing fee.
After a month, appearance before your bankruptcy trustee is required to review your petition. This will be referred to as the Section 341 Meeting. Invitation among the creditors will also happen in this meeting.
A discharge of 60 days will then be granted if there are no objections present during the Section 341 meeting.
There is an important reminder among those who filed for a Chapter 13 Case: submission of payment plan must happen and this is to be approved by the court.
Once the decision to file for an Arizona bankruptcy happens, these process must be readily faced. Moreover, it is important to take not that Arizona only has one bankruptcy district for the entire state. However, separate bankruptcy courthouses can be found in Phoenix, Prescott, and Yuma. On another note, checking the Arizona Bankruptcy District website will tell you where to file your case.