Should I File For Bankruptcy?

Let’s Answer that Question in Another Way…

what are the consequences of not filing Bankruptcy?

If you are a candidate for bankruptcy, but choose not to file. You can expect some repercussions.

Your Car

If you own a car and stop paying on it, the creditor will take it, sell it and stick you with the cost incurred in selling it as well as the difference of what you owe and how much they sell it for. Often times selling it to a private party is the best option.

Your Home

Your mortgage company can’t just boot you out of your home without warning. They have to follow a process called foreclosure. The foreclosure process can last a few months and during that time you can live in your home.

Student Loans

Student loans don’t just “disappear”. Government agencies can garnish up to 10% of your disposable income. They’ll take it from your paycheck before you even see it.

Child support

Debtors that owe support can possibly go to jail or may not be allowed to hold a professional business license.

Fines & Restitution

If you have been ordered to pay a fine or make restitution in regards to a criminal proceeding and don’t, you may have a jail cell waiting for you.


The IRS has a lot of power. They can seize your bank account, pension or real estate.


Many creditors will sue you in order to get a judgment against you. If you are served and don’t respond, you will get a default judgment against you without presenting your case.

Call 480-755-8000 to speak with our Arizona bankruptcy attorney today for immediate help.