Chapter 13 Bankruptcy Information

Matthew Foley

Matthew Foley

Esq. & MBA

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Mr. Foley handled my chapter 7. After my first meeting with him I instantly felt better about the whole thing. I was stressed about my finances and felt guilty for even considering a bankruptcy. I felt like a total failure. Mr. Foley was able to help me see that it was the right business decision and was also able to help me by pointing me to resources for a redemption loan on my vehicle. If you are considering a bankruptcy attorney, I would recommend you consult with Mr. Foley.

Client #1
July 18, 2017


Your Excellent Choice

Matt and his team rock !!!!!!!!
They took the stress and worries out of the whole process and made it smooth and stress free. He and his staff are caring, knowledgeable, very organized, honest and affordable. They responded quickly to any questions or concerns I had.

I would highly recommend Matt and his team to anyone who needs a bankruptcy…… Thank you so much

July 13, 2017


Very helpful even though not client (yet)

Matthew represented us at a Trustee meeting when our Phoenix attorney could not be present. He was knowledgeable and helpful. In addition, when my existing attorney became “disengaged”, we contacted Matt and he spent a lot of time helping us understand some issues we were having. He was supportive, helpful, and gave excellent advice even though we were not his clients. I highly recommend him and he will be my first call for any future legal issues.

May 23, 2017


Caught in a Bind

I was in a real bind and not knowing the law, I contacted the best reviewed bankruptcy lawyer in town. After the consultation I left feeling better about my situation with a much better understanding of the law. The man knows his stuff and is very knowledgeable. I hired him and he did an amazing job. I literally did nothing but answer questions in an honest manor. The staff is a collection of incredible people, who are kind and very nice and understanding towards your situation. Thank you so so much for everything and would recommend the heck out of this gentlemen. Awesome experience.

March 6, 2017


Truly Awesome

Matt and his team rock!!! They took the stress and worries out of the whole process and made it smooth and stress free. He and his staff are caring, knowledgeable, very organized, honest and affordable. They responded quickly to any questions or concerns I had. I would highly recommend Matt and his team to anyone who needs a bankruptcy or debt settlement attorney.

October 21, 2016

Benefits of a Chapter 13 Bankruptcy

Chapter 13 offers individuals a number of advantages over liquidation under Chapter 7. Perhaps most significantly, Chapter 13 offers individuals an opportunity to save their homes from foreclosure. By filing under this chapter, individuals can stop foreclosure proceedings and may cure delinquent mortgage payments over time. Nevertheless, they must still make all mortgage payments that come due during the chapter 13 plan on time. Another advantage of chapter 13 is that it allows individuals to reschedule secured debts (other than a mortgage for their primary residence) and extend them over the life of the chapter 13 plan. Doing this may lower the payments. Chapter 13 also has a special provision that protects third parties who are liable with the debtor on “consumer debts.” This provision may protect co-signers. Finally, chapter 13 acts like a consolidation loan under which the individual makes the plan payments to a chapter 13 trustee who then distributes payments to creditors. Individuals will have no direct contact with creditors while under Chapter 13 protection.

Protect Your Home

Chapter 13 bankruptcy can protect a home from foreclosure and remove (strip) a second mortgage. The home is protected from foreclosure by including reimbursement terms within the bankruptcy, thereby allowing the loan to become current. In addition, the second mortgage can be removed from the home through a lien avoidance procedure in bankruptcy. To strip junior liens, such as a second mortgage, the home has to be worth less than the amount of the outstanding first mortgage. In such circumstances, the junior lien can be legally determined as unsecure and can be eliminated. The value of the home is determined by conducting a residential appraisal.


Protect Your Car

Chapter 13 bankruptcy also provides Tucson debtors with the ability to favorably renegotiate the terms of vehicle financing by lowering the payoff, interest rate, and payment. If a vehicle has been owned for a period that exceeds 910 days, the vehicle (as well as other personal property) can be “crammed down,” which means that the property is paid off at its value versus the outstanding loan balance. Chapter 13 also reduces interest rates on personal property debt to prime plus a one-point margin. Finally, because a Chapter 13 plan is 3 – 5 years in duration, the vehicle payments can be averaged over this new period – a part of the process called re-amortization – which can drastically reduce a debtor’s payment within the plan.


Consolidate Your General Unsecured Debt

Finally, and most importantly, Chapter 13 can provide organized and effective debt consolidation accomplished through the bankruptcy court. All creditors much cooperate. The payoff on outstanding debt is primarily gauged on a debtor’s ability to repay, therefore enabling most debt to be paid off at a fraction of what is actually owed.


Helping Tucson & Southern Arizona Families & Businesses to Get Debt Relief

For some Tucson families, Chapter 13 bankruptcy provides an excellent debt relief option. Chapter 13 bankruptcy is routinely mischaracterized as an unattractive “repayment plan.” In actuality, a Chapter 13 bankruptcy plan provides incredible debtor assistance for particular debtors. Contact our office today to schedule a consultation and explore your options.