Arizona bankruptcy law education and training will teach you how to resolve your clients' debts by dividing their assets among their creditors. This allows each creditor to achieve some measure of equality under the law. A filing under Chapter 7 is called liquidation and involves the sale of the debtor's non-exempt property. A bankruptcy proceeding under Chapters 11, 12 or 13 allows the debtor to use future earnings to pay off creditors.

The qualifications needed to become an Arizona bankruptcy attorney are determined at the state level and also will be affected by the specific type of bankruptcy that the client requires. There are three general phases in obtaining an education in bankruptcy law:

1. Formal education. An attorney who practices before an Arizona bankruptcy court will need at least a Juris Doctor (J.D.) degree from an accredited law school in Arizona. An advanced degree such as a Masters of Law (L.L.M) will further distinguish you from your colleagues.
2. Membership in professional organizations. Practicing attorneys will want a membership in one of the associations dedicated to bankruptcy law in Arizona.
3. Legal specialization. Bankruptcy attorneys in Arizona can become designated specialists in bankruptcy law by meeting the state's specific requirements.
   

Action Steps
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Attend a law school that specializes in state of Arizona bankruptcy laws

There are a variety of universities in Arizona that provide a concentration in bankruptcy law. These schools are equipped to offer a solid education on the current bankruptcy laws in Arizona.

I recommend: The Arizona State University Sandra Day O'Connor College of Law teaches several advanced courses in bankruptcy, including Chapter 11 Bankruptcy and Debtor-Creditor & Bankruptcy. The University of Arizona James E. Rogers College of Law offers a selection of bankruptcy law courses, including Federal Bankruptcy Pro Se-Debtor Project.

Find professional forums for an Arizona bankruptcy lawyer

Professional online forums can provide a daily educational opportunity for bankruptcy attorneys in Arizona. These include information on recent changes in bankruptcy law and advice on building a practice.

I recommend: The Law Office of Michael S. Anderson maintains several blogs on Arizona bankruptcy law and provides other bankruptcy resources. Arizona Bankruptcy Law and Lawyers provides an educational guide to consumer bankruptcy in Arizona.

Obtain a specialization in Arizona business bankruptcy laws

Arizona allows attorneys who practice certain areas of the law, such as bankruptcy, to be certified as specialists. A bankruptcy attorney in Arizona will need to know Arizona's specific requirements for a specialization in bankruptcy.

I recommend: The State Bar of Arizona provides the complete details on becoming certified in bankruptcy law in Arizona. Take online courses at Legalspan to meet the bar's requirement of 15 hours of continuing legal education for bankruptcy lawyers. The American Bar Association summarizes the regulations regarding a specialization in bankruptcy law for Arizona lawyers.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Attorneys also will want to join professional organizations that are dedicated to the practice of Arizona bankruptcy laws. These associations provide a number of resources essential for the practicing bankruptcy attorney, including contact information for important courts, assistance with Continuing Legal Education (CLE) requirements and links to bankruptcy laws.

No one starts a business thinking it will fail and they will end up researching bankruptcy in Arizona. However, things don’t always work out how we plan, and there may come a time when filing for bankruptcy in Arizona becomes the best option for your and your business.

Research the bankruptcy laws in Arizona before you begin to make a decision about filing for bankruptcy. You want to have a complete understanding of the process and what you have to lose and gain from filing bankruptcy in Arizona. Before filing for bankruptcy, keep in mind and the following:

1. File for bankruptcy for an opportunity to start anew. Look at it as a new beginning instead of an ending.
2. Understand how Arizona bankruptcy law is going to affect your current business and any possible future business endeavors.
3. Examine the decisions you made that bought you the point of needing to file for bankruptcy. Analyze the situation so you know what went wrong and to prevent making the same mistakes again.
   

Action Steps
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Determine the exemptions you have under AZ bankruptcy law

Know the exemptions you have available under Arizona bankruptcy laws. Homestead, insurance and pensions are just some of the property concerns you want to investigate before you make a decision about filing bankruptcy in Arizona.

I recommend: Arizona Bankruptcy Law.com has a chart showing all of the exemptions that are available under Arizona bankruptcy law with explanations on how the exemptions work. Personal Bankruptcy Information also has a chart with all of the available exemptions in Arizona and links to other AZ bankruptcy law information.

Review the process of filing bankruptcy in Arizona

Filing for bankruptcy has changed drastically since the passage of the 2005 bankruptcy laws. You may not be eligible to file for Chapter 7 bankruptcy. If you have a valuable asset you want to keep that isn't covered under the exemptions, Chapter 13 may be a better option for you.

I recommend: FreeAdvice has detailed information on bankruptcy in AZ. BankruptcyInformation.com has information on Arizona's bankruptcy process from the type of bankruptcy you can file to how Arizona bankruptcy court works.

Hire a good Arizona bankruptcy attorney

You shouldn't file for bankruptcy without a good Arizona bankruptcy lawyer. There are plenty of high-quality Arizona bankruptcy lawyers to choose from; find one that is a good fit for you and your business.

I recommend: AttorneyPages has a database of Arizona bankruptcy attorneys and Arizona bankruptcy law firms that can be searched by county or city. Clark Law Offices is a Phoenix-based bankruptcy law firm that offers debt relief services as well as bankruptcy representation.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Review your assets and debt before filing for bankruptcy with your Arizona bankruptcy lawyer. Property that you can't claim as an exemption may be sold to pay off to your creditors. Claim all property that you are eligible to keep as exempt or the exemptions will not be given.