Daniel DeRienzo
Law Office of Daniel J DeRienzo, PLLC
Prescott Valley, Arizona • Serving Yavapai County
About Daniel DeRienzo
Daniel DeRienzo is a bankruptcy attorney at Law Office of Daniel J DeRienzo, PLLC based in Prescott Valley, Arizona. Bankruptcy practice in Arizona involves federal law (Title 11 of the U.S. Code) administered by the U.S. Bankruptcy Court for the District of Arizona, with state-law overlays including Arizona's homestead exemption under ARS § 33-1101 and the various property exemptions in ARS Title 33, Chapter 8. See contact details below.
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Education
- Law School: U of Arizona
Common questions about Bankruptcy in Arizona
Answered by Arizona Attorney Search Network
What's the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 (Title 11 USC, Chapter 7) is liquidation: a trustee may sell non-exempt assets and distribute proceeds to creditors, while most unsecured debts are discharged in 3-6 months. Chapter 13 is reorganization: the debtor proposes a 3-5 year plan to repay creditors a portion of debts based on disposable income, retaining property the plan addresses. Chapter 7 has stricter eligibility through the means test.
What is the means test for Chapter 7?
The means test under 11 USC § 707(b)(2) determines Chapter 7 eligibility. If the debtor's household income is at or below the Arizona median for their family size, they automatically qualify. If above the median, the means test calculates 'disposable income' by deducting allowed expenses; debtors with significant disposable income are presumed abusive and either denied Chapter 7 or pushed to Chapter 13.
Will I lose my house if I file for bankruptcy in Arizona?
Probably not. Arizona's homestead exemption under ARS § 33-1101 protects up to $400,000 of equity in a primary residence (increased from $250,000 in 2022 by Proposition 209). If your equity is below the cap and you stay current on the mortgage, you generally keep the home in Chapter 7. Chapter 13 can also be used to cure mortgage arrears over the plan period.
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Office Location
Law Office of Daniel J DeRienzo, PLLC
8128 E Florentine Rd Ste B
Prescott Valley, AZ 86314
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