Diane L. Drain – Arizona Bankruptcy Attorney in Phoenix, MaricopaSite Producer2021-01-23T16:50:47-07:00


Diane L. Drain Profile

Diane L. Drain “Knowledge dispels fear”

My goal is to help you understand your options. Our discussion is solely educational, with no commitment to filing a bankruptcy.

WHY HIRE ME? As a well-known Arizona bankruptcy attorney, I am here for you and committed to treating you with respect – you are never just a number and a paycheck.  Instead, you are a unique person with unique needs.  I am dedicated to helping you help yourself, at a very difficult time in your life.  If bankruptcy is necessary, it is not the end of your financial life; it is the beginning of your financial freedom.  But done wrong it is the beginning of a nightmare. Please take advantage of a free bankruptcy consultation with me (a retired law professor) before deciding the best path that will protect you and your assets.

Why did I decide to concentrate on bankruptcy?

It’s simple – this area of law reminds me of why I went to law school – to help others in their time of need.  My goal is to be an experienced guide for all my clients.  To help them to traverse the crevasses between their needs, the law, and the bankruptcy system.  I don’t tell my clients what to do; instead, I explain the legal and practical issues in order for them to make informed decisions. More about Diane.

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Client’s Choice 2020

Yelp Link

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Since 1991 we helped over 2,500 people find financial security.

Our clients seek our help from an Arizona bankruptcy attorney at time their lives are turned upside down; most are scared and just want a calm nights sleep. Our responsibility is to guide our clients toward that peaceful sleep, but requires hard work. Many of these reviews describe their successful travel to that peaceful life.


Most Recent Client Review

  • Diane

October 21st, 2021|


They answered all our questions patiently and thoroughly explained the legal processes and what we could expect so there were no surprises. . T.D and R.I.

DianeDiane and Jay are an absolutely phenomenal professional team. Bankruptcy is not an easy undertaking and there is a lot of paperwork you have to gather before filing so be prepared and do not get annoyed because Diane and Jay will guide you every step of the way. Try looking at it as a valuable learning experience to get you back on the right track to financial stability. They answered all our questions patiently and thoroughly explained the legal processes and what we could expect so there were no surprises. Her website is a fantastic reference for both clients and attorneys. Spend some time reviewing it and you’ll be convinced that she is the right attorney for you. From your first call to Diane you will immediately see that she is compassionate in understanding your situation and will feel confident that she is the right attorney to proceed with. Keep in mind that she has been specializing in bankruptcy’s for about 30 years and is held in high esteem within the court system. Her fees are very reasonable and her Yelp review page says “discounts available” which we found to be true as my spouse and myself are both veterans and we originally connected with Diane through a link upon another link within the VA Weekly Newsletter. We highly recommend Diane and Jay and are most grateful for all the kindness and respect they showed us in handling our case to completion. T.D. and R. I.

Individual Bankruptcy

Business Bankruptcy

Foreclosure / Trustee Sales


Standing by you post coronavirus (COVID-19)

The coronavirus crisis has affected businesses and individuals in every industry, and the road to recovery will be challenging – but, this is also an opportunity for innovation.

Managing cash flow, financial and contractual commitments, customers and clients, protecting jobs and retaining talent is of paramount importance.

As we look beyond the pandemic, lockdowns and government funding, what does the future hold? And as we now assess the return to work, and businesses begin to open their doors across the world, it is vital that you safeguard key business assets and plan carefully for the way ahead, however rocky it may seem.

We are here to help.

Bankruptcy is complicated

As an Arizona bankruptcy lawyer, I recognize bankruptcy is complicated and must be treated with respect. Many people file bankruptcy on their own or using inexperienced attorneys. This can be the beginning of a nightmare. These folks lose their tax refunds, vehicles, inheritance and certain property that is important to them. Normally these problems can be avoided if a bankruptcy is planned properly.

When a bankruptcy is filed a “magical” umbrella, called the automatic stay, protects the debtor and their property. This umbrella is so powerful that it stops almost everyone in their tracks – even the IRS. Unless a bankruptcy court orders otherwise a mortgage company, bill collector or creditor cannot meddle with the debtor or any property of the debtor.

Our commitment to each client is to provide them the best guidance we can. Here are some comments from my clients.

For Lawyers

Basic Legal Information for Lawyers  

Provided by an Arizona bankruptcy attorney for fellow lawyers. The practice of law becomes more complex each day. The day of the attorney who “does it all” is rapidly waning. Not because one attorney cannot provide good legal and practical advice in several areas of law, but because they probably should not.

Each day there are new laws, new court decisions, new policies or administrative procedures that directly influence existing laws. Each of these changes impact other areas of law. For instance, a change in the tax law affects bankruptcy or real estate law. Or, a federal court decision directly impacts existing state laws.


Recent Posts

Medical Debt Purchased by Debt Buyers for Pennies on the Dollar, but Sue For the Full Amount

August 29th, 2021|

Dirty Little Secret – medical bills are the highest they have ever been and debtor buyers are paying pennies on [...]

Three Arizona Democrats decide that Creditors and Debt Buyers are More Important than Homeowners

May 17th, 2021|

On January 1, 2022, HB2617 will become the law of Arizona.  Your home is no longer protected from your judgment creditors, which will have [...]

As a law professor, I told my students that parts of bankruptcy are magical.

My goal is to educate you about the options and the process from beginning to end.  I also help you plan for your future.  Our firm is Committed to Quality, not focused on Quantity.

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