Legal Services : We Focus on Individuals & Small BusinessesDiane Drain, attorney and retired law professor2022-06-19T10:35:08-07:00

Client’s peace of mind

“I enjoy helping those who are facing financial difficulties and seeking help with bankruptcy. My goal is to make a positive impact on their lives.”

Nothing makes me happier than stopping a client’s wage garnishment when that client is barely able to feed their family. When I inform an overzealous debt collector that they can no longer contact my client or attempt to collect the debt, it provides my client with more peace of mind. Years later, I’m delighted to hear from the same client, who is now able to refinance their home or purchase a new vehicle. This is why I decided to go to law school in the first place.

Diane L. Drain

small business bankruptcy & individual bankruptcy
Individual Bankruptcy & Small Business Bankruptcy

A great bankruptcy lawyer must be:

A great bankruptcy lawyer must be well-versed in a variety of fields, including taxation, labor relations, divorce, and business law, to name a few.  This requires a good bankruptcy attorney be constantly learning new law.

Perhaps now you can see why I think bankruptcy law is fascinating.

Individual Bankruptcy

Dealing with debt or making plans for the future of your assets can be extremely stressful. Don’t go through either of these trying times by yourself.  As an Arizona bankruptcy and asset protection lawyer I want to help you in making long-term life changes today that will lead to a better tomorrow. Schedule a free initial consultation with Diane L. Drain to learn more about how we can help you navigate Chapter 7, Chapter 13, and plan for your future.

Small Business Bankruptcy

Bankruptcies may be necessary to keep aggressive creditors from shutting down a viable but overburdened business. This is known as a Chapter 11. A corporate bankruptcy is frequently filed in conjunction with a personal bankruptcy, depending on circumstances.

Small Business Liquidation via Chapter 7 Bankruptcy

Chapter 7, on the other hand, is an option for a company that wants to stop operations and close down the business through the Arizona bankruptcy court.

Business Continues to Operate via a Chapter 11 Bankruptcy

When a company wants to reorganize its debts and emerge from bankruptcy as a healthy, viable company, Chapter 11 is used. There are frequently benefits to proceeding in this organized manner rather than allowing the company’s creditors to engage in a feeding frenzy akin to a school of piranha devouring its prey. Declaring bankruptcy can provide access to benefits that would otherwise be unavailable if the business did not file for bankruptcy (such as tax breaks, or reducing the secured debt on depreciating assets). I refer these companies to other highly qualified chapter 11 bankruptcy attorneys.

Bankruptcy Laws

Some of you who have strong views about bankruptcy.  But I am sure that none of you want a family to starve or be thrown into the street because the parent’s wages are being garnished due to a huge medical bill.

know your rightsIt is critical that debtors are aware of their rights and make full use of the law to protect their assets. Bankruptcy can be used to stop foreclosures and trustee sales, as well as wage garnishment and harassing phone calls to your home or workplace.

The bankruptcy laws may allow the debtor, or the trustee or creditors, to go back in time and reclaim assets the that the creditor garnished or took by legal force, or  that the debtor sold for less than fair market value, or paid friends or relatives and not their other creditors. These assets are returned to the bankruptcy estate and distributed to the creditors in a fair manner.

Creditors have rights too.  Injured creditors should not be passive during a bankruptcy. To be protected, they must actively participate in the process.

Assisting Debtors in understanding their rights

I’ve been assisting individuals and small businesses with financial issues for more than three decades. No one has ever approached me enthusiastic about the prospect of filing for bankruptcy or being involved in one. The bankruptcy law is intended to help both debtors and creditor safeguard their property interests. Because bankruptcy law is so complex, making the proper decisions and avoiding the pitfalls require an experienced bankruptcy lawyer.

When a bankruptcy petition is filed, both creditors and debtors’ lives might be drastically altered.

The primary principles of bankruptcy are to give debtors a fresh start and to ensure that creditors get a fair allocation of available assets. What a fantastic result!

woman hiding in bedSomeone’s life is barely holding together before applying for bankruptcy protection.  They are afraid of answering their phone; they are embarrassed at work by calls from collection agencies; and they may be afraid of losing their home or automobile.

Many of my clients tell me that after filing for bankruptcy, they can breathe easier and sleep better at night. They walk into work with their heads held high, aren’t afraid to answer the phone, and can read their mail without feeling queasy.

I have even had some reluctantly share with me that they were contemplating suicide before they called me.  Our clients are subjected to unspeakable horrors.

My most memorable story was an 82 year old widow (who just buried her husband of 60 years), tell me that an American Express debt collector said he had the “had the legal right to bring a moving van to her residence and take whatever he wanted.” Which, of course, was a lie, and done with the sole intent to intimidate this wonderful woman. Every consumer debtor attorney has a slew of these stories.

Don’t get me wrong: I am a responsible woman who believes that everyone should pay their bills. But, if those financial obligations have gotten so overwhelming that my clients must choose between buying needed medicine and paying their credit card, I am grateful they have the legal opportunity to file for bankruptcy and start again.

Over the last 20 years, some creditors, particularly credit card companies, have grown excessively greedy and deceptive.

My clients are frequently forced to file bankruptcy because of these creditors. The vast majority of my clients want to pay their debts, but there is no money to pay unless they rob a bank.

Creditors are sometimes abused by borrowers.

Debtors take on debts that they have no intention of repaying. The debtors deceive their creditors by falsifying their financial statements. They lie about assets on purpose and employ every trick in the book to deceive existing and new creditors. The bankruptcy laws are also intended to assist creditors. If a debtor sells assets for less than they are worth, puts debts on credit cards knowing they will not be able to pay, or fraudulently takes money without intending to pay, those creditors are not the aggressors; they are the good guys.

“All of this and more is why I am delighted to be able to help debtors in understanding bankruptcy.”

Clients from all across Arizona have put their trust in us

5 / 5

“Top Notch Representation, Personalized Service!” T.M.

Diane Drain personally answers her incoming calls! Every individual has their own specific reasons for seeking bankruptcy protection. I enlisted Ms. Drain’s assistance and from that first consult I realized that this was not your typical “legal factory” churning out client cases. Following my discharge and reflecting back, her biggest strength and your most viable asset is her knowledge of the bankruptcy process. Her tenacious commitment to the prework stage (planning and preparation) is paramount to your case’s success. I’ve found her to be compassionate, yet an Arizona “straight shooter” when it came to directing my case.

Thank you, Diane and Jay for the seamless process you provided me!

5 / 5

“Diane shows compassion and understanding to her clients.” M.W.

Diane provides educated and honest information throughout the entire process. She shows compassion and understanding to her clients. She was not my first attorney but took my case on in very short order. She cleaned up all of the mistakes and oversights the previous attorney made.

I am able to sleep now knowing I will not lose my house because paperwork wasn’t filed. I would recommend Diane to anyone.

5 / 5

“Diane was patient, thorough, sympathetic, quick with responses and obviously knew what she was doing.” D.S.

I’ve never had to consult a bankruptcy attorney before but recently had to do just that on behalf of a family member. Although we decided to not go through with bankruptcy Diane was immensely helpful in reviewing our situation and providing very comprehensive information for my consideration. She was patient, thorough, sympathetic, quick with responses and obviously knew what she was doing. I was very impressed and surprised by the effort she put into the matter considering she didn’t charge me for any of it. Very thankful for the help!

small business bankruptcy & individual bankruptcy

Everyone, including attorneys, face difficulties in understanding bankruptcy law.

Every field of law has become far too sophisticated for the majority of people, including excellent lawyers, to comprehend.

Many of us believe that legal services, especially competent legal advice, is out of reach. While that may be true in some areas of law, it is not for clients seeking bankruptcy help. Because in our office the initial consultation is FREE.

Beware: the Internet, neighbors and acquaintances, as well as inept lawyers and document preparers, are all sources of potentially very bad “legal advice” that will be extremely costly to correct later.

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