What is Chapter 7 Bankruptcy?
Chapter 7 is a legal process that allows you to eliminate debts and get a fresh start. In order to qualify for Chapter 7, you must pass the means test, which will consider your assets, debt and income.
What Debts Can I Eliminate?
Primarily, bankruptcy is useful to eliminate unsecured debts including medical expenses, credit card debts and judgments. While you cannot eliminate support obligations, tax debts and other secured debt, you can re-establish your credit and organize payments to get back on track.
What Are the Benefits of Filing?
There are countless benefits to filing bankruptcy. A bankruptcy will stop creditor harassment, prevent wage garnishment, put an end to creditor actions, reduce your overall debt obligations and help you take charge of your finances. It is the quickest way to jump-start your financial independence.
Will I Ever Have Credit Again?
Filing bankruptcy will eliminate your debts and give you a fresh start. For many lenders, this means additional opportunities to provide credit to individuals who have been released from earlier debt obligations. If you continue to make payments and do not accumulate debt, you can rebuild your credit very quickly.
Do I Have Other Options?
If you do not qualify for Chapter 7, you may be able to file a Chapter 13 bankruptcy, which is better suited for clients interested in asset protection and the reorganization of debt. Under Chapter 13, you will repay your creditors according to a payment plan over a period of three to five years, after which the remainder of your debts will be dismissed.
Is Bankruptcy Wrong?
Many people do have moral or religious reservations with filing bankruptcy. However, it is completely within your constitutional rights. Furthermore, legal and strategic bankruptcy allows a debtor/creditor system that helps build capital in a complex market economy.
If you qualify for bankruptcy, you have the right to file under federal law. There are no penalties for filing bankruptcy. A bankruptcy will stop all collection efforts, but you are always able to repay creditors on your own.
Do I Need a Bankruptcy Lawyer?
Without experienced legal counsel, you could face delays or mistakes that could have serious consequences on your rights. You could also lose property and have complications with creditors in the future. As your Boulder Chapter 7 bankruptcy attorney, I will take every necessary step to protect your rights and achieve an optimal outcome in your case.
Submit Your Information to a Chapter 7 Bankruptcy Attorney
To submit information directly, please follow this link to our secured site or you can print a PDF or Word Document. We have been using this form for many years to collect information about our potential clients. You can trust that this site is secure and the information will only be used if you decide to use our services. This intake form organizes information necessary to your petition, including tax returns and pay stubs. When you meet with me, we will go over your income, assets and debts to determine an appropriate course of action for debt relief.
Call 303-444-8366 or contact me by e-mail to arrange an initial consultation and case evaluation directly with an experienced Longmont debt relief attorney. I provide reasonable fees and work with clients to help them achieve their goals in debt relief.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.