Find out your options and the truth about filing for Chapter 7 bankruptcy.
The recent bankruptcy reforms have changed the criteria for determining eligibility for Chapter 7 bankruptcy, which is sometimes referred to as a “liquidation bankruptcy” or “straight bankruptcy.” The laws still allow consumers and businesses in need of a “fresh start” to file for Chapter 7 bankruptcy. If you have questions about whether you qualify to file for debt relief under Chapter 7 bankruptcy, call our Denver law firm to schedule an appointment with an experienced bankruptcy lawyer.
Why should I choose a Chapter 7 bankruptcy?
Unlike a Chapter 13 bankruptcy, a Chapter 7 bankruptcy requires no payment plan. In a Chapter 7 bankruptcy, you liquidate all non-exempt assets (if you have any), and use the proceeds to satisfy your unsecured and under-secured debts according to the bankruptcy code.
A Chapter 7 bankruptcy eliminates all your debts (except those you reaffirm, possibly your mortgage and car payments), and allows you a fresh start. The law recognizes people make mistakes and that unforeseen circumstances can cause undue hardship on people. People lose their jobs or are forced to take a reduction in pay, illness happens, and rising interests rates can cause people to become overextended.
By filing for Chapter 7 bankruptcy you can stop foreclosure proceedings, repossessions, and debt collection efforts, including those annoying, and often harassing, phone calls.
A Chapter 7 bankruptcy isn’t right for everyone, and a qualified Chapter 7 bankruptcy attorney can help you figure out if filing for Chapter 7 bankruptcy is right for you. At Harold Faletti, we provide comprehensive legal services to clients in financial distress.
Contact Us · Thornton Debt Relief Attorney
Do you have questions about bankruptcy and divorce in Colorado? We can help. Contact us today for a free initial consultation. Call us at (303) 438-8477 to speak with an experienced Broomfield bankruptcy lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.