Achieving Debt Relief Through Chapter 7 Bankruptcy
If you are tired of dealing with massive amounts of debt and cannot imagine a way out, it may be time to consider bankruptcy as an option.
Chapter 7 bankruptcy provides relief to individuals who have been experiencing harassing phone calls, wage garnishment and other negative effects of debt.
Relief is available. Call us at 303-800-7214 to schedule a time to meet with attorney Jeffrey L. Hill.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a type of consumer bankruptcy that is commonly known as “liquidation bankruptcy.” When an individual files Chapter 7 bankruptcy, the vast majority of his or her unsecured debts are eliminated, or liquidated.
Some people may be required to give up certain assets to pay back debts when filing Chapter 7 bankruptcy. However, the majority don’t. Statistics show that at least 90 percent of individuals who file Chapter 7 bankruptcy do not lose any money.
In most cases, a Chapter 7 discharge takes about 100 days from start to finish.
Eligibility for Chapter 7 bankruptcy is determined through a means test. The means test considers your income, debt and other factors. If you do not qualify for Chapter 7 bankruptcy, you can still file for Chapter 13 bankruptcy.
There are certain types of debt that are nondischargeable in bankruptcy:
- Most student loans
- Most income tax
- Child support and spousal maintenance debt
- Criminal fines
- Court costs
- Debts incurred through fraud, embezzlement, theft, etc.
Flat Fee Representation: Schedule a Free Initial Consultation Today
We offer Chapter 7 bankruptcy representation on a flat fee basis. This price is negotiated upfront and varies depending on the complexity of your case.