MORRIS LAW OFFICE
William A. Morris, P.C.		 Colorado State Bank Tower
1600 Broadway, Suite 2600
Denver, Colorado 80202
Telephone: (303) 691-9004
Facsimile: (303) 339-0008
Email: WAMorris@WAMorrisLaw.com
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Don't be a cog in the machine.

Get personalized and professional legal help.  Avoid the bankruptcy mills.  "After seeking consultations from two other law firms in downtown Denver and getting the distinct impression that they were "bankruptcy mills," and would not give my case the special consideration it would require, I saw the claim of individual attention and fair fees on your website and sought out your services.  From the initial consultation through the eventual discharge of debts, you and your staff were exceptionally professional and accommodating."
-- Past client "TL" in Littleton, Colorado 
Chapter 13 Bankruptcy can fix what Chapter 7 can't fix.

Knowing when to file a Chapter 13 bankruptcy is an important skill that a lawyer only gains with experience.  A Chapter 13 bankruptcy isn't just filed for people who earn too much money.  Through a Chapter 13, you can restructure taxes at a very favorable interest rate.  In many cases, you can strip off your second mortgage, meaning you get to keep your house without having to pay the second mortgage.  Finally, if a Chapter 7 bankruptcy is filed when you really should be filing a Chapter 13 bankruptcy, your case will receive unwelcome scrutiny from the bureaucrats in the office of the US Trustee -- up to and including a motion to dismiss your case.

  1. STOP FORECLOSURES.
  2. ELIMINATE YOUR SECOND MORTGAGE IN MANY CASES!
  3. GET THE TIME YOU NEED TO CATCH UP YOUR MORTGAGE PAYMENTS OVER THREE TO FIVE YEARS.
  4. ELIMINATE YOUR SECOND MORTGAGE IN MANY CASES! STOP IRS TAX LEVIES.  GET THE TIME YOU NEED TO PAY BACK TAXES.
  5. ELIMINATE SOME BACK TAXES ENTIRELY.  STOP EXCESSIVE TAX PENALTIES.
  6. AVOID LOSING VALUABLE PROPERTY YOU MIGHT OWN THAT IS NOT PROTECTED IN CHAPTER 7

A Chapter 13 bankruptcy is a plan of financial reorganization.  Contrary to popular belief, Chapter 13 does NOT mean that you must repay all your debt.  Most Chapter 13 plans involve the repayment of about 25% (sometimes much less, sometimes more) of your debts over a three to five year period.  The debt that is not repaid is "discharged" or written off when you complete the bankruptcy repayment plan.  Click here for Chapter 13 Frequently Asked Questions

Chapter 13 bankruptcy is based in part on your ability to repay.  However, under bankruptcy "reform", your ability to repay is determined mainly by application of "allowable" expenses established by the Internal Revenue Service's collection standards.  This means that even though your expenses may be higher than the IRS' idea of "average" you will still only be allowed to deduct the maximum allowable expenses in each category from your income.  Your net after tax income -- minus your allowable monthly expenses -- equals the amount of the monthly check you must write to the bankruptcy trustee under a Chapter 13 reorganization plan.  However, certain other types of expenses are deductable without any pre-set limits; for example, day care expenses, medical insurance, the full amount of your mortgage payment, and your ongoing 401(k) contributions.

If you are one of the few bankruptcy candidates that has non-exempt property to lose in Chapter 7, then Chapter 13 may be for you.  Non-exempt property is property that isn't protected by the laundry list of bankruptcy exemptions.