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STOP GARNISHMENTS. ELIMINATE MOST DEBTS ENTIRELY.
REMOVE JUDICIAL LIENS FROM YOUR HOME IN MOST CASES.
ELIMINATE SOME BACK TAXES. WIPE AWAY BUSINESS DEBTS.
KEEP ALL YOUR PROPERTY IN MOST CASES. A Chapter 7
bankruptcy is the quickest bankruptcy available,
enabling you to walk away from most debts. Most people
are still able to file Chapter 7, even after bankruptcy
"reform." However, a stringent formula is now applied to
your financial means to determine whether you qualify to
file Chapter 7. Your expenses are strictly scrutinized
and compared to your income in order to determine how
much you could afford to repay your creditors.
CLICK HERE FOR
DETAILED ANSWERS TO YOUR QUESTIONS ABOUT CHAPTER 7
BANKRUPTCY, INCLUDING DETAILED INFORMATION ABOUT
BANKRUPTCY REFORM.
Get Help Now
GET AN
IMMEDIATE EMAIL RESPONSE RIGHT NOW.
NO-CHARGE FOR FIRST OFFICE CONSULTATION.
Chapter 7 bankruptcy is referred to as a "liquidation"
but this is misleading. Ordinarily, you lose no
property because the usual property owned by most people
is exempt. The most common exemptions are as follows:
- $60,000 worth of equity in
your home (or in reality, a little more than $60,000
worth of equity when the hypothetical costs of sale
are calculated) If you are elderly or disabled, the
limit is $90,000.
- $5,000 per motor vehicle
for each debtor ($10,000 per debtor if elderly or
disabled)
- 100% of the money held in
an ERISA-qualified retirement account (for example,
your 401(k) or IRA account)
- $3,000 worth of household
goods per debtor (value is calculated at replacement
value for like-kind goods; in other words, what
would it cost to purchase a 10 year old washer
today?)
- Many other exemptions
specific to your situation are available.
Credit counseling is now required before you file
bankruptcy, under most circumstances. A certificate
that you have obtained credit counseling is required to
be filed with the court. Credit counseling takes about
an hour or two and can be done on the internet or on the
telephone.
Click here for a list of approved credit counseling
providers.
More about Morris Law Firm . . .
"I cannot thank you enough for all of the work
you performed on my recent Chapter 7 bankruptcy
case. My case had implications in two states,
extenuating and unusual expenses to be
claimed, and required you and I to challenge the
existing bankruptcy law in Colorado and set
precedent for how future cases with my
circumstances would be handled.
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.
I prefer to work and communicate through e-mail
or other electronic means and your proficiency
in this area was equally as impressive. You and
your staff responded promptly to every
communication sent and kept me apprised of case
developments in a very prompt manner via e-mail.
I will unequivocally recommend your services in
the future and, should you ever require a client
reference, please feel free to pass along my
contact information." -- T.L., Littleton,
Colorado
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