Freedom From Excessive Debt
Very few credit card companies explain the slippery slope of credit card debt to their borrowers. It might start with gas and other basic household expenses, then an emergency or other unforeseen expense gets put on the card, and the debt increases. Before long, your debt is multiplying almost exponentially, and you find yourself under a mountain of insurmountable debt. This is a common occurrence, and there was no way you could have foreseen how unbearable it is to owe more than you earn every month.
Whatever the cause of excessive debt, the attorneys of Bishop & Associates, L.L.C., can help you find freedom from excessive debt in Colorado. Fort Collins Chapter 7 bankruptcy attorney Leah Bishop is a tough advocate who helps her clients through the complicated process of bankruptcy.
About Chapter 7 Bankruptcy
Chapter 7 is a debt-liquidation solution. Qualification for Chapter 7 is based on median income relative to the number of household members. If you qualify, Chapter 7 bankruptcy will discharge most unsecured debts like:
- Credit card debts
- Medical bills
- Personal loans
Chapter & can also discharges home debts and protect you from deficiencies in your loans, as well. Chapter 7 is a powerful tool for debtors to get rid of excessive debt and start fresh.
"You might not realize that a lot of your assets are protected. Your IRA, 401(k) and other retirement assets are protected, as is a lot of your personal property up to a certain amount, whether you file for Chapter 7 or Chapter 13. I can help you maximize your debt relief and keep as much of your valued property as possible." ∙ Attorney Leah Bishop
The Chapter 7 Bankruptcy Process
In the Chapter 7 bankruptcy process, you are liquidating your debts. In the simplest of terms, a trustee from the bankruptcy court is charged with acquiring your non-exempt assets, liquidating them and using them to pay your creditors. The creditors then receive that money from the trustee and your debts are discharged. However, most people filing Chapter 7 bankruptcy in Colorado end up keeping the vast majority of their assets. Colorado has very generous exemptions for bankruptcy, and most people keep most of their personal property.
Why hire a good bankruptcy attorney for your Chapter 7?
Some people try to do it themselves with bankruptcy. We discourage that because there is a lot that a good lawyer can do to help you. From the very beginning, we can look at your assets, liabilities and income to help you determine whether filing for bankruptcy is the best decision, and we can help you decide between Chapter 7 and Chapter 13. Also, attorney Leah Bishop provides her clients valuable counsel and represents them before the court and before their creditors throughout the bankruptcy process.
We can help you make the best decisions for your future.
Contact a Fort Collins Chapter 7 Bankruptcy Attorney ∙ Free Consultations
Either call 866-599-1897 or send us an e-mail to talk to a lawyer about your financial freedom.
