Chapter 7 Howard Goodman
YOUR DENVER BANKRUPTCY ATTORNEY
Chapter 7 Bankruptcy, sometimes mistakenly referred to as “liquidation” is the most common form of bankruptcy filed in Denver and the United States. The process involves meeting with an experienced bankruptcy attorney to analyze your situation to determine if chapter 7 bankruptcy is right for you. For many people that I meet, bankruptcy is not a good option.
If it makes sense for you to file chapter 7 bankruptcy, the next step is preparing a Bankruptcy Petition which on average is 50-80 pages long. Federal Bankruptcy Law requires debtors to list all debts and all assets in the petition. There are no exceptions. In addition Debtors must fill out a Statement of Financial Affairs which includes questions regarding income, lawsuits, foreclosure, businesses, closed bank accounts, sales of property and several other matters. I assist you in the preparation of these legal documents.
Debtors must qualify to file for this type of bankruptcy. The qualification is calculated using an 8 page government formula to determine whether debtors are above or below the median income for their State and County of residence.
Prior to filing the Chapter 7 Bankruptcy, debtors must complete a credit counseling class and obtain a certificate of completion which is filed with the Chapter 7 Bankruptcy Petition. A second credit counselling call must be completed post-filing, as well.
Once the Petition is prepared it is electronically filed with the U.S. Bankruptcy Court. This is Federal Court not State Court.
Once the Chapter 7 Case is filed, garnishments, collections, lawsuits and foreclosures will be stopped. The Court will send out a Notice of Filing to all creditors that you have listed in your Petition. I will send a notice to get the lawsuits, garnishments and foreclosures stopped as soon after your case is filed as possible. Generally within a few hours.
Approximately 30 days after your Bankruptcy case is filed, you are required to attend in person a Meeting of Creditors which is run by a Bankruptcy Trustee appointed by the United States Trustee which is a division of the U. S. Department of Justice. I represent you at the Meeting of Creditors. The Trustee is trying to determine if you have any assets that are not protected by law that can be sold for the benefit of the creditors. The Trustee is also looking to see if you have committed any fraud, improperly transferred assets prior to filing. I generally try to resolve all of these issues prior to filing so that you do not need to worry about it.
Please call us to set up a consultation so we can determine which type of Bankruptcy filing, if any, is the right course of action for you.
Related posts Montgomery: Other Montgomery
Eagle Wrecker Georgetown
Trust Our Proven Track Record For Your Heavy Duty Towing Needs
When you hire a wrecker service, you need confidence that the equipment used to move your asset is up to the task and well maintained. You also want assurance that a well-trained, experienced team of operators will be handling your equip
Brooks Kolb LLC
Our residential Seattle garden design solutions involve the client throughout the process. We bring our expertise and vision to help you realize your design theme, formulating a sustainable landscape design that fits your architectural style within the Pacific Northwest ecological framework.
A+ Plus Windshield Replacement Mesa
Phoenix Auto Glass Replacement – Phoenix Auto Glass Repair
When a windshield is functioning as it should, you barely even know it exists. However, when a chip or crack appears, your eyes are constantly driven to the unsightly blemish. If the imperfection blocks or obscures your vision, it then becom
NEXTFLY Web Design Scottsdale
Web Design Process
We gather all the required information from you that we will need. That will include inspirational sites/designs that you like, logo graphic file, any additional images you would like us to include, the main purpose of the site (email leads, phone calls, online purchasing, etc.),
All Star Seattle Fishing
SEATTLE FISHING CHARTERS
Spending quality time fishing and having fun with family or friends on Puget Sound. This is what we strive to offer you at All Star Fishing Charters.
When you hire a fishing charter, you want to spend quality time fishing and having fun. You also want a captain who knows wh
LinkHelpers Scottsdale Web Design
Your website is an investment in the future of your business.
Your most important advertising tool is just a click away. What kind of website are your customers clicking on? You need a website that will impress new customers and make you stand out from the competition. You need a websi