Although the filing for bankruptcy is never an easy decision, you need not make this decision alone. Gary Gottesfeld understands the heavy burden of debt and the relief that comes with resolving debt issues. He will take the time to review your debts, assess your case and analyze your particular situation.
The most common type of bankruptcy is filed under Chapter 7 of the Bankruptcy Code. This type of bankruptcy is available to both individuals and businesses including corporations. An individual may not file a Chapter 7 bankruptcy if he or she has filed one within the previous eight years. With several exceptions, Chapter 7 bankruptcy can result in the discharge of all your indebtedness, stop garnishments, stop foreclosures, stop debt collectors and stop lawsuits. The most common exceptions are student loans, child support, civil fines and criminal fines. Generally income taxes may be subject to discharge under certain circumstances.
An individual who files Chapter 7 bankruptcy may keep certain property called “exempt property.” The Chapter 7 bankruptcy is an option available to individuals with income at or below the median income in Colorado. In the event the individual’s income is above the median income a “means test” is applied to determine whether Chapter 7 bankruptcy may be allowed.
Individuals can keep a debt by executing a Reaffirmation Agreement in which the Debtor agrees to continue to be liable for a debt. Reaffirmation Agreements are usually used by Debtors who wish to keep a home, car or personal loan to a relative or friend.
Mr. Gottesfeld understands the tough financial issues faced by hard-working people and families. Whether you have been struggling with your debt for years or have experienced a recent setback, he will provide caring counsel and practical alternatives. He can also help if you are a business which requires liquidation.
Contact Gary Gottesfeld today for experienced result oriented representation in bankruptcy matters. A free consultation is offered to all new clients. Mr. Gottesfeld can be reached at 303-892-7000 or via email below to schedule an appointment.