Chapter 7 Bankruptcy Attorneys in Boulder
Helping Clients Reduce Debt
In Chapter 7, you are required to fully disclose your assets and liabilities to the Bankruptcy Court. Your assets, minus certain exemptions, go into the bankruptcy estate, which are then liquidated to pay your debts. The remaining balances owed are then discharged. In order to obtain a bankruptcy discharge, a debtor is required to make an extensive disclosure of their assets and liabilities, as well as certain financial transactions they engaged in prior to the filing. In addition, the chapter 7 debtor is required to testify under oath regarding their financial affairs.
Many of our clients do not lose their assets in bankruptcy, because certain types of assets can be claimed as exempt.
As soon as a bankruptcy petition is filed, the law requires that all collection activity must stop, including harassing phone calls, letters, and lawsuits.
Contact us online or by phone at (303) 816-3171 to speak with an experienced attorney if you are considering filing Chapter 7 bankruptcy.
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"Excellent communication, very prompt on returning calls and emails."
Katie is a fantastic attorney! She is very thorough, detailed, and supportive. She is wonderful to work with, so courteous and friendly. Excellent communication, very prompt on returning calls and emails. She did a wonderful job representing me. Highly recommend Katie!- Kimberly Fajt -
"I would recommend them first!!"
Katie was very good at being responsive to my court matters. She and Jack were always so nice and respectful! I would recommend them first!!- Lynnea Archuleta -
"She completed more work in one week than my previous attorney had accomplished in six months."
Attorney Katie Goff is phenomenal! She’s educated, punctual, caring; yet authoritative. I was between a rock and a hard spot when she agreed to take on my messy case. She completed more work in one week than my previous attorney had accomplished in six months. I appreciate everything she and her staff accomplished for me, and will forever be indebted.- Lyn Lane -
"Lance GOFF is one of the most intelligent bankruptcy attorneys in Denver and Boulder."
Lance GOFF is one of the most intelligent bankruptcy attorneys in Denver and Boulder. He represented our family with excellence. We had a long and highly adversarial case which spanned 3 years and concluded with a four day trial. He is a truly gifted trial lawyer who defends his clients with every once of energy he has. Thank You Lance for everything!- Jeff Mullins
Eligibility for Chapter 7 Bankruptcy in Boulder
Chapter 7 Means Test: Consumer debtors who earn above-median incomes are subject to means testing, and if they fail means testing they can be required to reorganize under Chapter 13, under which payments to creditors are required for a minimum of 3 years. Higher income debtors who have enough qualifying expenses can pass the Means Test and still file for Chapter 7. Our qualified bankruptcy attorneys will help you determine whether you are eligible for Chapter 7 bankruptcy or whether you should consider other debt relief options.
Click here for an Interactive Means Test, which may assist you in determining whether you qualify to file Chapter 7 Bankruptcy. As you will see if you work on a Means Test calculator, the formula is lengthy and complex. If you are an above-median income consumer debtor, you should consult a bankruptcy lawyer to determine your eligibility to file.
Understanding the Chapter 7 Means Test
As of April 1, 2024, median income for a household of 1: $77,331; household of 2: $101,720; household of 3: $120,195; household of 4 is $135,820.*
*$9,900 is added for each individual in excess of 4.
For up-to-date information regarding current median income figures please click on the link below:
https://www.justice.gov/ust/means-testing/20210515
Contact us online or by phone at (303) 816-3171 to speak with an experienced attorney if you are considering filing Chapter 7 bankruptcy.
