Chapter 7 Bankruptcy

Chapter 7 is the most common form of bankruptcy.  Around 95 percent of cases filed in Colorado are chapter 7s.  It is best used to get rid of debts that have no collateral (credit cards, medical bills, personal loans, taxes more than three years old, judgments).  Chapter 7 is not the right choice if you owe current taxes, are behind with mortgage payments.  Some debts can not be “wiped out” in chapter 7.  Student loans are probably the most common example.  Newer taxes are another.

In 2005, Congress introduced a Means Test to bankruptcy.  It is a complicated analysis of your yearly income.  If you make too much money, you may not qualify for chapter 7.

How We Can Help

Berken Cloyes, PC can guide you through the legal processes involved in filing for bankruptcy. The sooner you contact us the sooner we can address your concerns and answer your questions. When our residents want bankruptcy representation, they know that we are the professionals to call.

Schedule an appointment with Berken Cloyes, PC today. We serve residents throughout the state of Colorado. Call us today at 303-623-4357 for a consultation.

Get Caring Assistance Every Step of the Way

You can count on Steve Berken and Sean Cloyes to:

  • Explain how the bankruptcy process works
  • Help you choose the right bankruptcy chapter for you and your family
  • File the bankruptcy case and represent you in court

Immediately upon hiring our office, we help stop harassing phone calls.  You are on your path to financial recovery. 

Bankruptcy Protections

Once you file a Chapter 7 or Chapter 13 bankruptcy, none of your creditors can call you, write you, sue you, garnish you, repossess your car, or foreclose on your home.  This is the benefit of the “automatic stay”.

If your creditors contact you after you file a bankruptcy, you may be entitled to damages. The Bankruptcy Code allows those who have been hurt by violating the automatic stay to recover actual damages and maybe punitive damages, if the creditor acted intentionally.