chapter 7 bankruptcy law
You also are allowed to protect or "exempt" certain assets from creditors claims, which the government considers "necessary" and "non-luxury." Such exempt assets include food, clothing, housing and shelter, automobiles, household goods, jewelry and business assets up to certain maximum values. Qualified retirement accounts are typically fully exempt. Any non-exempt asset can be seized and sold by the Chapter 7 trustee and used to pay creditors - that is why we do proper planning to protect your income and assets!
you should know
We are a debt relief agency and help Colorado residents obtain financial relief by filing for personal bankruptcy under Chapter 7 and Chapter 13 of the U.S. Bankruptcy Code.
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