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Bankruptcy lawyers in Denver, CO can also help you with the process. Chapter 7 includes many different processes, including: AssetLiquidation: The business’s non-exempt assets are sold off to pay creditors. Discharge of Debts: After liquidation, any remaining unsecured debts are discharged.
However, because assets do not secure these debts, bankruptcy may help eliminate them. To qualify for Chapter 7 bankruptcy, debtors must pass a means test that compares their income to their state’s median income. How Can a Bankruptcy Lawyer Help Me With Managing Unsecured Debts? In this case, you create a repayment plan.
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