Albuquerque Chapter 7 Bankruptcy Attorney
When considering whether to file for personal bankruptcy, first consider talking to a lawyer. The bankruptcy process is confusing and can be overwhelming without an attorney to guide you through it. Call our experienced Albuquerque Chapter 7 bankruptcy lawyer for a free initial consultation at 505-633-8723.
Chapter 7 bankruptcy is the type of bankruptcy case that most people think of when they hear someone talk about “filing for bankruptcy.” In a Chapter 7 case, many of your debts are canceled forever. However, state law in New Mexico, provides that certain types of debts are not allowed to be canceled by a bankruptcy filing. These are debts that you will still have to pay, even after your bankruptcy case is finished.
Attorney Matthew Gandert will determine whether any of your debts cannot be included in your bankruptcy case after reviewing the specifics of your case. Some types of debts that New Mexico prohibits from bankruptcy protection include child support, certain taxes and student loans.
Chapter 7 cases:
- Generally take four to six months from filing to complete and require you to complete credit counseling
- Immediately stop most creditors from trying to collect from you once you file
- Will not cancel certain debts prohibited by state law
Chapter 13 bankruptcy allows you to keep your property, but you must continue to repay your debts over a newly calculated time period and under court-ordered conditions. The terms of the payments you will make depend upon how much you owe and the value of your property.
Chapter 13 cases:
- Require that you prove to the court that you have the income to be able to repay the debts you owe and that you complete the required budget-counseling course
- Limit your eligibility to file under this category depending on the amount of debt you have
- Conclude once you complete the repayment plan and meet some other conditions such as remaining current with child support and alimony obligations
Contact an attorney at 505-633-8723 to discuss your unique situation and which options are right for you. We represent clients all over New Mexico. If you live outside of the Albuquerque area, we can make arrangements to contact you via email, regular mail or fax.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.