The Law Offices of Allen A. Kolber, Esq. files Chapter 7 Bankruptcy cases for individuals and families who have no assets and whose household income falls below the average household income of a similar family living in the same county.
Most of our Chapter 7 bankruptcy clients are:
- They have suffered a loss of employment, divorce or serious medical issues.
- middle class families with both spouses working
- own a home or condo
- they have paid for their children's college educations, or are currently paying their children's student loans.
- one or both spouses has a college or Masters Degree
Our typical Chapter 7 Bankruptcy clients end up keeping the following exempt assets:
- $21,000 worth of personal property;
- Up to $4,000 worth of a motor vehicle;
- Up to $300,000 in Homestead Exemption (equity in your home);
- Up to $1 million in IRA, 401(k), Keogh, Social Security, Unemployment, Disability, Public Assistance, Worker's Compensation, or Veteran's Benefits;
- $3,000 in tools of the trade;
- Up to $7,500 in payment for personal injury;
- Unlimited court ordered alimony, maintenance or child support;
- Ninety percent of all income receive within 60 days before filing your bankruptcy case;
Our typical Chapter 7 Bankruptcy clients end up discharging most of their unsecured debt:
- medical debt
- credit card debt
- bank lines of credit
- personal loans
- car loans (only if they wish to give up their car)
- Mortgages (only if they want to give up their homes)