Chapter 7

The majority of New Mexico bankruptcy filings are personal chapter 7s. My goals for your chapter 7 are to preserve your assets and get your debts dismissed.

A chapter 7 costs $1,750 for a single person and $1,800 for a married couple. Most chapter 7s are not that complex and don’t require much beyond analysis of your financial position, filing guidance, foreclosure, and repossession advice, some creditor negotiation, assistance with tax and student loan debt, exemption planning, attendance at hearings, and recovery of garnishments.

However, there are certain things that will cost more, such as amending a petition because you did not tell me about something (such as adding a creditor) or defending an adversary action (lawsuit within the bankruptcy).

A business may also file bankruptcy to have the court liquidate assets and pay creditors. A business bankruptcy is usually accompanied by a personal bankruptcy.