Start Fresh -
Free Bankruptcy Consultation and Review
Because we are a small law firm we offer the kind of personal service and attention that the bigger firms, often referred to as bankruptcy mills, are unable to. Although we have a large internet presence, most of our client come from referrals.
When you call the firm you will speak directly with an experienced bankruptcy attorney.
Contact us today to schedule a no obligation free initial consultation.
When you visit the office for the first time, an experienced bankruptcy attorney will discuss whether or not bankruptcy is right for you. The attorney will provide advice on which type of bankruptcy offers the best protection of your assets while discharging all of your eligible debts.
If you are a consumer that is overburdened with debt and you see no way out, you may want to consider filing for personal bankruptcy. A Bankruptcy lawyer will process the mountains of paperwork, calculations, and schedules for you, and take the necessary precautions to ensure all of your creditors receive notice of your bankruptcy case. Don't take the chance that one or more of your debts will not be discharged by hiring a petition preparer or inexperienced attorney. An attorney of our firm will ensure that you are provided the affordable quality legal advice and representation you need to get a fresh start.
We charge an affordable fixed legal fee to represent and prepare our consumer chapter 7 and chapter 13 client's bankruptcy petitions. Please see the section below entitled "Additional Information" to learn more about our fees. Our base fee includes full representation through the first meeting of creditors. In most cases, the first meeting of creditors is the only court appearance a consumer will make before receiving the final discharge of their debts. The court charges an additional filing fee.
Myths about bankruptcy
Collection agencies and creditors will often call debtors and allege that unsecured debts that have been reduced to judgments and credit card bills are no longer dischargeable in bankruptcy. These and other similar allegations made by debt collectors simply aren't true. If you have debts that you need to discharge in bankruptcy, you should consult an attorney to learn more about your rights.
Some people are hesitant to file bankruptcy because they feel that doing so will forever ruin their credit. That is another myth credit companies would like you to believe. The fact is, filing for bankruptcy may be the only way for certain individuals, especially those who have stopped paying their creditors, to eventually rebuild their credit and get a fresh start. A bankruptcy legally can remain on your credit report for up to 10 years, but its effect on your credit score can start to diminish the day your case is closed -- if you adopt responsible credit habits such as paying your bills on time, using only a small portion of your available credit and not applying for too much credit at once. There are several lenders that offer both secured and unsecured credit cards to individuals who have filed for bankruptcy. You should start researching ways to rebuild your credit soon after receiving your discharge.
The primary reason people file bankruptcy is because of circumstances beyond their control, such as job loss, reduction in pay, divorce, or significant medical expenses that are not fully covered by insurance. Although filing for Bankruptcy may have a negative impact on your credit, it no longer carries the social stigma it held in the past, especially in these difficult economic times. Bankruptcy laws are there to provide you a fresh financial start when you need it.
If you would like to immediately explore your options under the bankruptcy code relative to your current financial situation simply click here to send a message to our firm, or call our office at 303-297-7729 and ask to speak to a bankruptcy attorney.
In the event you elect to retain our firm to represent your bankruptcy petition you will be provided:
- Information on how to take the required credit counseling course, and
- Easy-to-follow instructions explaining how to gather and submit the remaining information your attorney will need to complete your bankruptcy petition.
Your attorney will be available to answer any questions you may have throughout the entire process.
Bankruptcy Information
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The services the firm offers are in relation to Title 11 bankruptcy relief. Keep in mind that in many cases filing bankruptcy will eventually improve a person's credit.
An experienced attorney will examine your situation to determine your options
The U.S. Bankruptcy Code offers two chapters which allow individuals to address their debt.
- Chapter 7 bankruptcy serves to discharge your credit cards, medical bills and other unsecured debts such as a deficiency left over after the foreclosure of a home through a liquidation of your assets.
- Chapter 13 bankruptcy may allow you to temporarily stop foreclosure in order to bring your loan current while continuing to make monthly payments. Additionally your attorney will develop a plan that allows you to keep your vehicle's and other secured assets by making payments pursuant to a 3-5 year plan.
Click headings to view more information.
Chapter 13 - An Overview
Chapter 13 is limited to consumers who are making regular income but who are unable to repay their debt. Chapter 13 allows such individuals to repay their debts in installments over a period of 3 to 5 years. A consumer may only file for Chapter 13 if their income does not exceed certain dollar amounts.
-
Calculate Future Income
Consumers who wish to pursue filing under Chapter 13 must calculate their future income from all sources including, commissions, wages, childd support, spousal support, social security, workers compensation, unemployment, disability benefits, retirement, and dividends.
-
Develop Repayment Plan
The consumer must determine the amount of income available to repay debts by subtracting normal living expenses from their projected income. The amount of the consumer's income remaining, after normal living expenses are subtracted, is the maximum amount available to repay debts pursuant to a three or five year plan. If the individual's income is insufficient to repay his debts in full over three to five years, the individual may be eligible for a partial payment plan, aka "best efforts" plan. Under the partial repayment plan, the consumer repays his debts up to the amount that his income will allow. Once the plan is completed, the remaining portion of his debts will be discharged. The benefit of a repayment plan is that it allows a consumer to make smaller more manageable payments, thereby preventing garnishments by certain prepetition creditors so long as the plan is followed.
-
Not all Debts are discharged under Chapter 13
Only those debts provided for under the plan will be discharged. If the debtor left any creditors out of the plan, those debts will remain after the plan is completed. There are other debts which will not be discharged under Chapter 13 and these may include education loans; spousal and child support; drunken driving fines and restitution; criminal fines and restitution; and certain long-term obligations, such as real estate mortgages. An attorney experienced in bankruptcy law can explain which debts are eliminated as a result of a Chapter 13 discharge and which will remain.
-
Result of a Salary Increase during payment plan
It is possible that a client's income will increase during the repayment period and a determination needs to be made of what to do with the additional income. An attorney will provide guidance on how to proceed so as to best protect your assets.
Chapter 7 - An Overview
If you have unmanageable debt, you may be qualified to file a Chapter 7 bankruptcy. The benefit of a chapter 7 bankruptcy is that is allows consumers to discharge their debt without making payments. In 2005 the United States Bankruptcy Code changed the filing requirements for individuals seeking to file for a chapter 7 bankruptcy.
-
Means Test
If your income for the last six months does NOT exceed a certain level based on your family size, you will not be required to take the Means test for eligibility. If your income exceeds a certain level and you are required to undergo means testing, your attorney will explain how to proceed.
-
Credit Counseling
Consumers filing under chapter 7 of the bankruptcy code must have attended and completed a debt counseling course within the six months preceding the filing date of their petition. In addition, you will be required to complete a financial education course prior to discharge of your debts.
-
Certain Nonexempt property converted to cash
In most cases, a debtor will have few, if any, nonexempt assets. Nonexempt assets are those assets which are not protected by the State exemption statutes (note that Colorado has opted out of the Federal Exemptions). If the client has nonexempt assets (unprotected assets) he/she must relinquish those assets to the bankruptcy trustee, who will then sell the property, and use the proceeds to pay the debtor's creditors. In return, the debtor receives a Chapter 7 discharge of certain eligible debts, pays the filing fee, completes financial management courses and obeys the court's directives.
- Colorado has very generous exemption statutes, and in most cases, a consumer will be allowed to keep all or most of his/her assets.
- Exemptions are protected allowances for the value in certain assets. For example, a homestead exemption protects the equity you have in your home, up to a certain value. It is not unusual for someone who is representing their own bankruptcy filing to lose significant assets because they were unaware of how to proceed under the bankruptcy code.
Additional information
Our Fees
Please call and ask to speak to a bankruptcy attorney regarding our competitive chapter 7 attorney's fees.
The Bankruptcy Court charges a filing fee of $299.00 for a Chapter 7 case, and $274.00 for a Chapter 13 case.
Automatic stay
In most cases the automatic stay will go into effect immediately upon filing your case with the bankruptcy court. The automatic stay prevents creditors from taking any act to collect on your debt. If you have filed for bankruptcy in the past, your attorney will explain the effect this may have on the duration of the automatic stay in your case.
Jurisdiction
Your case is filed in the District where you have resided or have your domicile (or for a business, its principal place of business) for the greater part of the 180 day period prior to the date your case is filed. All of the paperwork necessary to file your case will be filed electronically. Whether you live in Denver or a remote location such as Durango we can file your case from our office. This allows us to serve clients throughout Colorado at very low rates.
The information provided on this website is for informational purposes only and must not be taken for legal advise.
