Facing bankruptcy can be intimidating, but it is something that you do not have to face alone. I know that it can be a hard time for you and your family, and sometimes can lead to a divorce. I primarily represent consumer debtors in Chapter 7 and Chapter 13 Bankruptcy cases. Over the past fifteen years, I have helped hundreds of people all across Colorado.

In a bankruptcy petition filed under Chapter 7, a debtor is seeking to obtain a discharge of outstanding debt. The discharge is a court order which absolves the debtor from having to pay debt classified by the bankruptcy law as "dischargeable." The discharge serves as a permanent injunction against otherwise potential collection action for debt incurred prior to the bankruptcy. In essence, a Chapter 7 bankruptcy discharge allows a debtor to proceed forward without financial turmoil, thereby providing the debtor with an opportunity for a fresh start. 

 

The availability of a Chapter 7 proceeding has become limited by the Bankruptcy Reform Act of 2005.  A detailed analysis of the requirements is beyond the scope of this informational page.  The new Act funnels more debtors into Chapter 13 proceedings as set forth below.

Most debts are dischargeable, such as credit card balances, bank loans, court judgments and medical bills. Debt categorized by the bankruptcy law as "non-dischargeable" includes certain types of tax debt, most student loans, government fines, restitution for outstanding child and spousal support, and debts incurred from criminal or fraudulent conduct.

A Chapter 7 bankruptcy filing technically results in the liquidation of a debtor's assets designated as "nonexempt" by the bankruptcy law. Upon the filing of a Chapter 7 petition, a United States Bankruptcy Court Trustee is assigned to evaluate and sell a debtor's nonexempt assets. The proceeds of any such sale are used to pay off creditors. A Chapter 7 bankruptcy debtor is able to retain all property categorized as "exempt."

Chapter 13 of the U.S. Bankruptcy Code provides a debtor with an opportunity to pay off its debts through a court approved payment plan. The Chapter 13 procedure allows a debtor to repay some or all of its debts over a period of three to five years. Typically, the Chapter 13 debtor possesses the ability to repay some or all of their debt but requires time to do so. The benefit received from Filing a Chapter 13 bankruptcy petition is that a debtor can keep all of his property, including those valuable assets, which are not exempt.

A common scenario in which a debtor will utilize the Chapter 13 option is when the debtor is behind on its mortgage payments. Chapter 13 bankruptcy will stop a foreclosure proceeding and give the debtor the right to pay back the past due payments over a period of up to sixty (60) months. As part of the payment plan, a debtor is required to pay back a percentage (or all) of the unsecured debt.

Upon the completion of the plan, the debtor will receive a discharge of debts and will be able to keep their property.

 

The new law provides for debtor counseling in advance of filing, and it requires the attorney and the debtor to engage in a detailed analysis of the debtor's financial situation before deciding on whether bankruptcy relief is appropriate, and if so, what chapter to elect.

Because Bankruptcy isn't required for everyone, I provide an initial consultation that takes about an hour. I explain how the Chapter 7 and Chapter 13 Bankruptcy laws apply to you. I also look to see if you have other options, such as consolidation of your loans through a bank. In other cases, a credit counseling agency may be able to help you. Filing for Bankruptcy isn't the end, it is a new beginning.

Unfortunately, most people do not contact me early enough to avoid having to file for Bankruptcy. If that is your situation, I understand that you may not be able to pay my fees up front and I will work with you -- monthly payments can be arranged in most cases. If you need to file a Chapter 13 Bankruptcy petition, I can even place some of the fee in the plan. 

Please don't wait to contact me. If you are becoming overwhelmed with your debts, or if creditors are harassing you, you deserve the representation of an experienced Bankruptcy attorney. The best way to contact me is by email but you may also reach me by telephone at 303-699-7688. Call for your initial appointment today.

In order to take full advantage of your initial consultation, you will need to print and complete as much of the information requested in the Bankruptcy Questionnaire as possible. This information is required for the preparation of your Bankruptcy documents. It is also VERY IMPORTANT that you read the Bankruptcy Questionnaire Instructions prior to completing the questionnaire so that you know exactly what information is required and why. 

 

Current clients who have already attended an initial consultation and completed a retainer agreement may use a secure online questionnaire located at www.stopmybills.com to submit the required information to this office.  Please call me at 303-699-7688 for a password to enter the site.

We are a debt relief agency.  We help people file for bankruptcy relief under the Bankcruptcy Code. 

This website is designed for general information only. The information presented in this site should not be construed to be formal legal advice or the formation of an attorney ⁄ client relationship. Persons accessing this site are encouraged to seek independent legal advice and counsel regarding their specific individual legal issues.