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Start Fresh – Free Bankruptcy Consultation and Eligibility Review



When you visit my office for the first time, I will discuss which type of bankruptcy offers the best protection of your assets while discharging all of your eligible debts. In most cases, I will discuss the benefits of filing under chapter 7 bankruptcy. If you do not qualify for a chapter 7 or a chapter 13 is more appropriate I will discuss a chapter 13 bankruptcy filing instead. Most individuals file under chapter 7 bankruptcy because it is the most affordable and offers immediate relief.

 

When you elect to retain my firm to represent your bankruptcy petition, you will be provided:

 

* Easy-to-follow instructions explaining how to gather and submit the documents and information I will need to complete your bankruptcy petition.

 

* As your attorney I will be available to answer any questions you may have throughout the entire process.

 

* There will be no long questionnaires to complete. Everything is handled during the bankruptcy interviews at my office.

 

 

For debtors filing through this office I request the following information:

 

1. Last two years of tax returns – 2015 and 2016 State and Federal.

 

2. Last 6 months of paycheck stubs.

 

If you are married but filing as an individual, you must also turn-over copies of your spouse’s pay check stubs even though your spouse is not filing. A debtor’s eligibility to file for bankruptcy is determined from the household income. An attorney can explain the income requirements which apply to your location and household size.

 

3. Copies of all correspondence related to your debts including: collection letters, summons and complaints, and writs of garnishment. For pay day loans, we need a copy of the loan agreement.

 

4. All debtor’s must complete credit counseling online www.accessbk.org.

 

5. If applicable, a copy of your most recent mortgage and/or auto loan statement.

 

6. If applicable, copies of your retirement account statements. For the most part, all retirement accounts are exempt (protected from turn-over). However, if the debtor recently used non-exempt property (e.g. cash) to fund a retirement account such as an IRA, your attorney can explain how to proceed.

 

7. If anyone is contributing money to your household expenses, my office needs documentation substantiating the payments.

 

8. If you are leasing a property you own to someone else, I need an accounting of all rental payments received and all expenses incurred related to the rental property.

 

9. In some cases, additional information may be required. This is especially true of self-employed clients who at a minimum must provide Profit and Loss statements for each of the previous 12 months.

 

10. Signed copy of the chapter 7 bankruptcy fee agreement.

 

11. We will use the documents and online questionnaire to prepare your petition, schedules and other related bankruptcy documents for filing for chapter 7 bankruptcy with the bankruptcy court.

 

You must review and sign the documents before filing. Attorneys are prohibited from collection any of their attorney fees after the case is filed.

 

If you are a consumer who is overburdened with debt, you may want to consider filing for personal bankruptcy. A Bankruptcy lawyer will process the bankruptcy petition (which is at least 45 pages long), calculations, and schedules for you, and take the necessary precautions to ensure all of your creditors receive notice of your bankruptcy petition. Don’t take the chance that one or more of your debts will not be discharged by hiring a petition preparer or by going it alone. An attorney will ensure that you are provided the quality legal advice and representation you need to get a fresh start.

 

I charge a reasonable fixed legal fee to represent and prepare my client’s chapter 7 and chapter 13 bankruptcy petitions. The base fee includes full representation through the order of discharge. In most cases, the first meeting of creditors is the only court appearance a client will make before receiving their bankruptcy debt discharge. 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 for 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 viable way for certain individuals, especially those who have stopped paying their creditors, to eventually rebuild their credit and get a fresh start. A bankruptcy can legally 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 bankruptcy debt discharge.

 

The primary reason people file for 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 will a temporary 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.

 


Bankruptcy Information for Colorado Residents

 

This firm is a debt relief agency. I 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.

 

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 vehicles and other secured assets by making payments pursuant to a 3-5 year plan.

 


Chapter 13 Bankruptcy – An Overview

Chapter 13 is limited to consumers who are making regular income but who are unable to repay their debt. Chapter 13 bankruptcy 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 debts do 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, child 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 bankruptcy

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 bankruptcy 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.

 

See our Chapter 13 Bankruptcy FAQs here for more information.

 


Chapter 7 Bankruptcy – 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.

 

See our Chapter 7 Bankruptcy FAQs here for more information.


 

Additional Bankruptcy Information

 

Paying for Bankruptcy Fees

If you know that filing bankruptcy is inevitable and you have consulted with an attorney regarding your eligibility to file, it is advisable that you pay your attorney’s fees with money that might otherwise have gone to pay unsecured creditors (credit cars, medical, etc). It is better to pay for legal representation rather than continue to pay an unsecured debt that is going to be discharged in a chapter 7 bankruptcy or re-structured in a chapter 13.

 

Filing bankruptcy is a serious matter, we suggest you contact an attorney you feel comfortable working with rather than go it alone. The majority of pro se bankruptcy petitions are dismissed for failure to follow the rules and there are implications associated with repeat filing.

 

The Bankruptcy Court charges a filing fee of $335.00 for a Chapter 7 case, and $305.00 for a Chapter 13 bankruptcy case. There is a small additional fee for mandatory pre and post credit counseling.

 

Automatic stay

In most cases the automatic stay will go into effect immediately upon filing your case with the bankruptcy court unless you had a previous bankruptcy filing in the last 6 months. 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 reasonable rates.

 

The information provided on this website is for informational purposes only and must not be taken for legal advise.


Filing for bankruptcy is different for everyone. Contact Consumer Law Pro today at (303) 297-7729 to set up your free initial consultation, and get your questions about bankruptcy answered within the context of your unique situation.

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