Bankruptcy FAQ in Denver

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Bankruptcy FAQ Answered

Here are some of the most common Bankruptcy Questions we deal with in our Denver office.

Chapter 7 bankruptcy is what you would commonly think of if you heard someone went “belly up.” If successful, all old dischargeable debt will go away. Chapter 11 is a restructuring for companies and Chapter 13 bankruptcy is for individuals to get a hold of their finances once again. Chapter 13 bankruptcy is where the old obligations are restructured.

Are You Just Collecting for the Credit Card Companies?

NO. We are not a debt renegotiation only firm, we look at all of your options, debt renotiation being one of several legitimate options and provide counsel as to what would best serve you, our customer. We are not retained by credit card companies like some others, so we do not get kickbacks from them based on what you can or cannot pay to them, leaving you exposed…

How Long Does a Bankruptcy Filing Take?

This will vary great contingent upon how well you follow our specific instructions. It can be done in a month or two or drag out a whole year. A lot of this depends on if you get us what we need when we need it!

Will Filing for Bankruptcy in Denver Wipe Out My Student Loans?

Basically the answer is “No” unless you can provide proof that fulfilling the loans are making your expenses impossible to manage. In general, student loans would be classified “non-dischargeable debt.”

Who Will Find Out I Filed for Bankruptcy?

Generally, no ne except you and your creditors. However, if you have a needy or codependant girlfriend who likes to surf the web and see what she can find out about you from google, you may find that this indeed comes up again in her search…

Can I Keep My Car After a Bankruptcy in Denver?

The short answer here is that it depends. It depends on your type of filing, you income and the value of your car. You likely can if you are upside down in your car, but if you are, you probably wouldn’t want to.

Will I Lose Personal Items such as Family Heirlooms or Yearbooks?

The short answer again is it depends. First, is it a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy? If it is a Chapter 13, not at all. If it is a Chapter 7, then it would depend upon the assessed value of the item. If the court sees no financial value (family pictures, for instance) you would retain these photos… If there is great value, like you are family with Michael Jackson, then they could be sold at an auction to pay off your creditors.

What Happens to All of the Assets that are Sold?

If you have filed for Bankruptcy in Denver, and the court has ordered that your goods be sold, the court would establish who needs to get paid first based on complex bankruptcy laws in Colorado.

How Much Does it Cost for a Bankruptcy Attorney in Denver?

Each case comes with its own set of complications, so to give a fixed amount on this site wouldn’t make sense. However, we offer a free initial consultation where we can determine the scope of your problem and give you a pricing scheme before you acquire any legal bills. Our goal is to get you unburied, not buried here.

With How Far I am Behind on My Bills, Why Use a Bankruptcy Lawyer in Denver at All?

There are several reasons. The first and most important reason is because we understand Colorado Bankruptcy Law and procedure. We make sure there aren’t any open holes for you to fall into later.
Another reason is that we are much more efficient with the work and paperwork. What we do in 5 hours will likely take you 50 or more.
The creditors will have lawyers on their side swarming for any little crumb of asset you may have remaining. We work hard to protect as much as possible for you!
Can you do all the paperwork, of course you can. If you are interested in this tedious process, here is a post on what forms are necessary which should help tremendously! Otherwise, calling us will leverage the most of your times and your limited resources.