Despite being a federal law that allows people to get out of debt without any tax consequences, bankruptcy may not be for everyone. It depends on your circumstances. You may find that it is an ideal way to get out of debt. Thanks to years of experience helping people across Colorado with bankruptcy law, our Broomfield bankruptcy lawyers can expertly determine whether bankruptcy makes sense for you and answer all your questions.
There are three different types of bankruptcy a person can file: Chapter 7, 11, and 13. All of these have different rules and qualifications. Your assets are an important consideration along with other factors in order to successfully file bankruptcy.
Chapter 7 bankruptcy tends to be the most common method because it eliminates most of your debt in 90 days, which means you don’t pay back anything. However, not everyone can file Chapter 7 and others may find Chapter 13 bankruptcy is more suited to their needs. Chapter 13 works well for home foreclosures, car repossessions, taxes, and unprotected assets. Chapter 13 creates an affordable repayment plan without worrying about losing assets, such as your house or car.
Bankruptcy may not be for everyone and that is okay, our Broomfield debt help attorneys will work with you to find the best option. There are several ways debt can be resolved, and we work with all our clients to find the best option for you – even if bankruptcy is not the solution.
Our Broomfield bankruptcy lawyers will review your debt, your situation, your options, and provide insight and recommendations on whether it makes sense to consider bankruptcy. Our attorneys serve Broomfield, Denver, Arvada, Aurora, Centennial, Lakewood, Thornton, Westminster, and more locations across Colorado.