How to File for Bankruptcy in Colorado

Filing Bankruptcy in Denver

With all of the false information about bankruptcy, it is important to have a clear understanding of your rights, your options and the consequences of filing. You will also want to know about the process and procedures of bankruptcy, including how long it will take, what assets you can keep and how you can protect your immediate and long-term interests. Raphael M. Solot, Attorney at Law, offers experienced, strategic legal representation focused on helping individuals and families successfully achieve debt relief and get back on the road to financial security.

Ease your stress and get a fresh start. Take action today and claim the financial freedom you deserve. Call Ray Solot for a free consultation at 303-945-3611 or contact him by e-mail to discuss your bankruptcy options. Para informacion en Español 303-455-2525.

Chapter 7 and Chapter 13 Bankruptcy

Most consumers will file either Chapter 7 or Chapter 13 bankruptcy. Chapter 7 is applicable for clients who have significant unsecured debt, including credit card bills or medical expenses and a low income. Some people who file Chapter 7 do not own a home or other significant assets. Depending on your situation, you can still file Chapter 7 if you own a home and have other assets. Chapter 13 is also known as debt reorganization and allows consumers to negotiate with creditors, stop foreclosure and restructure their unmanageable debts with a repayment plan.

Chapter 13 Debt Reorganization

A Chapter 13 bankruptcy can only be used if you have regular income from one or more sources. It is usually filed on behalf of individuals who are behind on their mortgage, car or real estate taxes, or who have too many assets or income to qualify for a Chapter 7 bankruptcy.

How to file for bankruptcy in Colorado:

1) The client files for a Chapter 13 bankruptcy, which is accompanied by a proposed payment plan.

2) The bankruptcy trustee reviews the plan for accuracy and flexibility. The proposed plan is distributed to the creditors, who have the right to object if it is unreasonable.

3) The client enters into a payment plan, which can last three to five years.

In some cases, only a portion of what you owe creditors is actually paid back – you pay back what you can afford to pay back.

With any bankruptcy option, you can:

• Stop foreclosures
• Stop repossessions
• Stop creditor harassment
• Stop lawsuits
• Stop garnishments
• Wipe out old tax debt
• Wipe out payday loans
• Wipe out credit card debt

Is Bankruptcy Right for Me?

Bankruptcy is a solution for anyone with unmanageable debt. Often times, people go through a hardship, such as a divorce, personal injury or job loss that leaves them unable to confront their debts. If you are struggling with debt, do not hesitate to seek the legal representation and support that you need.

When you decide to file bankruptcy, you want legal representation to ensure that you protect your rights and that you do not give up any of your assets. Ray Solot is an experienced bankruptcy attorney who will take the time to inform you of your rights, your options and help you make the best decisions for your financial future.

For more information about debt relief and to speak directly with an experienced Denver, Colorado, bankruptcy lawyer, please call Ray Solot at 303-945-3611 or contact him using an e-mail form.

Free consultations · Over 35 years of experience · Saturday appointments available

Raphael M. Solot Attorney at Law
1660 S. Albion St., Suite 309
Denver, CO 80222
Phone: 303-945-3611
Toll Free: 866-668-2373
Para informacion en Español: 303-455-2525
Fax: 303-320-3730
Denver Law Office