Bankruptcy

Practicing Law in Colorado since 1983
Specializing in Bankruptcy Law
Chapter 7 Trustee for 6 years
Set Fees
Payment Terms Available
Individualized Personal Attention

How do we start? What is the process of filing a bankruptcy? 

1) I need information from you. I have a questionnaire in my waiting room. You can come by anytime to pick it up. It also might be a good idea to run a credit report on yourself. You should contact the three reporting agencies. Equifax 1-800-216-1035 - Experian 1-888-397-3742 - Trans Union 1-800-645-1933. 

2) I will meet with you and prepare the forms on my computer. I will need your signatures. We will discuss the process and implications to you personally. 

3) I will make a stack of copies and file the forms personally with the court in Denver.   This is the date that all collection efforts are to stop. This is the effective date of the bankruptcy. 

4) About one month later we will meet together in front of a Trustee at a creditors meeting. (I was a Trustee for 6 years.) The meeting will most likely take place in Denver and the Trustee will swear you in and ask you a few questions about your situation. I will go over this with you prior to the meeting. Creditors are asked to attend if they wish. Very few creditors attend. The meeting takes a scheduled 5 minutes for your case. 

5) Two months later you receive a Discharge of Debt. Keep this document and all copies in the folder that I give you for at least 10 years.

What is the Difference between Chapter 7 and Chapter 13 Bankruptcy? 

When you file Chapter 7, you can keep all your assets and you become free from your debts, with regards to specific exemptions. 

When you file Chapter 13, you work out a budget and pay monthly what you can to theTrustee. It usually lasts for 3 years and the Trustee will distribute your payments to your creditors equally. 

 What bills will I still have to pay after filing Bankruptcy? 

You will have to pay your recent taxes, student loans, and all secured debts on property you want to keep. There are a few other exceptions, such as child support and debts based on fraud. 

Will I lose my house and car? 

No. If you do want to keep the car or house, just keep the payments current. 

If you do not want to keep it and you owe on your house or car, you may return it to the lender and you will no longer be required to make any more payments. 

Who can file for Bankruptcy? 

If you either owe more money than all of your property is worth, or if you cannot pay your bills when they come due, you qualify to file for bankruptcy. 

If nothing else works, Bankruptcy can give you a fresh start. It will appear as a dark mark on your credit, but it will release debt. With a reduction of payments, you will be able to work more easily on a cash basis or even start to save money.