In Denver you have a lot of options if ever you are faced with bankruptcy and there are also steps you can take before declaring bankruptcy.
There are different debt management options that can help establish a debt repayment plan…but sometimes you just want to clear everything up by discharging your debts.
In that case you would hire a Denver Bankruptcy attorney and then prepare to go to court.
There are different types of bankruptcies and your attorney will help you decide which one is best…because if you end up declaring a Chapter 13 bankruptcy and fail to keep up to date with your payments then you really didn’t accomplish anything…Chapter 7 is another type that people use because it takes all…or most (no student loan can be discharged) of your debts and you walk away from them.
It will stay on your record for several years and your credit report will reflect it so you should make sure you know what you want and need.
If you do locate an attorney make absolutely sure it is a Denver bankruptcy attorney and not just any old lawyer…sometimes attorneys specialize and sometimes they try to be all things to all people. You don’t want a general purpose attorney that isn’t experienced in bankruptcy…Seriously…how many times in life do you need a lawyer…isn’t it better to be selective and have confidence it will be done right?
If you have a Chapter 13 you will be assigned a trustee who is sort of like a creditor in the sense that you make a monthly payment to them. They are not people that you become friends with or negotiate with…it is just a trustee working on behalf of the court.
You can keep your house and other assets by using this method…Chapter 7 is the opposite because you end up liquidating your assets and lose everything…
Denver bankruptcy attorneys are in almost every part of town and what they have in common is that they want you as a client and will try to give you a discount or free consultation…whatever it takes to secure your business.
Use a lawyer to ensure you are doing things properly…I have never met someone that has filed their own paperwork…I’m sure there are people that do that…but I suspect the details are something to be very careful with.
For example….have you truly determined who all your creditors are and how much you owe?
Have you located all your account numbers and what your monthly payments are?
Having clarity on the details can spare you a headache later on…Individual bankruptcies are Chapter 7 and Chapter 13…but what if you have a business?
Then you want Chapter 11…and depending on the nature of your business there might be other options to pursue.
In Denver you should do your homework and find out if you know anyone that has experience but because of the emotional nature of this topic people may not want to discuss it.
Don’t be ashamed if you need one…it is a financial issue and not a moral one.