Fort Collins Bankruptcy Attorney
Effective Debt Relief Solutions
Deciding whether to declare bankruptcy is an extremely emotional and stressful decision. First of all, if you are facing a financial crisis, you should not panic. Many Americans struggling with debt put off taking action for months and even years before reaching out for help. Bankruptcy is supposed to allow for a fresh start – and waiting only depletes your assets and makes it harder to start anew post-bankruptcy.
If you are facing bankruptcy, you will need the help of a professional to guide you through the process. As a Fort Collins bankruptcy attorney with over a decade of experience practicing in this area of the law, I can help you complete the process as efficiently as possible. I can inform you of rights, lay out all your available options, and explain how each option will affect you.
Contact my firm, Levi A. Brooks, Attorney at Law, at (970) 293-8371 today for a free initial consultation.
Evaluate Your Options
Even if you are on the verge of bankruptcy, there still may be alternatives available depending on the types of debt you have and your specific circumstances. Here are some options that you may want to consider with the help of your bankruptcy lawyer.
Refinance
You may be able to negotiate with your individual creditors to get a lower interest rate or more affordable monthly payments. Many creditors will want to cooperate because they want guaranteed payments, even if it means getting less than what they are owed. Negotiating a payment plan or lower rate may be in the best interest of both parties.
Debt Consolidation
If you have multiple high-interest loans, you may be able to combine your multiple debts into a single loan with one interest rate.
Should I File for Chapter 7 or Chapter 13?
After you have decided that declaring bankruptcy is the right decision for you, the next step is determining with your Fort Collins bankruptcy attorney which type of bankruptcy to file. Each type has its own laws, restrictions, and penalties. There are two main options for personal bankruptcy in Colorado: Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is what most people think of as traditional bankruptcy and is frequently referred to as “liquidation bankruptcy.” Chapter 7 bankruptcy will discharge most of your unsecured debt, which includes personal loans and credit cards. Additionally, you can protect the equity in your property up to certain limits. Over those limits, the court may require some of your property to be liquidated for the benefit of your creditors.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is often referred to as “reorganization bankruptcy.” This type of bankruptcy sets you up on a repayment plan to pay creditors back over a period of three to five years. To be eligible for Chapter 13 bankruptcy, you need to have regular income. No property is required to be liquidated when you file Chapter 13 bankruptcy.
Can You File Bankruptcy on Medical Bills in Colorado?
No, you cannot file bankruptcy just to alleviate yourself from medical debt. All debt must be taken into account to properly file. While filing for bankruptcy can still help rid yourself of any medical expenses, you will need to include any other debts such as credit cards or school loans.
Choose Attorney Levi A. Brooks as Your Fort Collins Bankruptcy Lawyer
Bankruptcy can be a lengthy and challenging process. It can be life-changing to have the right attorney by your side. I treat every client with dignity and will work with you to determine your best options.
Call me at (970) 293-8371 today to get started.
Former Clients Share Their Stories
The Benefits of a Results-Focused Approach-
Former Client
Very professional and very knowledgeable attorney.
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Jorge
I highly recommend him.
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Cheryl
Absolutely Worth Hiring
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Crystal
Helped Keep My Kids Safe
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Kimber
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Sherrie
Deserves More Than 5 Stars!
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Maddie
Solved my problem with one call!
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Ric
Superb Attorney
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Travis
Went Over The Top
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Professional and Knowledgeable
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Former Client
Good Guy
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Levi
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Former Client
Great choice for family cases and bankruptcy law
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Scott
A lawyer’s lawyer
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Lonnie
Excellent Family Law Attorney
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Rob
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