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Most of us try to manage our finances by staying on top of our bills on a regular basis. However, events can occur to even the most financially prudent people that leave them drowning in debt and unable to make ends meet. This unfortunate situation can occur for various reasons, from a job loss to an extended illness, sudden injury, an expensive divorce, or a pandemic like 2020’s COVID-19 crisis. You may have had your work hours reduced, may have lost your small business, or otherwise faced a financial setback from which you feel you can never recover.
Fortunately, the government has provided a legitimate financial solution for the honest debtor in this type of situation. That solution is bankruptcy. While bankruptcy is a tough prospect to face with both advantages and disadvantages, it can often be the right option for a serious situation. At Wagner Law Office, P.C., our Centennial bankruptcy attorneys want you to be able to eliminate debt legitimately through the process so that you can put your finances back on track with a fresh start. That is why we devote our entire practice to bankruptcy solutions, maximizing your benefits while minimizing any damages. If your goal is to erase your consumer debt so that you can move forward into a better future, we urge you to take advantage of our decade of successful experience and dedication to excellent service.
Want to discuss your bankruptcy options? Stop Garnishments and Foreclosures.
Contact Wagner Law Office, P.C. at (303) 536-5124 to schedule a free phone consultation with an attorney today.
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Whether you are seeking the simplest form of bankruptcy, which is a Chapter 7 liquidation, or the lengthier Chapter 13 solution for those with significant assets that they wish to protect, it is important that you understand the process. It is also vital that you are advised of the pros and cons and how to ensure that your case will have the best chance for success. You will be subject to various procedures and inspection by the bankruptcy court. Our firm can guide you through the process, ensure that your case is handled professionally, and help you understand how to rebuild your life after the bankruptcy process is completed.
You may come to us needing help with creditor harassment, wage garnishment, foreclosure warnings, and other indicators and consequences of debt overload. Our goal is to assist you in understanding your options so that you can make the best decisions for yourself and your family. To that end, we believe in providing client service that is knowledgeable, friendly, and that exceeds your expectations while remaining competent at this crucial juncture in your life. We want you to be able to eliminate insurmountable debt legally, to be able to keep your home, your car, and other belongings as well as to be able to sleep at night and enjoy life with a renewed sense of control and possibility. We believe such goals can be attained through proper legal guidance and representation.
What Happens When You File for Bankruptcy?
Depending on the type of bankruptcy you file for, you will be given the opportunity to pay a portion of your debts over time or have some of them discharged or eliminated entirely, meaning that you are no longer responsible for paying them back.
One thing for certain is that when you file for bankruptcy, an “automatic stay” is triggered. This means that creditors or collectors are notified to stop all attempts from collecting on your debts. No money may be deducted from your banking accounts nor may wages be garnished. Depending on when you file for bankruptcy, it may also delay the repossession of your property or a foreclosure process.
If you are eligible and decide to file for Chapter 7 bankruptcy (also known as “liquidation bankruptcy”), a court-appointed trustee will be appointed to your case. They will sell your assets and distribute the net proceeds to your creditors to pay off your debts. Not to worry, not all of your assets will be sold -- there are exemptions. To learn more about it, explore our site further or reach out to our Centennial bankruptcy attorney.
If you qualify for Chapter 13 and file this bankruptcy, your debts will be restructured and a 3 to 5-year repayment plan will be created to pray some or all of your creditors. The bankruptcy court must approve the repayment plan in order for it to be active. After approval, you simply need to follow the repayment plan and repay your debts until it is discharged. This type of bankruptcy is a good option for those who are earning a regular income.
If you are struggling against debt, our bankruptcy lawyer in Centennial at Wagner Law Office, P.C. can help determine what your best options are to help your financial situation. Contact us for a free initial consultation as soon as possible.
When you schedule a consultation with our Centennial bankruptcy attorney serving the greater Denver area, you will have the opportunity to discuss the details of your case, ask any questions you have, and get a better understanding of the options available to you and how they work. You can expect an honest assessment from us whether we believe bankruptcy is right for you or not. Our priority is to help you move forward with whatever plan is best for your financial future.
We’re available at (303) 536-5124. Call us to book your free, initial consultation to discuss your potential bankruptcy case today.