Why Bankruptcy?

Whether you’re considering a Chapter 7 liquidation or a longer-term Chapter 13 repayment plan, it’s important to understand how each option works and what it means for your future. Chapter 7 is typically a simpler, faster option for people with limited assets, while Chapter 13 is often better suited for those with regular income who want to protect significant property.

You’ll be subject to specific procedures, deadlines, and review by the bankruptcy court. Our firm guides you through each step, explains the pros and cons, and helps you position your case for the strongest possible outcome. Our goal is client education so you can make informed decisions for yourself and your family and understand how to rebuild your financial life after your case is complete.

You may come to us because you’re dealing with constant creditor harassment, wage garnishment, and other consequences of unmanageable debt. Bankruptcy’s automatic stay can often stop these actions immediately once your case is filed. We want you to be able to eliminate insurmountable debt legally while keeping your home, your car, and other essential belongings whenever the law allows. We believe these goals may be achievable through careful planning, clear communication, and experienced legal guidance from our bankruptcy lawyers.

What Happens When You File for Bankruptcy?

When you file for bankruptcy, federal law gives you tools to manage or erase certain debts. Depending on the chapter you file under, you may repay a portion of your debts over time or have many of them discharged, meaning you’re no longer legally responsible for paying them back.

One of the most immediate protections is the “automatic stay.” As soon as your case is filed, most collection efforts must stop. Lawsuits, wage garnishments, and foreclosure actions are generally paused, and creditors have to route their communications through the bankruptcy process instead of contacting you directly.

If you’re eligible and decide to file for Chapter 7 bankruptcy (sometimes called “liquidation bankruptcy”), a court-appointed trustee will be assigned to your case. The trustee’s job is to review your finances and, if necessary, sell non-exempt assets to pay creditors. Colorado bankruptcy exemptions are designed to protect certain essential property, including equity in your home, vehicle, and other basics you need to live and work. Our Centennial bankruptcy attorney can help you understand how these exemptions apply to your situation.

If you qualify for Chapter 13 and file under that chapter, your debts are restructured into a court-approved repayment plan lasting three to five years. The plan outlines how much you’ll pay each month toward your debts, based on your income and reasonable living expenses. Once the court approves the plan, you make your payments as scheduled; remaining eligible debts are typically discharged at the end of the plan. This type of bankruptcy can be a strong option for those with steady income who want to catch up on missed mortgage payments or protect valuable assets.

Centennial filers submit their cases to the U.S. Bankruptcy Court for the District of Colorado. The 341 meeting of creditors is currently conducted virtually via Zoom, so you can usually attend from home without taking time off work. Before filing, Colorado debtors must also complete an approved credit counseling course. Our bankruptcy lawyers can walk you through these requirements so you know what to expect at every stage, from the initial credit counseling requirement through the 341 meeting and final discharge.

Why Choose Wagner Law Office, P.C.?

When you’re looking for a bankruptcy attorney in Centennial, the difference often comes down to focus and access. At Wagner Law Office, P.C., our entire practice is devoted to bankruptcy, Chapter 7, Chapter 13, wage garnishment relief, and student loans. You won’t be passed off to a paralegal or a junior associate. Attorney Todd Wagner gets to know each client and the details of their case personally, and he’s been doing this work in Centennial and Colorado Springs since 2007.

Focused Practice:
We handle bankruptcy and nothing else. That means our bankruptcy lawyers bring deeper familiarity with Chapter 7 and Chapter 13 procedures.

Direct Attorney Access:
You work directly with Attorney Todd Wagner throughout your case. He’ll review your situation, explain the law in plain language, walk you through the means test if needed, and represent your interests at every step.

Flexible Scheduling:
We offer early morning and late evening appointments so you can meet with us without missing work or important family obligations.

Free Consultations & Payment Plans:
Your first consultation is free, and we’ll give you an honest assessment of whether bankruptcy is the right path or if another form of debt relief might make more sense. Payment plans are available to make representation accessible to clients already under financial strain, and we’ll go over options to stop wage garnishments and creditor pressure.

Contact Our Centennial Bankruptcy Attorney

If you’re considering bankruptcy in Centennial, Wagner Law Office, P.C. is here to help you navigate the process with clarity and confidence. Schedule a confidential consultation with our experienced Centennial bankruptcy lawyer to discuss your debts, income, and goals, explore your Chapter 7 and Chapter 13 options, and determine an appropriate course of action for a fresh financial start. We’re ready to be your dedicated advocates as you pursue financial relief.

If you’re struggling with debt, our bankruptcy lawyer in Centennial at Wagner Law Office, P.C. can help determine your best options for improving your financial situation. Contact us for a free initial consultation as soon as possible.