Denver Chapter 13
Unlike a Chapter 7 in Denver, which involves a liquidation of all assets, Chapter 13 bankruptcy allows you to repay some or all of your debts. The process involves a restructuring of debts. Under this system you are able to repay creditors with any future income. This form of bankruptcy is best suited for individuals who have a regular income. Contact The Law Offices of Charles E. Longtine, PC to receive trustworthy legal advice on how to live a debt-free life. Following are some advantages of Chapter 13 bankruptcy in Denver:
- Creditors are required by law to stop contacting the debtor.
- If you are facing a foreclosure, Chapter 13 allows you to stop any legal action.
- Chapter 13 allows you to repay any secured debts over a period of time.
- With Chapter 13 bankruptcy, third parties are protected from creditors. The creditors must speak to the court-appointed trustee.
Chapter 13 bankruptcy in Denver
People choose Chapter 13 over Chapter 7 bankruptcy for many reasons. Chapter 13 allows you to reorganize your debts, making them more manageable so you can ultimately pay them off. Additionally, you may choose Chapter 13 for the following reasons:
- You would sincerely like to pay off your debts and require the aid of the bankruptcy court to do so.
- If you are behind on a car loan or mortgage, you would choose Chapter 13 bankruptcy in Denver to repay any missed payments. This option is not available in Chapter 7.
- You want help repaying your current debts, but may still need to file for Chapter 7.
- You have a substantial amount of nonexempt property. When you file for Chapter 7, all assets are liquidated except for exempt property. Filing for Chapter 13 will protect your nonexempt property.
Regardless of why you're filing for Chapter 13 bankruptcy in Denver, it is in your best interests to hire an experienced and reliable attorney.
Contact The Law Offices of Charles E. Longtine, PC today
There is no need to wait until creditors are garnishing your wages or threatening to foreclose on your home. The sooner you contact us, the more help we can provide. For Colorado residents seeking debt relief, the first step in resolving your financial problems is to contact The Law Offices of Charles E. Longtine, PC today.
