Colorado Springs Bankruptcy Attorney
Are you facing overwhelming debt in Colorado? Record numbers of Coloradans are filing bankruptcy due to a combination of a struggling housing market, predatory lending, credit card debt, unemployment, and the high price of medical care. If you are drowning in these kinds of problems and need a fresh start, seek advice with an experienced bankruptcy attorney like Andrew McKenna.
The Law Office of Andrew McKenna works with individuals in Colorado Springs to determine their best course of action in regards to bankruptcy. Various types of bankruptcy allow a consumer or a business to reorganize or discharge their debt and then create a plan to get their finances back on track.
- Chapter 7: The most familiar type of consumer bankruptcy, Chapter 7 allows individuals to completely discharge their debt in order to gain a fresh start. Certain types of debt must still be repaid, however, including child support and student loans.
- Chapter 9: Municipalities are allowed to restructure their debt and re-write collective bargaining agreements.
- Chapter 11: Often known as reorganization bankruptcy, Chapter 11 allows business to restructure their debt while still continuing business operations.
- Chapter 12: Chapter 12 permits farmers and family fishermen to reorganize and repay their debt.
- Chapter 13: An alternative for consumers filing for bankruptcy, Chapter 13 lets the debtor propose a repayment plan for the next 3-5 years.
- Chapter 15: Foreign debtors are able to deal with international bankruptcy issues within U.S. Bankruptcy Courts.
Filing for Bankruptcy
Bankruptcy has become less stigmatized in Colorado because of the ubiquity of the problem of huge debt. Middle class families who are struggling to get ahead can use bankruptcy as a chance to get a clean slate. If you choose to file for bankruptcy, you don’t have to lose everything. Colorado exemption laws allow families to protect:
- Your home up to a certain figure
- A car valued at a certain price
- A limited amount of personal property
Legal Assistance in Colorado Springs
An experienced bankruptcy lawyer can help you move forward with filing for bankruptcy. As soon as your bankruptcy gets on record, all harassing call from creditors will stop, since the court prohibits them from all contact with you. Bankruptcy can assist you in:
- Halting foreclosure
- Stopping garnishment of wages
- Eliminating credit card debt
- Discharging medical bills
- Erasing bad mortgage debt
Without the threat of collection, you can rationally discuss the best course of action for you with your bankruptcy attorney. For trustworthy bankruptcy advice in Colorado Springs, contact the Law Office of Andrew McKenna. We are prepared to advise you and represent you through the entire bankruptcy process. With over 20 years of experience, Andrew McKenna is more than able to handle your struggles with debt.
Free Colorado Springs consultations are available at 719-201-4527.