Chapter 13

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Chapter 13 Bankruptcy Attorney In Colorado

What Is A Chapter 13 Bankruptcy?

If you've fallen behind on your house or car payments, a Chapter 13 bankruptcy can stop foreclosure on your home, help you keep your car, and possibly even lower your payments on your car. In some cases, you might even qualify for a plan in which you only need to pay a percentage of your debt but still retain ownership of all your assets, including your home and car. Even if you owe for past parking tickets and have lost your driver’s license as a result, a Chapter 13 proceeding can qualify you to have your license reinstated. But to take advantage of all the benefits of a Chapter 13 bankruptcy, you need an experienced bankruptcy lawyer on your side. Our expert bankruptcy attorneys have a solid record of success in handling Chapter 13 proceedings for our clients – and we can help you, too, pursue a positive outcome. To learn how we can serve you, make an appointment with one of our attorneys today.

Contact Law Offices of Andrew F. McKenna, P.C. to schedule a consultation with a lawyer today. 303-730-8819

A Chapter 13 bankruptcy is an alternative to the complete removal of debts that occurs in Chapter 7 bankruptcy. When you file for a Chapter 13 bankruptcy, the court will require you to propose a payment plan that takes into consideration your disposable income. In this case, your debts will be reorganized rather than erased. The advantages of Chapter 13 bankruptcy include:


  • The prevention of foreclosure on your house
  • A new plan for paying off back taxes
  • The protection of valuable non-exempt property
  • The reduction of car and mortgage payments
  • A halt on the buildup of interest on your tax debt


The payment proposal is usually confined to 3-5 years, and if you follow that plan, your debt will be erased at the end of that time.


Qualifications for Chapter 13

If you wish to file a Chapter 13 bankruptcy, you must meet several qualifications. The court will consider factors such as:


  • The amount your creditors will receive through your payment plan as opposed to the amount they would receive if you filed under Chapter 7
  • The issue of whether or not you have a regular income that provides you with enough disposal income to reasonably make your new monthly payments


Many residents of Colorado choose Chapter 13 bankruptcy because it gives them the option of keeping more of their valuable assets that would not be exempt in a Chapter 7 bankruptcy case.

Chapter 7 or Chapter 13?

The best way to determine which type of bankruptcy will most benefit you is to discuss your situation with a proficient bankruptcy attorney. If you live in Colorado, you have access to the highly experienced team of bankruptcy attorneys at the Law Offices of Andrew F. McKenna, P.C.. With over 29 years of experience, Andrew F. McKenna is more than prepared to help you achieve the best possible outcome in your personal situation.

What Happens During a Chapter 13 Proceeding?

First, you’ll need to prove your eligibility through the means test we mentioned earlier. If you’re eligible, filing for a Chapter 13 bankruptcy will stop any foreclosures, wage garnishments, repossessions, lawsuits, or other harassment by your creditors. While we’ll help you create a repayment plan, the court must approve your plan. The court will determine whether you have proposed this plan in good faith, that the amount your unsecured creditors will receive is not less than you would have paid with a Chapter 7 filing. Also, your payments must maximize all your disposable income – which means all your income that does not go toward your support and maintenance. It’s a complex process, but with an experienced bankruptcy lawyer by your side, you can have the confidence that you will come out of the process with success. Don’t wait any longer to resolve your debt problems. Call the Law Offices of Andrew F. McKenna, P.C. today for your free consultation.

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Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.

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