Denver Bankruptcy FAQ

Debtors who know about Denver bankruptcy are confident, and confident debtors have successful and low-stress bankruptcies. We want you to recover from debt as quickly as possible and we don't want you to lose sleep over your financial troubles. The answers to these common questions will help you get started. A free consultation with one of our expert attorneys will help you finish.

Is Denver bankruptcy right for me?

Are you falling behind on your credit card or medical bills? Do you have mortgage or car payments you can't afford? Have you lost your job and can no longer carry your old debts?

If you face these or other financial struggles, Denver bankruptcy can give you relief. In our Free Bankruptcy Evaluation, you get advice from an experienced professional who helps you decide if Denver bankruptcy is right for you. Follow the "Free Evaluation" link on the left of this page and complete our short and simple form today.

Which chapter should I file under?

There are two chapters for personal bankruptcy, 7 and 13. Chapter 7 Denver bankruptcy is best for debtors who have little or no income, few assets, and can not pay their debts. Chapter 13 bankruptcy is best for debtors who have a reliable income and need help making their payments. Meet with an attorney to discuss the details of this important decision.

How long does Denver bankruptcy take?

That depends on the chapter you choose to file under. Chapter 7 Denver bankruptcy is completed in only a few months. Chapter 13 takes 3-5 years.

How much will it cost to file Denver bankruptcy?

Denver debtors often pay thousands of dollars for bankruptcy legal services. At Denver Bankruptcy Center, our attorney fee is $1,500 for complete Chapter 7 bankruptcy services (does not include state filing fee). The cost of Chapter 13 services varies depending on the complexity of your case. For a free estimate, fill out our Free Denver Bankruptcy Evaluation now.

What is the Denver bankruptcy process?

Debtors meet with an attorney in a free consultation to decide if Denver bankruptcy is the best option and, if so, which chapter. Once the decision is made, the attorney helps the debtor prepare the paperwork required for the bankruptcy petition.

The debtor attends a credit counseling course that is required by the court. This course is easily completed online, on the phone, or in person and takes only 20 minutes.

Once the petition is filed, the Denver bankruptcy court stops the creditors from collecting any money or assets from the debtor.

The debtor prepares a complete list assets with the help of the attorney. The debtor and attorney bring this list to a 341 meeting with a trustee who represents the interests of the creditors. The trustee takes non-exempt assets and sells them. The money is payed to the creditors. Our skilled attorneys protect their clients' property. Many of our clients don't lose any property in this process.

After the 341 meeting, the debtor attends a personal finance management course that is also completed online, on the phone or in person.

After this course is completed, the Denver bankruptcy court discharges the remaining debts listed in the petition. The debtor is free from those old debts.

Will I lose everything?

No you won't. Our attorneys are trained to protect your property. Many of our clients don't lose any of their property. In fact, if you choose to file under chapter 13, there is no threat to your property at all.

What is equity?

Equity is used to determine which assets are exempt and which are non-exempt. The court takes non-exempt assets away from debtors. Equity is equal to fair market value minus outstanding debt. For example, a debtor who owns a car worth $10,000 and owes $6,000 on it has $4,000 in equity on it.

Will my credit score ever recover?

Yes it will. Your Denver bankruptcy remains of your credit score for 10 years, but your credit score can improve much faster than that. Follow the key steps to building credit and your credit will be good in just a few years after bankruptcy. Ask your attorney for details.

Get a Free Consultation with a Denver Bankruptcy Attorney

Fill out a free evaluation form today to start resolving your problem with debt. Our attorneys have years of experience serving Denver area debtors. Get the benefit of our experience and let us help you find the solution that is right for you. Fill out a free evaluation today!

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