Colorado Bankruptcy Basics: Honest Answers From Experienced DenverÂ Attorneys
Filing for bankruptcy is a hard decision. In all of our years of experience, it’s hard to think of a client who was happy at the prospect. Unfortunately for some, fear of facing the inevitable has led them to miss opportunities or to make costly mistakes.
Don’t let emotional concerns or worry about your reputation keep you from getting the facts about bankruptcy. At Greenwald & Hammond, we offer honest answers and sound legal advice to clients facing overwhelming debt in Denver, Aurora and throughout the metro area. Contact us today for a free evaluation of your options.
There are two basic types of consumer bankruptcy: Chapter 7 and Chapter 13. Each has its own set of requirements to qualify. The process may be different, but the result is ultimately the same â freedom from most or all of your crushing debt. But many people let fear or embarrassment stop them from seeking the straightforward guidance they need to determine if filing for bankruptcy is the right choice.
Lawyers Helping You Avoid Basic Bankruptcy Mistakes
Once you know whether you meet the requirements to file under Chapter 7 or Chapter 13, your capable attorney at Greenwald & Hammond can guide you through the process step by step and help you avoid some of the most common pitfalls encountered by people seeking relief from debt, such as:
- Waiting Too Long to Talk to an Attorney: In some cases it is possible to forestall or avoid bankruptcy. Certain options like mortgage renegotiation or credit card debt workout plans may no longer be available if you wait too long. The sooner you understand your rights and real options, the sooner you can take effective action to get out of debt.
- Cashing in a 401k or IRA: These funds are meant to provide security in retirement. Your creditors cannot touch them and they will not be forfeited in bankruptcy. Don’t sacrifice your future to pay debt or a mortgage you cannot afford.
- Falling for a Debt Consolidation or Debt Negotiation Scam: There are a lot of companies advertising these services on the Internet. While some may be legitimate, many have one goal â to take your money. You are much better off discussing your needs with an experienced, board-licensed bankruptcy and debt relief lawyer.
- Letting Fear of Credit Rating Damage Stop You From Filing: The banks would like you to think that filing for bankruptcy will ruin your credit. The truth is many of our clients already have damaged credit because of late payments. In many instances, our clients saw their credit score actually rise in the year after filing for bankruptcy.
Contact Our Denver Law Firm for Bankruptcy Guidance
The attorneys at Greenwald & Hammond can conduct a thorough assessment of your situation and advise you as to your full range of options. To get the straightforward answers you need in a free “bankruptcy basics” consultation, please contact our offices today. We serve clients in Denver, Aurora and throughout the metro area.