Bankruptcy Help in Denver Metro Area
Lakewood lawyer assisting with your Chapter 7 or 13 bankruptcy
Lynn Pierce helps you move past your financial difficulties as soon as possible. She helps stop the harassment of creditor calls. Ms. Pierce helps to determine whether Chapter 7 or Chapter 13 bankruptcy is best for you, and remains with you at every step throughout the bankruptcy process.
Chapter 7 bankruptcy — personal liquidation
Chapter 7 provides a fresh start for individuals, partnerships and corporations with no hope for repairing their financial situations. It is the most common form of bankruptcy and involves a liquidation of personal assets, where most or all of your assets are sold and the proceeds distributed to your creditors. This type of proceeding helps people who have high unsecured debts, such as credit card or medical bills. Some assets — like your car and home — can be declared exempt.
You must pass a means test for Chapter 7. This means test is a set of formulas used to determine if you have the ability to pay your debts. If you are found to be able to pay, you cannot file for Chapter 7 bankruptcy. Ms. Pierce determines if Chapter 7 is the best solution for you.
Chapter 13 bankruptcy — personal reorganization
Chapter 13 is especially helpful for those who have significant equity in a home or other property and want to keep it. It is designed for individuals with a regular income who want to pay off their debts but are unable to do so according to the terms demanded by their creditors. Ms. Pierce can propose a repayment plan that pays off your creditors over the course of three to five years. During this approved repayment period, creditors are generally prohibited from continuing collection efforts. Ms. Pierce leads and protects you through the Chapter 13 bankruptcy filing process from start to finish.
Your Colorado bankruptcy solution
If you are considering filing for Chapter 7 or Chapter 13 bankruptcy, contact the Law Offices of Lynn Pierce to arrange a confidential consultation.