Free CO Bankruptcy Interview 11 Reasons to Hire a Lawyer CO Bankruptcy Questions Resources

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Colorado Bankruptcy Attorneys

Colorado Bankruptcy Lawyers
Law Office of Jim Forslund
3780 S. Broadway
Englewood, CO 80113
Office 303-761-6067
Cell 303-332-3602
Fax 303-672-6815

Discover How To Solve Your Debt Problems Risk Free

      When you find yourself in a financial bind that just keeps getting worse, it can be difficult to take stock and make good decisions for the long term. Too many people get caught in the cycle of scrambling to keep their heads above water, juggling bills so that nothing gets "too far behind" and paying ever-increasing interest, late charges, and over-the-limit fees. Call 303-761-6067 to schedule your FREE consultation with our bankruptcy attorneys.

      Are you having some serious financial difficulties. I'm here to help. I understand your financial problems and what you must be feeling, because I've helped people solve problems like yours for over 17 years.

      I'm an attorney, and I might be able to help you, too. You're probably concerned about what could happen to you and your family, to everything you own, and to your credit standing. I don't want to scare you, but if you have creditors coming after you, you may lose a large portion of your possessions.

Bankruptcy . . . Eliminate Debts For Good

      Bankruptcy may be the right choice for you. Because this law gives you certain rights which protect you from creditors. Simply put, a bankruptcy gives you a fresh start by restructuring or wiping out your debts.

      In a straight bankruptcy, the first thing we do is file the papers (called a petition) to start the bankruptcy. The bankruptcy court then issues an order to your creditors, telling them that they are not allowed to do anything to collect from you. They have to stop calling you, they have to stop writing you, and they have to stop any court proceedings. If they don't, they risk being found in contempt and having to pay a fine.

      In that paperwork, all the things you own will be on one list, and all of your debts in another one. It might be easier to think about this in terms of a pile.

      Imagine all of the things you own being put into one big pile. Some of your property may have a mortgage or other kind of lien which you have given to a creditor to guarantee that you will pay that particular debt. To the extent of that guarantee, the value of that property is taken out and put in a second pile for those secured creditors.

      The bankruptcy code allows you to remove some things from the first pile (these are exempt items) and keep them as yours (and it's a fairly long list of things). For example, your clothing, your home up to a certain value, your household furnishings, work tools, books, an automobile up to a certain value, and so on. In your bankruptcy we'll arrange it so that as much of your property as possible goes into an exempt category.

      If there are no assets left in the main pile, it is called a "no asset" filing. Your unsecured creditors get nothing.

      If there are some assets left in the main pile that do not have any liens against them, and that the law doesn't permit you to keep as your own (because of their quantity or value), then these items are taken over by the bankruptcy trustee and sold, and the cash is divided up between your creditors.

      At the end of the bankruptcy the judge issues an order "discharging" you from your debts. At this point your debts are torn up, and you don't owe that money any longer.

      Now, you may have some debts that you would like to keep paying on, such as your house. In that case, you sign an agreement with the mortgage company reaffirming that particular debt. We submit that agreement to the bankruptcy judge. Unless he thinks there is some reason that agreement would not be in your best interests, he'll approve it. In this case, that particular debt survives the bankruptcy, and you just continue making your payments.

      As long as you live up to the agreement, you'll still own that property.

      Actually, there is more, but I don't have the space in here to tell you about all of it. For example, I've only talked about a straight bankruptcy. There is also what's known as a wage earner's bankruptcy, which involves restructuring your debts. In most cases you have a choice between the two. Which is better depends on your situation.

Discover How To Stop Debt Problems, Risk Free

      You can learn more about this option and the other possibilities during a free, first meeting with me. We'll go over your financial matters to see if bankruptcy is a viable solution. I'll also ask you several probing questions. I'm not doing this to embarrass you, but to discover what legally can be done for you.

      During this first meeting you'll get to know me. You'll determine if we are compatible--that means not only do we like each other, but we feel that we are in accord with what I want to do and what you want to accomplish. If we are, I'm willing to use all my legal skills to champion your cause and obliterate your financial problems.

      When you come in I won't high pressure you. I'll speak to you in plain English. I'll make sure that you understand everything that I tell you before you leave.

      All I'm saying is that I think you owe it to yourself to get more information, and I humbly believe I've got that kind of information to purvey.

      Some individuals do try to handle it themselves without legal assistance, but this is usually risky because if it doesn't get done right, the whole thing's going to get thrown out. And you'll be back in the middle of the problems you were in to begin with. But by that time, with the passage of time, it will probably have gotten worse.

      The first meeting is free, so there is no risk on your part--and I'll concisely state just what your rights and options are. I'll give you my candid advice. You can make a decision. Whatever you decide, you have no further obligation to me.

      When you retain us:

  • We will analyze the amount and nature of the debts you owe and determine the best remedy for your financial situation.
  • We will advise you of the releif available to you under Chapter 7 ("straight bankruptcy") and other Chapters of the Bankruptcy Code, and the advisability of proceeding under each chapter.
  • We will assist you in obtaining the necessary prebankruptcy budget and credit counseling briefing.
  • We wil assemble the information and data necessary the Chapter 7 forms necessary for filing.
  • We will prepare petitions, schedules, statements and other Chapter 7 forms for filing with the bankrupcy court.
  • We will assist you in arranging your assets to enable you to retain as much as possible after the Chapter 7 case.
  • We will file the petitions, schedules, statements and other forms with the bankruptcy court, and, if necessary, notify certain creditors of the commencement of the case.
  • If necessary, we will assist you in reaffirming certain debts, redeemeng personal property, setting aside mortgages or liens against exempt property and otherwise carrying out the matters set forth in the statement of intention.
  • Attend the meeting of creditors with you and appear at any other hearings that may be held in the case.
  • Assist you in attending and completing the required instructional course on personal financial management.
  • If necessary, prepare and file amended schedules, statements and other documents with the bankruptcy court in order to protect your rights.
  • If necessary, assist you in overcoming obsticles that may arrise to the granting of a Chapter 7 discharge.

      You can discover for yourself how your property can be protected. Call me now at 303-761-6067.

Sincerely,

Jim Forslund

PS We are A Federally Designated Debt Relief Agency Pursuant to Title 11 of the U.S. Code to help people file bankruptcy.

Statement required under 11 USC %A7527(b)

IMPORTANT INFORMATION ABOUT BANKRUPTCY ASSISTANCE SERVICES FROM AN ATTORNEY OR BANKRUPTCY PETITION PREPARER.

If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can get help in some localities from a bankruptcy petition preparer who is not an attorney. THE LAW REQUIRES AN ATTORNEY OR BANKRUPTCY PETITION PREPARER TO GIVE YOU A WRITTEN CONTRACT SPECIFYING WHAT THE ATTORNEY OR BANKRUPTCY PETITION PREPARER WILL DO FOR YOU AND HOW MUCH IT WILL COST. Ask to see the contract before you hire anyone.

The following information helps you understand what must be done in a routine bankruptcy case to help you evaluate how much service you need. Although bankruptcy can be complex, many cases are routine. Before filing a bankruptcy case, either you or your attorney should analyze your eligibility for different forms of debt relief available under the Bankruptcy Code and which form of relief is most likely to be beneficial to you. Be sure you understand the relief you can obtain and its limitations. To file a bankruptcy case, documents called Petitions, Schedules and Statement of Financial Affairs, as well as in some cases a Statement of Intention need to be prepared correctly and filed with the Bankruptcy court. You will have to pay a filing fee to the bankruptcy court. Once your case starts, you will have to attend a required first meeting of the creditors where you may be questioned by a court official called a 'trustee' and by creditors. If you choose to file a chapter 7 case, you may be asked by a creditor to reaffirm the debt. You may want help deciding whether to do so. A creditor is not permitted to coerce you into reaffirming your debts. If you choose to file a chapter13case in which you repay your creditors what you can afford over 3 to 5 years, you may also want help with preparing your chapter 13 plan and with the confirmation hearing on your plan which will be before a bankruptcy judge. If you select another type of relief under the Bankruptcy Code other than chapter 7 or Chapter 13, you will want to find out what should be done from someone familiar with that type of relief. Your bankruptcy case may also involve litigation. You are generally permitted to represent yourself in litigation in bankruptcy court, but only attorneys, not bankruptcy petition preparers, can give legal advice.