Jefferson County Chapter 7 & 13 Bankruptcy Lawyers
If you have significant debt problems, you are probably worried about the future. At The Pearman Law Firm, our attorneys can give you a reason for hope. Filing bankruptcy can put an immediate stop to issues like creditor harassment, home foreclosure, wage garnishment and car repossession, and give you a fresh financial start. We serve clients in Wheat Ridge, Lakewood, Arvada and other communities in the Denver metropolitan area.
There are two forms of bankruptcy relief for consumers:
- Chapter 7 bankruptcy: Chapter 7 bankruptcy is a one-time liquidation of debt. Chapter 7 is the most common form of debt relief in Colorado. However, if you earn too much money you may not be eligible. In addition, there may be reasons why Chapter 13 bankruptcy is better for you.
- Chapter 13 bankruptcy: A Chapter 13 bankruptcy case is like a creditor repayment plan. However, most creditors are not paid in full. Chapter 13 bankruptcy can help you save your home if you have arrearages. It can also strip a second mortgage from your home.
Many people wait too long to file bankruptcy because they are concerned about the effect it may have on their credit. However, if you have significant debt problems, your credit score may already be in the 400s to low 500s. If that is the case, your credit may improve because bankruptcy will wipe out your debt.
Filing bankruptcy does not have the stigma it once had. A bankruptcy filing will be on your credit for 10 years, but that doesn't mean that you will have bad credit for 10 years. Your credit rating can be in the upper 600s a year after your bankruptcy filing. You may be able to buy a new home as soon as three years after your filing.
For More Information About Bankruptcy
To talk to our Lakewood bankruptcy lawyers, call 720-259-9528 for a free initial phone consultation. We speak Spanish and Portuguese.
