It is a common misconception that filing for bankruptcy is a bad thing. Filing bankruptcy does not have the negative stigma it once had. It is meant to give individuals a fresh start so they can begin to contribute to the economy again. You can immediately begin to rebuild your credit and may even be able to buy a home or purchase a vehicle as soon as three years after filing.
If you have recently considered bankruptcy, you can turn to our law firm for help. We are the legal team at The Pearman Law Firm and we represent individuals in consumer bankruptcy matters. Our firm is located in Wheat Ridge, Colorado, and we serve clients throughout the entire Denver metro area.
Benefits of a Chapter 7 Bankruptcy
Chapter 7 bankruptcy is specifically designed to give individuals a fresh start. In a Chapter 7, your unsecured debts are entirely discharged. As soon as you file, the automatic stay stops wage garnishments, foreclosure, repossessions and creditor harassment. Most people can still qualify for Chapter 7, even after the recent federal law changes in 2005. While bankruptcy information is technically available to the public, it is likely that only you and your bankruptcy lawyer will know you have filed.
Benefits of a Chapter 13 Bankruptcy
Chapter 13 bankruptcy has a number of different benefits. Like Chapter 7, a Chapter 13 bankruptcy will stop wage garnishments, foreclosure, repossessions and creditor harassment. It allows individuals to get current with arrearages on a mortgage over the time of the payment plan period (three to five years), as well as with child support, maintenance and car payments. This can all be done without interest or penalties accruing. Bankruptcy alternatives do not allow for the same benefits.
Contact a Wheat Ridge Chapter 7 and Chapter 13 Bankruptcy Lawyer
To schedule a free initial phone consultation with an attorney at The Pearman Law Firm and learn about the benefits of bankruptcy, call 720-259-9528 or 888-835-6339. We can also be reached online through a short contact form. There is no charge to learn about the services we provide.