Meeting With A Parker CO Bankruptcy Lawyer Can Help Determine Your Next Step

Filing for bankruptcy includes choices that will be better made with the advice of a Parker CO bankruptcy lawyer. He can help you sort out your debt to realize if it can be discharged under Colorado state law.

The next step will be to determine if your debt is significant enough to petition for bankruptcy. Usually, if you owe more than $10,000, or more, and you and/or your family is facing hardship, your lawyer will advise that filing for some type of bankruptcy is in order.

Your Parker CO Bankruptcy Lawyer Can For Keeping Your Home

Bankruptcy laws may actually provide a way for you to keep your home.  If you’re facing foreclosure because you can’t make your mortgage payments, filing for bankruptcy with the help of a Parker bankruptcy lawyer can put any legal actions on hold, at least throughout the proceedings.

It’s important that you understand your options when it comes to property ownership, and bankruptcy.  Your Parker CO bankruptcy lawyer can explain all the avenues that you may be eligible to explore, and help you to make the right choice for your particular circumstances.

Ask For Counseling From Your Parker CO Bankruptcy Lawyer Before You File

When you meet with your Parker CO bankruptcy lawyer for the first time, he will ask if you think you could pay off your debt over the next three years, without depriving your family. He will also want to know how your income compares to the average for the state of Colorado, and about your specific debt, is it mostly due to overspending?

After a good deal of consultation, your lawyer will either know that you can handle your debt without bankruptcy, or that you are ready to move on to the next step in the process.

Under the change in bankruptcy regulations, you will be obligated to go through financial counseling before, and after you file. The law requires that you produce pay stubs from the two months just before you file, and present them to the court. Your Parker CO bankruptcy lawyer will advise you that your creditors will be allowed to review your latest tax returns.

Set up that first meeting now, and find out just where you stand. Call Parker Lawyers @ 303-841-9525.

A Parker CO Bankruptcy Lawyer Can Determine Your Eligibility For Chapter 7

There are several advantages to filing chapter 7 bankruptcy instead of chapter 13. Your Parker CO bankruptcy lawyer will tell you that Chapter 7 is a much faster process, and you will probably be allowed to keep most of your real estate assets, unless they are tied up as collateral for a loan. After a chapter 7 settlement, you will be totally free from any liability.

But are you eligible? If your income is over the standard amount, you will have to pass the “means test” in order to file chapter 7. That is, if you make more money than the average person with the same size family, you may have trouble filing chapter 7.

You will definitely be ineligible if you have filed before – within a determined time frame, or if a judge discovers any deceptions on your part when it comes to your ability to pay your creditors.

Let your Parker CO bankruptcy lawyer determine your eligibility. Bring your financial records, and all pertinent information to your meeting with Parker Lawyers. Call today for your appointment: 303-841-9525.