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Bankruptcy Overview

Seeking Relief Under the Bankruptcy Code with Legal Representation

The Bankruptcy Code is a federal law that was adopted to allow individuals and businesses to manage out-of-control debt. Bankruptcy is a common financial strategy many businesses and individuals have utilized. The lawyers at the firm of L.D. Brown are an invaluable resource for making sense of the labyrinthine bankruptcy codes and regulations.

Is Bankruptcy Right for You?

Our Denver bankruptcy attorneys analyze your current situation when determining the proper course of action. Each specific case will determine the appropriate bankruptcy filing. Since there are essentially six basic types of bankruptcy cases, it's imperative to utilize our expertise and experience to clearly understand your financial options.

What is a Bankruptcy Discharge?

It is a permanent order to protect you from any collection, legal, or communication actions from creditors. However, some debts cannot be discharged such as student loans, back taxes due and owing for the last 3 years, domestic support payments, restitution, and traffic violations.  Let us help you with all the right answers.

A bankruptcy discharge is automatically granted when no other litigation with objections to the discharge exist. Lawyers with our extensive knowledge are absolutely vital for dealing with potential objections and the lawsuits that may follow. Various debts can be discharged under each chapter, and you may still be required to repay certain debts after filing. Financial planning before, during, and after the filing process can be confusing and overwhelming. Our bankruptcy attorneys give you the essential information necessary for getting back on your feet. 

Chapter 7 

Chapter 7 bankruptcy is for individuals and businesses who want to discharge unsecured debt—credit card, medical, etc.— and free themselves of creditor harassment. Under Chapter 7, the debtor must submit non-exempt assets to the bankruptcy trustee for liquidation. While there are certain exempt assets that are necessary for your day-to-day living, it requires professional review to understand the assets you may or may not keep. Our bankruptcy lawyers determine qualification and clearly explain which assets may be retained.

Chapter 13 

Chapter 13 bankruptcy focuses on retaining assets rather than liquidation. This is known as a "wage-earner plan". It's a filing for restructuring debt with federal assistance. Clients who opt for a Chapter 13 bankruptcy will work with our Denver bankruptcy attorneys to create a repayment plan lasting from three to five years. The plan must be approved by the bankruptcy court and will require direct communication with creditors. It is imperative to strictly adhere to repayment plans to avoid collection activities from creditors in the future.

Contact Us for a Free Consultation to Learn More about Filing for Bankruptcy

We are committed to helping our clients regain their dignity and financial footing. Each and every one of our lawyers is here to demystify the filing process. Our bankruptcy lawyers maintain a comfortable, stress-free office environment and look forward to the opportunity to give you the help you deserve. Contact the law firm of L.D. Brown, PC, online or at 303-233-4200 to schedule your free consultation today.