Steps to Take Prior to Bankruptcy Filing...

Have you been thinking about filing for bankruptcy in Denver and are unsure of the steps needed to file for bankruptcy protection in Denver.   If you are considering Bankruptcy in Denver, here are some of the basics steps you need to start looking at before you pay an attorney in Denver to work on your bankruptcy case.

1. Look at your current assets and liabilities and put them on paper.  This way when you to to a bankruptcy attorney in Denver, then you are a step ahead.  Try and remember everything, so that you can see if you are really in a position for bankruptcy…  or if you need to manage the finances you have better. 
2. Get yourself a bankruptcy attorney in Denver you can trust.  Most attorneys will do a free bankruptcy consultation in Denver.  Take advantage of this and ask questions.  Make sure you trust the bankruptcy attorney…
3. Don’t worry about how bad it seems.  The goal of this process is to give a fresh start.  In a lot of ways, the worse it is, the better chance you will have a successful case.  (Of course don’t go and make it purposely worse right now because the courts take all these factors into mind.

Once you get over your fears, know where you are and can work with someone you trust to get you to a fresh start, you will be glad you took a bit of extra time to get to where you need to be.

If you live in Denver, Colorado and are considering debt settlement, debt counseling, and debt consolidation are alternatives to filing bankruptcy, but keep in mind that all these alternatives can have a significant negative
effect on your credit.  It is always adviseable to meet with an attorney in Denver to explore your options.

Any attorney will advise you that a debt settlement would allow you to settle your unsecured debt at a lower amount. Usually the creditor will want the agreed upon settlement amount in one lump sum. If you do not have this sum readily available then it is unlikely that debt settlement will be a good option. Although settling a debt can be done by an individual it is best to consult an attorney to ensure that you get the best outcome. Another reason to consult with a professional is to ensure that everything is done properly so that a creditor will not attempt to continue to collect on a settled debt.

Debt counseling is a good way to start dealing with your financial problems. Counselors can help you create a budget and help you find ways to resolve financial issues by creating a plan and consolidating your monthly payments. They may be able to reduce interest rates and the total balance owed. In order for them to be able to consolidate your monthly payments you must first be able to afford the monthly payment.

As an attorney, we realize for many people debt counseling is not an option since their financial situation is such that they cannot make the monthly payment even with the negotiated Debt consolidation can be done by borrowing against the equity you have in your home to pay your debts. This option requires that you have home equity and that you make an informed decision. Being unable to pay a home equity loan puts you at risk of losing your house which would leave you in a worse position than not being able to pay your credit card bill. If you are at this point, a bankruptcy attorney would be good to visit with to explore all your options.

Obviously, you will want to make sure they have the proper credentials. The most important ones are American Bar Association and Colorado Bar Association certified.  You want to make sure the person representing you has the legal knowledge and skill to accomplish the objectives set out after consultations.  This is one reason why many of the Consumer Debt Relief agencies can cause you problems.  You may wind up getting more sales reps trying to badger your creditors and make your situation worse than better by the time all is said and done.  Check out our upcoming horror stories to hear some examples of what happens when people don’t follow this piece of advice.

Next, don’t even bother trying to work with an attorney if you are not ready to be completely candid and actually work through these issues.  If you choose to drag your feet, not file paperwork in time, etc…  don’t waste our time or your money hiring an attorney to try and help when you’re not ready to commit to addressing the problem.  Our biggest complaint with our clients is they do not like to get us the information we need in a timely manner and this causes us sets of legal problems you would not find too compelling.  So, you could do yourself a huge favor by making sure a call that is made is also accompanied by a commitment to follow through when advice is dispensed for your best interest.

Finally, don’t let the thought of going into deeper financial woes scare you off from calling.  Our first consultation is free and we won’t take on clients we can’t give some kind of relief to.  Our goal is to help your financial situation become less of a burden in your life by using the legal means to protect your rights and assets.

We serve clients in Denver, but also in Littleton, Boulder, Lakewood, Golden, Highlands Ranch, Fort Collins, Aurora, Greenwood Village, Centennial, Englewood, Brighton, Commerce City, basically anyone in Denver County, Jefferson County, Arapahoe County, Douglas County, Adams County, or Boulder County, CO.