March 3, 2014

Denver Chapter 13 Bankruptcy Lawyer

If you are an individual experiencing financial difficulty, a qualified bankruptcy lawyer can help you decide whether filing for Chapter 13 Bankruptcy is appropriate in your circumstances.

At Lindquist-Kleissler, our Denver Chapter 13 Bankruptcy attorney has 30+ years of experience and provides knowledgeable, straightforward case assessment so that you know and understand your options under Colorado Bankruptcy Law. Contact us today to schedule a free 30-minute consultation and to receive your free Bankruptcy Packet.

Wage Earner Bankruptcy

Chapter 13 Bankruptcy, also known as the wage earner plan, allows debtors to set up a three to five year creditor repayment plan. As a debtor, you don’t repay all of your debt but you pay a portion of your disposable income to the creditors. The goal for debtors in a Chapter 13 Bankruptcy is to repay to creditors as little as possible each month. Chapter 13 Bankruptcy uses calculations to determine the amount of your plan payment and the length of your plan. It can be up to five years or 60 months.

Stop Home Foreclosure

Chapter 13 Bankruptcy can be advantageous to those who have fallen behind on mortgage payments and who are looking to stop home foreclosure. Most people in Colorado have adjustable rate mortgages (ARM) that tend to adjust up. If people are having trouble at the inception of a loan, generally the situation continues to worsen. Interest rates could jump again. Chapter 13 Bankruptcy is one of the few ways to attempt to cure defaults or non-payments on a mortgage.

Colorado utilizes state exemptions in Chapters 7Chapter 11, and Chapter 13 Bankruptcy to arrive at the amount of the debtor’s property exempt from the claims of creditors.

Contact Lindquist Kleissler & Company, LLC today to learn whether Chapter 13 Bankruptcy is right for you.