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Chapter 13 Bankruptcy Document

Individuals and families usually have two options when it comes to bankruptcy. Choosing which one to use depends largely on the amount and type of your debt and the level of your income. Learn more about which option is best for your situation!

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No one enjoys getting calls from creditors about delinquent accounts under any circumstances. To make matters worse, some debt collectors use practices that cause additional stress, such as calling during dinner, before 8 a.m., after 9 p.m., calling you at work, and even using obscene or threatening language.

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Filing for bankruptcy is never an easy decision, but it may be the best way for you to put your finances back on track. As with any other major decision, bankruptcy requires careful thought, planning, and preparation.

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People who file for Chapter 7 or Chapter 13 bankruptcy are seeking a fresh financial start for themselves and their families. Most do not make the decision to file easily. Even when debt is managed and cleared, bankruptcy leaves behind a poor credit score for years. By following some careful strategies, you can repair your credit score over time.

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Business woman pulling a credit card out of her wallet

In 2019, personal filings in Colorado under Chapters 13 and 7 of the bankruptcy code reached 10,975, according to the U.S. Bankruptcy Court, Division of Colorado. Though final statistics are not yet in, 2020 appears to be trending similarly, but with the unemployment and business interruption effects of COVID-19, who knows where the stats will end up?

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No matter what life circumstances led you to the decision to file for bankruptcy, Garcia & Gonzales, P.C. understands it was a difficult choice. Practicing since 1977, our lawyers have successfully handled thousands of bankruptcy cases and expertly guided our clients through the process of recovery in the wake of financial challenges.

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The average U.S. household is carrying more than $203,000 in debt, when factoring in credit card debt, mortgage debt and student loan debts. While making efforts to pay such debt down is clearly important to getting to a better financial state, knowing just how to do this can be a little less clear, particularly if you are juggling multiple bills ...

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Last year, the Supreme Court approved several changes to bankruptcy results surrounding the administration of consumer bankruptcy cases as well as Chapter 13 cases. It took Congress’s rules committee several years to draft and debate the rule amendments, which took effect Dec. 1, 2017.

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In Part 1 of this series on tips for fixing your credit rating after a bankruptcy, we talked about the first steps to take to get your financial affairs back in order. Building your credit back up, as we discussed, involved gathering your credit reports, disputing negative comments and errors on your credit reports, and using kindness to your advantage ...

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So, upon the advice of your legal advisors, family, or friends, you wiped the slate clean and filed bankruptcy. Now, you are wondering what to do next after the dust has settled on your financial life. Maybe you’re young and you made some mistakes, or you made some bad business decision, but now you plan to come back stronger than ...

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