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The New Year is almost here. And while many people may be getting ready for this evening’s festivities, others may be making some longer-term plans to improve their life in 2016.

Each year in the U.S., debt collectors contact consumers about a billion times seeking repayment of some outstanding debt. While some of the debts triggering this contact may be valid, not all of them will be. Also, not all parties who claim they are owed some debt will be legitimate debt collectors.

Colorado bankruptcy exemptions allow the people who are pursuing bankruptcy to retain some of their assets through the process. While these bankruptcy exemptions can apply to various types of assets – including cash, personal property and even insurance policies, they can also protect people’s homes in some cases.

Eliminating debt through bankruptcy can help people get their finances back on track. While bankruptcy is a process that can take months (or longer) to resolve, however, preparing to file for bankruptcy can also be a process.

As 2015 winds down, many people are getting ready for the holiday season – and for a lot of people, this will mean spending money to buy decorations, get loved ones gifts, and/or prepare for holiday parties.

Chapter 7 bankruptcy, or liquidation bankruptcy, can be an effective debt relief option. It is not for everyone, however, as there are some limitations regarding who can pursue a Chapter 7 case, as well as what a Chapter 7 case can do.

Your credit report details your debt obligations and repayment history, among other things. Consequently, this report usually serves as one important factor in determining your credit score, which can be central to your purchasing power and borrowing opportunities.

When you are ready to resolve serious debt issues, meeting with a bankruptcy attorney for an initial consult can be the best way to get answers about your options for moving forward.

When you are ready to take action to resolve serious debt issues, filing for bankruptcy can be one of your better options for debt relief.

Bankruptcy can be an effective way to overcome crushing debt and achieve a financial fresh start. While this can be a huge benefit of filing for bankruptcy, however, it is important to understand that...