Common Causes to Bankruptcy Filings in Fort Collins

If you have been considering filing a Chapter 7 or a Chapter 13 bankruptcy in Fort Collins, there are some common reasons why this is something you’d consider and a few reasons you might think about, but actually won’t be debt which can be discharged.

Common Reasons People Need to File Chapter 7 or Chapter 13 Bankruptcy in Fort Collins:

• Medical bills are completely out of control.  Maybe after losing work you were under a COBRA plan, it ran out and everything is out of pocket.  On small surgery, like a hernia repair can cost $10,000 or more out of pocket.  Added with other bills, this can be crippling.
• Divorce – Divorce has not only emotional blowback, but the financial costs of going through a divorce can be way outside of your means
• Life Circumstances - Maybe you had a $120,000 per year job two years ago and it seemed secure.  You got laid off and now make $36,000, but your car, your house, etc were all purchased when you had the good job.  Now you can’t make all the payments.

What does not qualify to be discharged?

• Child Support payments
• Government Loans such as Student Loans
• Tax debts to the IRS
• Court orders against you (successful lawsuits you owe money on)

We hope this helps you know why people may be filing for bankruptcy.  Simply said, bankruptcy can be a viable solution when your debts exceed your income and assets.

Are You Too Busy to Think About a Bankruptcy?

Debt has a funny effect on the lives of people who have to deal with it on a day to day basis (and who doesn’t in one way or another?)  We see mounting bills and they keep piling on in and then we see the little amount of cash coming into the coffer, we get stressed out, take on another job or two…  can’t take care of ourself, get sick, more bills, etc, etc…

When you get trapped into the deep debt cycle, there is very little that seems like can be done.  Considering bankruptcy would be interesting, but really, who has time for that?  And isn’t declaring bankruptcy (Chapter 7 or Chapter 13) kind of admitting defeat?

For people in this painful cycle, you should consider a no cost bankruptcy consultation.  Our attorneys work hard to keep your energy and time committment at a minimum, and realize there can be emmense value to a fresh start.  If you would like a fresh start on your finances, if you have hit the end of your tether, give us a call for a Fort Collins bankruptcy consultation!

Which to do? Chapter 7 or Chapter 13?

Have you been considering a bankruptcy in Fort Collins?  Do you know you need help, but don’t know if you need a Chapter 7 or a Chapter 13 filing?  We know this can be confusing, but that is why we are here to help.

The first thing to consider is your income, there is a sliding scale to how much you can make in order to get a Chapter 7 bankruptcy through the courts.  This varies based on family size and other factors, so getting consultation from a Fort Collins bankruptcy attorney would be a good idea.

Chapter 13 bankruptcy is probably a type of bankruptcy you will not be able to do on your own.  This tends to be for individuals or couples who have historically made good income and just need more time to become current with their bills.

Of course both have their plusses and minuses…  The biggest plus to a Chapter 7 is that most unsecured debt goes away.  The biggest plus for a chapter 13 bankruptcy is that you can get extra time to pay back legitimate debts.

If you are considering bankruptcy and do not already have a competant and qualified bankruptcy attorney in Fort Collins, please give us a call for a free consultation.

It's Time to Change Your Luck!

There are a lot of things that go into a decision to file for bankruptcy in Fort Collins.   First, is it the best decision for your long term goals?   Second, are your bill really more than you can handle?   If you’re filing due to unpayable medical bills, how will this affect your current treatment?

Bankruptcy, if done correctly and with quality legal council, can give you a new financial beginning.   Generally people don’t consider bankruptcy unless life has dealt them a hand they can’t play.   There are the scammers of course, who GET CAUGHT by the way, but generally the average client walking in the door has had something catastrophic happen or they’re dealing with some foolish decisions from earlier in life.

If you’re considering filing for bankruptcy in Fort Collins due to medical bills, divorce, or business failure, make sure you’re not starting over when you have less dramatic options available.   Creditors can be understanding, especially when they find out you’re looking at bankruptcy in Fort Collins as a possibility. I recommend meeting with an experienced bankruptcy attorney, an accountant, and your spouse (if you’re married).   If you don’t have to start from scratch with your credit, you’ll end up being ahead in the long run.   If however, bankruptcy is the only way for you to regain your financial freedom, it could be your ticket to a new beginning.

Give me a call for straighforward honest advice on your bankruptcy in Fort Collins.   We are experienced attorneys, and we enjoy helping our clients be successful.

Looking for Some Financial Relief?

When someone decides to file for Chapter 7 or Chapter 13 bankruptcy in Fort Collins, it usually comes with some sould searching.  What factors generally lead someone to have to make this difficult decision?  Is it just people shopping all the time and poorly managing their money, or are there other factors generally at work?

Truth be told, some people have the financial calamities they do because of poor financial judgement, but this is not the vast majority of people.  Did you know that over half the people who file for bankruptcy do so because of medical bills?  Having a health calamity is generally more than most families can endure, especially when they do not have adaquate insurance coverage or the insurance company figures out a way to block them off for the next year.

What are some other bankruptcy causes?  Most of them are MAJOR events, like a divorce, a business completely failing, losing a job and not being able to find employment, having a sick child who requires a parent to be at home all the time…  These are events which generally are hard to plan for.  If you are facing one of these situations and have found you are unable to pay your bills, maybe it is time for you to considering hiring a bankruptcy attorney in Fort Collins.