Get the Facts About Chapter 7 Personal Bankruptcy
Jonathan A. Hagn, P.C., is a Federally-designated debt relief agency that represents debtors, creditors, and trustees in bankruptcy proceedings.
Deciding to talk to a lawyer about bankruptcy is always a difficult step to take, but it may be the first step in getting back on your feet financially. Most people find great relief in getting answers to their questions and having a concrete plan of action to get out from under their debt.
Filing for Chapter 7 Immediately Changes Your Situation
When you file for Chapter 7, your financial situation in the eyes of the law and in the eyes of your creditors changes immediately. Filing for bankruptcy will:
- Stop creditor harassment - they can no longer call you or send you threatening letters in the mail
- Stop repossession of your car
- Stop garnishment of your wages and protect your bank account
- Stop foreclosure on your home
For a temporary period of time, you gain breathing room to plan your next steps with the help of your bankruptcy lawyer.
What Chapter 7 Can Do For You
As your bankruptcy attorney, Mr. Hagn will determine if you qualify for Chapter 7. He will then help you understand how the U.S. bankruptcy law applies to your case and what will happen in bankruptcy court.
Chapter 7 is most often granted to people who have suffered a sustained and/or ongoing loss of income or who are saddled with debts (often medical debts) that they will not be able to pay even if given more time and a lower interest rate.
In Chapter 7, unsecured debts are forgiven. You will still be responsible for child support, alimony, taxes and student loans, but credit card debt or medical debt is erased.
Depending upon your particular financial circumstances, you may be able to keep your home and your car. Mr. Hagn can review your specific situation and advise you of your options. He can also assist with mortgage loan negotiations or short sale negotiations.
Concerned About Your Credit Rating?
Many people want to avoid bankruptcy because they think it will ruin their credit rating. The truth is, late payments, failure to make payments and excessive debt have already damaged your credit. Bankruptcy allows you to get back on track. It is the first step toward eventually rebuilding your credit.
Consumer bankruptcy may provide you with the protection and debt relief you need. Contact Jonathan A. Hagn for more information.
Mr. Hagn is licensed to practice law in Colorado and Virginia
and before the United States Patent and Trademark Office
We represent clients throughout Colorado, in Denver, Adams, Arapahoe, Boulder, Broomfield, Douglas, and Jefferson counties including Arvada, Aurora, Boulder, Brighton, Broomfield, Castle Rock, Englewood, Evergreen, Glendale, Golden, Highlands Ranch, Lafayette, Lakewood, Littleton, Louisville, Northglenn, Thornton, Westminster, and Wheat Ridge.