Get the Facts About Chapter 13 Personal Bankruptcy
Sometimes life just takes its toll on you financially. A pay cut, a bout of unemployment, an illness - any number of temporary difficulties can create serious financial problems. Perhaps you are in over your head with credit card debt. Despite what you may be thinking, you're not alone. Chapter 13 bankruptcy may be the right answer for you.
Attorney Jonathan A. Hagn helps individuals and families in the greater Denver area file for Chapter 13 bankruptcy and develop a debt repayment plan. Learn more about how Chapter 13 might help your situation. Contact The Law office of Jonathan A. Hagn to schedule a consultation.
Filing for Chapter 13 Immediately Changes Your Situation
When you file for Chapter 13 your situation immediately changes:
- No more creditor harassment or threats
- No more wage garnishment or levies on your bank account
- Your home cannot be foreclosed upon
- Your car cannot be repossessed
From the time you file for bankruptcy until you are working with the bankruptcy court, actions cannot be taken against you. You will gain breathing room to make decisions and to work with your lawyer to come up with a plan.
What Chapter 13 Can Do For You
If you have significant credit card debt or other personal loans that you could pay if repayment conditions were better, then Chapter 13 bankruptcy may help you. Your bankruptcy attorney will work with the bankruptcy court trustee to determine the full extent of your debt and will then negotiate for:
- Removal of fees and fines for overdue credit card or other loan debt
- Possible reduction in the total amount of your debt
- Reduction in the interest rate you must pay on any remaining debt
- An extension of the period for repayment (generally set at 3 to 5 years)
What this means is that you will have less debt to repay and a longer time to pay it back.
Concerned About Your Credit Rating?
One of the benefits of Chapter 13 is that the act of repaying your debt automatically begins the process of rebuilding your credit rating. As you pay the bankruptcy court trustee each month - who repays your creditors - you are re-establishing your credit history.
Chapter 7 or Chapter 13 consumer bankruptcy may provide you with the protection and debt relief you need. Contact The Law Office of Jonathan A. Hagn for more information.
The Law Office of Jonathan A. Hagn, P.C.
802 E 19th Ave
Denver, CO 80218
Phone: 303-399-3066
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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.