Colorado Springs Bankruptcy Lawyer
Helping Coloradoans for More than 90 Collective Years
Are you facing overwhelming amounts of debt, an underwater loan, or any other form of severe financial stress? If so, you may be considering bankruptcy in order to eliminate your debts and start over fresh. This process is complicated and could be avoided altogether by pursuing an alternative option. The best way to ensure that you make the right decision is to speak with a Colorado Springs bankruptcy attorney and learn about your legal options.
Clawson & Clawson has represented Coloradoans for more than 90 years combined. Our lawyers are friendly and approachable, but also have the skill and aggression to fight for the results you need. We understand the serious nature of your situation, especially if you are facing foreclosure or repossession. With our legal counsel, guidance, and representation, you could resolve your financial issue in the most satisfactory manner possible and find peace of mind once more. Call today to learn how we can help you with any of the following issues.
Bankruptcy Practice Areas
Alternative to Bankruptcy
Filing for bankruptcy may not be the best option for you. Our attorneys can discuss credit counseling, debt negotiation, debt settlement, or loan modification with you to determine whether or not one of these alternatives may be more beneficial.
When bankruptcy is the best decision for you, the benefits can be extensive. You could have part or all of your debts discharged, eliminate harassing collection letters and calls, and have the freedom to rebuild your financial state from the bottom up.
Scared of losing your home, damaging your credit score, or having your reputation damaged by bankruptcy? Our firm can debunk these and other myths through a simple consultation. Filing for bankruptcy could be one of the best decisions you ever make.
If you are unable to repay your debt at all due to a complete lack of income, you may be able to have most or all of your debts discharged through Chapter 7 bankruptcy.
This alternative to bankruptcy is achieved by negotiating with your lender. You will make a one-time lump sum payment to your lender that is somewhat less than the amount owed, and the rest will be discharged.
Negotiating with your lender is one of the best alternatives to bankruptcy. You could negotiate consolidation, a settlement, a loan modification, or any other number of changes that make your loan affordable. This way you will not have to file for bankruptcy.
Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act (FDCPA) prevents lenders and collection agencies from harassing, deceiving, or otherwise mistreating consumers. Violation of this act can result in punitive legal action.
If you are about to lose your home after defaulting on your mortgage payments, an attorney can help you fight foreclosure. This can be accomplished by "curing" the default by paying it back in full, or you could file for bankruptcy and place an automatic stay on the foreclosure.
Is Bankruptcy Right for Me?
Filing for bankruptcy may be the best choice for you if you are in extreme debt or facing foreclosure. This may be evident if you are living from paycheck to paycheck, are falling far behind on your payments, or are borrowing money from friends and family in order to make your payments.
Life After Bankruptcy
Many people will tell you that your life will be ruined after bankruptcy. On the contrary, there is life after bankruptcy! You will finally be free from the worry and stress of overdue payments and you will be able to start over from scratch.
By negotiating with your lender, you may be able to modify your loan in a way that makes it possible for you to make your monthly payments. Modifications include reduced interest rates, a lengthened loan term, or reduction of the principle.
In order to file for bankruptcy, you must first go through means testing to prove that you are financially incapable of making your loan payments. This test compares your monthly income to your monthly life expenses. If you have little to no income left after your expenses are deducted, you may be able to file for bankruptcy.
A lender has every right to repossess your property after you default on your lien payments. This is most common with vehicle liens. You can fight repossession by paying back the default in full, by negotiating with your lender, or by filing for bankruptcy.
Your lender or creditor may obtain a writ of garnishment if you are in default. This writ requires your employer to withhold up to 25% of each paycheck and give it to your lender as payment for your debt. Garnishment can be fought with the assistance of a bankruptcy lawyer.
Hire a Lawyer from Our Firm
Call the offices of Clawson & Clawson today if you are considering bankruptcy. Our attorneys have a 9.9 rating with Avvo® and are members of the American Association for Justice. With our counsel and representation, you can review all of your bankruptcy options and take action to resolve your overwhelming debt. Each lawyer with our firm works with their client to ensure that they obtain the best possible outcome, so don't wait. Contact an attorney from Clawson & Clawson today!
View the firm's profile at FindaBankruptcyAttorney.com.