Colorado’s 100% Online Bankruptcy Law Firm
No offices appointments. No Court Appearances.
Schedule a Consultation
Schedule a Consultation
Larimer County is located in the northern part of the state of Colorado, sharing a border with Wyoming. To residents, this is a county with good schools for children and great business prospects. The bigger cities like Fort Collins and Loveland are where most people find a bustling, dynamic environment, however, a promising environment does not always promise financial stability.
Sometimes, people face financial difficulties that are too big or too complex to handle alone. In the worst cases, Larimer County residents may be victims of illegal actions, whether they’re aware or not. To help people resolve these problems, it’s always a good idea to know about the legal guidelines that exist in Colorado, particularly regarding economics and the code of conduct businesses and banks should obey. If this still isn’t enough, people can get experienced professional assistance from financial law attorneys familiar with debt and other economic challenges.
Understandably, someone with debt may be concerned about additional expenditures for legal help. However, in simpler instances, people are often capable of addressing a situation themselves or with some assistance from a financial adviser.
There are, however, more complex situations where Larimer County residents are being victimized by organizations that do not adhere to Colorado consumer lending laws. In these cases, the best way to understand and deal with the situation is to seek out professional legal help. A financial law or debt attorney in Larimer County should be consulted when:
In terms of extra spending, it is difficult to find attorneys who will handle cases on a “pro bono” basis. The typical payment for services uses billable hours, but lawyers can choose to work with other methods depending on their goals. Some, for example, may work “on contingency,” which means they will only expect payment if they win a case for a client. Others, such as some Larimer County financial or bankruptcy lawyers, will ask for a nominal “flat fee” upfront and then work a case to completion.
A bankruptcy or financial law attorney in Larimer County is familiar with resolving a number of different financial challenges, including:
The law permits creditors and their debt collectors to contact Larimer County residents to attempt to collect payments owed on debts. However, there are well-defined laws at both the Federal and state levels outlining what actions they are allowed to take in pursuit of debt repayment. Sadly, aggressive or unethical creditors may try to exploit the ignorance of Larimer County residents about their consumer rights and act illegally, hoping the residents won’t realize that their rights have been violated and will quickly comply to end the treatment.
As one example, while creditors are within their rights to contact people behind payments on a loan and ask about the debt, they are not allowed to threaten, insult, or deceive Larimer County residents when they do so. They are also not permitted to make very late-night or early-morning calls or contact a person at work if the management doesn’t approve of such interactions. Anyone who experiences this kind of harassment should contact a Larimer County financial law attorney.
If a person or business is no longer in a position to handle their debt, filing for bankruptcy may be required. This is a type of financial protection, organization, and management to discharge a person’s debt. There are general guidelines for bankruptcy in the United States, but these regulations can also be passed and enforced at regional state levels, with Colorado being no exception.
Bankruptcy has different categories based on circumstance. Chapter 7 bankruptcy is implemented when there is no clear path for debt repayment with current resources. The solution here is to liquidate assets like property or belongings to help recover funds and discharge the debt. Both private individuals and businesses can file for Chapter 7 bankruptcy.
Chapter 13 bankruptcy is sometimes called a “wage earner’s plan”. It gets its nickname from being a less drastic measure, where the person or company in debt still has a reliable source of income such as a fixed monthly salary in their economic situation.
As a result of that variable, Chapter 13 bankruptcy creates a debt management plan, defining a payment period of 3-5 years and structuring out installments to be paid out similarly to a mortgage or vehicle loan. Once the payments have been completed, Larimer County residents will be discharged from their debt. As long as a person can provide proof of a verifiable steady income and the total debt is under $2.75 million, the court will grant Chapter 13 bankruptcy.
In some cases, a legally imposed debt repayment process may cause unanticipated burdens. Wage garnishment, for example, occurs when a Larimer County resident has defaulted on legally settled debt, such as missing child support payments. Because of this, the state partitions a portion of that resident’s salary to pay those debts.
The law in Colorado currently has an upper ceiling of 25% of a resident’s weekly income as eligible for garnishment. If the garnishment proves to create more of a burden than expected, a debt attorney in Larimer County can help manage the garnishment amounts.
One of the more devastating experiences Larimer County residents may have is falling behind on mortgage payments, resulting in the possibility of a foreclosure and the loss of their home. As with other states, Colorado has its own set of foreclosure laws, but not every organization or business can be counted on to comply with those laws.
In some instances, the actions taken for foreclosure may be unorthodox or even illegal. A financial lawyer in Larimer County can help assess these situations and may even help people retain their homes.
Credit cards are an essential element of modern financial life in America, especially for Larimer County residents who want to buy things online, book travel, rent a car, or simply build credit. Unfortunately, the ease and convenience of credit cards can lead to problems if they are used carelessly, resulting in potentially huge debts. The state is no stranger to this, as Colorado ranks #1 in the country for credit card debt.
Because this is a problem, programs exist in Colorado to help manage credit card debt. However, some situations are so large or complicated in scale that they require the help of a financial law or debt attorney in Larimer County to start proper debt management.
Repossession in Colorado usually refers to the seizing of vehicles if they are purchased with loans and too many of those loan payments are missed. This is not, however, a quick, overnight action. There is a legal process a creditor abides by before vehicle seizure is considered lawful instead of regarded as theft.
For those who have fallen behind on payments or are already at risk of vehicle repossession, a Larimer County debt attorney may be able to help. Alternative measures, like declaring specific types of bankruptcy, may render a vehicle off-limits to repossession.
Most of the time, a lawsuit should be entrusted to a litigation attorney. However, there are some situations, like when a debt collector sues for payment, where someone with specific financial experience is better qualified. Financial law attorneys are extremely helpful in these instances, as the nuances of a lawsuit or the threat of a lawsuit from debt collectors and other agencies usually need in-depth financial knowledge.
While America offers some of the most advanced and comprehensive medical treatments in the world, this can come at a tremendous cost. That cost can be catastrophic for those without suitable healthcare coverage from an employer. Medical expenses can quickly skyrocket while a person’s life may be on the line.
Larimer County debt attorneys can help resolve this crisis and may be able to help people transition through the bankruptcy process without losing access to their healthcare.
Other organizations besides banks may offer loans, especially for those who seek an advance of their salary, otherwise known as a “payday loan.” However, the speed of these loans and easier approvals come with their own hidden costs.
High interest rates and stiff penalties are some of the added fees that can cause these loans to create even more debt without taking out an additional loan. For people caught in this trap, a financial or debt attorney in Larimer County can help.
Erin Lane is here for Larimer County residents who need debt issues resolved. She was a founding member of the Washington State known practice the Washington Law Group. Now, she is expanding to Colorado, where she is prepared to provide legal assistance to anyone who finds themselves uncertain of how to manage their debt or other legal consequences they may face from specific financial challenges.