Colorado’s 100% Online Bankruptcy Law Firm
No offices appointments. No Court Appearances.
Schedule a Consultation
Schedule a Consultation
Are you losing sleep at night because of financial worries?
Have debt collectors been harassing you by phone, e-mail, or letters?
Are you one missed payment away from foreclosure or repossession?
Do you struggle to keep your utilities on every month?
Are you visiting this website because you need some help with debt relief?
Although many people are afraid of the bankruptcy process because they believe it will do irreversible harm to their credit or think it’s morally wrong, the truth is, bankruptcy can be an opportunity for a fresh start. If you are feeling the overwhelming burden of your debts, then reach out to our Pueblo bankruptcy attorneys so we can use our extensive experience and knowledge of the law to help you file for bankruptcy so you can take control of your life and financial future.
What our Pueblo bankruptcy attorneys bring to the table are several important assets to provide you with the information, experience, and knowledge that will help you overcome your current financial difficulties. On this website, we go over the basic information about what filing for bankruptcy is, the different chapters of bankruptcy you can file for, and general information about how filing for bankruptcy can help you.
However, general information is just that – general information. Every individual’s financial situation is unique, and bankruptcy assistance will need to be tailored to your specific needs. Contact our Colorado bankruptcy lawyers for a free consultation before you try and do this on your own and let us show you how we can help.
The traditional stigma of bankruptcy is that it’s for lazy, unemployed people just looking for a handout. In today’s troubling economic times, that couldn’t be further from the truth.
What is true is that almost everyone you know is in some kind of debt.
Compiled from data collected by the United States Federal Reserve, listed below are some 2021 debt statistics.
Approximately 80% of Americans have personal debt.
Colorado’s average consumer debt jumped from $131,995 in 2020 to $140,327 in 2021. (That’s over a 6% increase, which is one of the highest averages in the country)
Colorado private and federal student loan borrowers owe an average balance of $34,497
The median amount of debt in collections for Colorado is approximately $1600.
Over 10,000 Colorado residents filed for either Chapter 7 or Chapter 13 bankruptcy in 2021.
The average amount of debt by generation in 2021:
Gen Z (ages 18 to 23): $20,803
Millennials (ages 24 to 39): $100,906
Gen X (ages 40 to 55): $146,164
Baby boomers (ages 56 to 74): $95,607
Silent generation (ages 75 and above): $39,859
We don’t present these statistics to frighten you, merely to make you see that if you’re struggling with debt in Pueblo, you aren’t alone. If you’d like to do more research on debt statistics in the United States, visit the following websites
Once you’ve decided to seek help for debt relief, contact our Pueblo bankruptcy attorneys for a no-obligation case consultation.
Bankruptcy is a process that gives you a legal means of starting over financially when you can’t afford to pay your debts. The goal of modern bankruptcy is to allow the debtor to have a “fresh start,” and the creditor to be repaid.
There are several forms of bankruptcy, but the two most common, geared to help individuals struggling with financial burdens, are called Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy – Filing for this type of bankruptcy, also known as liquidation bankruptcy, is a viable option for people looking to clear a significant amount of unsecured debt, with no current means to pay back the debt.
Once you have filed for Chapter 7 bankruptcy with the court, a trustee will be appointed to your case. The trustee’s job is to collect all of your assets and sell any assets which are not exempt. Thankfully, Colorado has some rather generous exemptions for bankruptcy filings, including-
Hiring a knowledgeable Pueblo Chapter 7 Bankruptcy lawyer can go a long way towards getting to keep most of your assets when filing Chapter 7 bankruptcy.
Whatever assets you own that cannot be exempt are then liquidated. After filing, the proceeds of the liquidation are then distributed to your creditors, releasing you from debt.
Chapter 13 Bankruptcy- Filing for Chapter 13 bankruptcy, also commonly referred to as reorganization bankruptcy or “wage earners bankruptcy,” is an option for people who have a regular source of income and can use a portion of that income to pay down debt. This filing proposes a 3-5 year repayment plan to creditors and lenders offering to pay off all or part of the debts from your future income. If you can stick to the terms of your repayment agreement, all of your remaining dischargeable debt will be released at the end of the plan. Having the help of a knowledgeable Pueblo Chapter 13 bankruptcy attorney will make this a much easier process than trying to figure out Chapter 13 bankruptcy alone.
All bankruptcy filings can be done online through the United States Bankruptcy Court- District of Colorado website. Additionally, all forms can be found there if you’d like to take a look at what sort of information you’ll need to gather before beginning the filing process.
For more in-depth information on Chapter 7 and Chapter 13 bankruptcy, as well as detailed information on the bankruptcy court process, continue reading on the United States Courts- Bankruptcy website.
As experienced legal professionals handling bankruptcy cases in Colorado for over a decade , we’ve seen first-hand how bankruptcy helps honest, hard-working people solve their financial problems. Listed below are just a few of the benefits of filing for bankruptcy, most of which happen immediately after filing.
Many people who are struggling to pay their bills try to hide it. Some may even go so far as to purposely adopt an extravagant lifestyle in public to mask the fact that they are struggling. Obviously, this only serves to make the problem worse.
Stops Creditor Harassment- If you’ve been struggling to make payments on loans, then you’re probably experiencing an increase in debt collection phone calls, emails, and letters. Immediately after filing bankruptcy, an injunction called an “automatic stay” is imposed to prevent creditor harassment. This injunction forbids those creditors from continuing any collection efforts. Creditors who attempt to collect debts after an automatic stay is imposed face strict consequences, so it’s important to hire an experienced Pueblo bankruptcy lawyer who can help you if your creditors continue to contact you after you’ve filed for bankruptcy.
Halts Repossession- If you’ve financed a vehicle and are behind on a few payments, you may be facing repossession. As soon as you file for bankruptcy, any creditor who has a secured interest in your car and wants to repossess it can no longer do so. It’s important to note that filing for bankruptcy won’t erase all debt to a car loan provider- filing bankruptcy will allow you to hold onto your vehicle until you can negotiate or modify your agreement with the lender, which usually means getting caught up on payments, or you can negotiate the surrender of the vehicle at a later date so you have time to replace your vehicle or find other means of transportation.
Halts Home Foreclosure- Just like the above section on bankruptcy halting the repossession of your vehicle, an automatic stay will also stall home foreclosure proceedings. Typically, bankruptcy won’t eliminate your delinquent mortgage payments, but it will buy you time to either catch up on your payments or come to an understanding with the mortgage holder.
Stops Wage Garnishment- Wage garnishment occurs when a court issues an order that requires your employer to withhold a portion of your paycheck and send it directly to a person or entity to which you owe money. Some people facing wage garnishment look to bankruptcy to regain control of their finances. Filing for bankruptcy stops most wage garnishment and also prevents creditors from seeking new garnishment orders against you. However, you should be aware that bankruptcy will not stop the garnishment of child support or other non-dischargeable debts, including alimony or some student loans.
Stops Judgements or Lawsuits- Throughout the bankruptcy process, federal courts protect debtors from any legal action that creditors may try to impose. If a lender decides to file a lawsuit against you, then filing bankruptcy will immediately stop the lawsuit. The automatic stay makes it illegal for a lender to pursue a lawsuit and makes any judgment obtained after your bankruptcy filing void. However, it’s important to note that filing for bankruptcy will not stop any criminal charges against you.
Wipe-out all Predatory Loans- When you’re behind on bills and need money fast, it can be easy to fall victim to predatory lending scams. If you’ve watched television or listened to the radio, then you’ve probably heard ads promising things like “no down-payments” “no or low credit scores welcome” or “quick and easy payday loans.” If it sounds too good to be true, it probably is, but that’s small comfort when you’re desperate. Especially insidious are payday loans, also commonly called cash advance loans, online advance loans, or check advance loans. These companies often tailor their advertisements and services to the most vulnerable, such as people with little to no income, or people who have no credit. Since these predatory lenders generally use unsecured debt- meaning, they don’t require collateral, filing for Chapter 7 bankruptcy can eliminate almost all types of predatory loans. An experienced Pueblo Chapter 7 bankruptcy attorney can help you figure out if your debts qualify for dischargement.
Erases Medical Debts- One accident, one misstep, one sudden illness, and suddenly you owe the hospital thousands if not millions of dollars you don’t have. While the state of Colorado won’t allow you to file bankruptcy solely to discharge medical debt, chances are good that if you’re struggling to pay high medical debts, your other bills are also in danger of falling behind on payments. Filing “medical bankruptcy” is a common misconception that many people who are considering bankruptcy have. But if you have significant debt, including unpaid medical bills, a Pueblo bankruptcy attorney can help you on the path toward easing that financial burden.
Prevent Loss of Utility Services- Services like electricity and water are a necessity. If you’re behind on utility bills and are in danger of having your services cut, filing for bankruptcy can allow you to halt a service interruption. Once again, it’s important to note that while bankruptcy may clear past utility debt- if you do not continue to make current or future payments, your utility services will be interrupted.
To get the most out of your bankruptcy case, you must seek the services of an experienced Colorado bankruptcy attorney. The bankruptcy process is one that should be taken seriously since it can alter your financial standing significantly. An attorney can change the outcome for the better. When thinking about if you need an attorney, reach out to our Pueblo bankruptcy lawyers for a free debt evaluation. We care about all of our clients and want to help you obtain a debt-free future.
The city of Pueblo has a rich history- legend has it that the earliest permanent building in Colorado was built in Pueblo by Zebulon Pike, a U.S. Army officer tasked with exploring the West to find the source of the Arkansas River. The current city of Pueblo, which is home to over 100,000 residents, represents the consolidation of four towns: Pueblo, South Pueblo, Central Pueblo, and Bessemer.
Located approximately 100 miles south of the capital city of Denver, Pueblo has a more desert-like landscape than the more commonly seen snow-capped mountains and green green grass pictures of northern colorado cities like Vail or Denver. Considered a high desert climate, Pueblo sees less than the state-wide average amounts of both rain-fall and snow-fall. It does, however, boast more sunny days than most other large cities in Colorado.
Nicknamed “Steel City” thanks to its unofficial title as one of the largest steel-producing cities in the United states, Pueblo has now shifted focus to more of a tourism-driven city, attracting travelers from all over with its renovated Riverwalk area. Visitors to the Riverwalk can enjoy the shops, breweries, and restaurants along the paved Arkansas River walkway or take a guided boat tour down the river.
Another popular activity that draws a lot of visitors to the city is the Pueblo Green Chile Festival. Held every September in Historic Downtown Pueblo, this weekend-long festival is a love letter to Pueblo green chiles, a locally grown delicacy. Similar to famous New Mexican hatch green chiles, Pueblo green chiles are hatch chile’s spicier cousin, used in a variety of dishes that can all be sampled at the festival.
If you’ve got bills longer than the Arkansas River piling up around you, you don’t have to try to take this on by yourself. Help is just around the river bend.
Our Pueblo bankruptcy attorneys will inform you of all of your debt-relief options, as well as represent your interests in court. Our job is to help move you from your current financial predicament towards a brighter future that is free of debt, and show you how to avoid facing a similar situation again. It all begins by calling me for a free consultation. Let one of our experienced legal professionals show you the options that you have moving forward, and explain how our firm can help you overcome the financial difficulties you face.
Filing for bankruptcy is not a straightforward process. Many people have actually lost assets through easy mistakes or trying to file without the help of an experienced Colorado bankruptcy attorney. Getting the right representation means that you are getting the best, most experienced, and knowledgeable attorney available to you to handle your interests so you can ease your debt and rediscover peace of mind.
If you’re ready to learn whether bankruptcy can provide relief for your situation and how it would affect your credit rating and your assets, take us up on our offer of a free consultation to discover the answer for yourself at no obligation to you.