Chapter 7 Bankruptcy: How a Denver Bankruptcy Attorney Can Help
Often referred to as “liquidation bankruptcy,” chapter 7 bankruptcy involves the sale of a debtor’s property and the distribution of said assets to the owed creditors. The result for the debtor is the complete cancelation of his or her debts. Although this could mean the loss of the debtor’s home and an ensuing struggle with the Denver rental market, it also allows for a fresh start, completely free of debt.
How Can a Denver Bankruptcy Attorney Help?
In spite of the risk of asset loss, many Denver residents are eager to resolve their ongoing debt problems through liquidation bankruptcy. Unfortunately, this approach is not viable for many debtors. In 2005, changes to the Bankruptcy Code made it more difficult for the average Denver resident to file for this type of bankruptcy.
Due to these complexities, it is in your best interest to contact a Denver chapter 7 bankruptcy attorney; the assistance of Wager Law Office, P.C. will increase the likelihood of your eventual approval.
How Chapter 7 Bankruptcy Works In Denver
The filing process begins with a free consultation at the Wagner Law Office’s Denver location. During your consultation, you will share your unique circumstances with your attorney, who will then determine whether chapter 7 constitutes the ideal approach.
If your attorney feels that this is an ideal option, the two of you will work together to prepare and file your case. From there, you will be assigned a trustee and asked to appear in court. Once the court arrives at a decision regarding asset distribution, the trustee will oversee this process.
The main purpose of chapter 7 bankruptcy in Denver is to obtain a full discharge of your debts. Your Denver attorney at Wagner Law Office, P.C. is eager to help you achieve this goal. Free consultations are available. Schedule an appointment online or call the Denver office with any questions.