Recovery Law Group

If you are struggling with debt, wage garnishments, tax liens, foreclosures, or mortgage payments, filing bankruptcy Denver in Colorado could be the right option for you that will help you put your finances back on track. Most of the individual bankruptcies in the USA are filed either under Chapter 7 or Chapter 13. Chapter 7 bankruptcy will discharge most of your unsecured debts, such as credit card bills and medical bills. However, you must liquidate your property to repay some or all of your unsecured debts if you have nonexempt assets, such as a second home, or investments like stocks and bonds. However, if you have no valuable assets and only exempt property, such as household goods, your specialist bankruptcy attorneys at Recovery Law Group can help you in repaying no part of your unsecured debt.    For filing bankruptcy Denver , you need to pass a Means Test. However, if you do not qualify for Chapter 7 bankruptcy, you may be advised to file for it under Chapter 13, also known as

Declaring bankruptcy is a major decision but it does provide a legal method to eliminate or at least reduce debt when it piles up beyond your capacity to repay them . Additionally, it also immediately stops all collection activities and calls by the creditors as soon as you file for bankruptcy. It should be viewed as the last resort when all other potential courses of action are exhausted. It’s a myth that credit counseling is a better option compared to affordable bankruptcy in San Antonio, Texas. It can sometimes be a better option if you could manage your debts by tweaking your budget, and the total amount you owe is small. The credit counselor will call your creditors and negotiate a lower in terest rate, or reduce monthly payments. However, if your debts have become too unwieldly, credit counseling will only dela y the inevitable bankruptcy.      Y ou need to have bankruptcy consultation Los Angeles , California, to know whether bankruptcy should be the right option , and