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Know your rights against debt collectors discrimination while filing for bankruptcy in Denver

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 a Wage Earner’s plan. This bankruptcy option allows individuals as well as businesses with a consistent income to create a workable debt repayment plan. A court-appointed trustee will work out a repayment plan in consultation with your creditors and you, wherein you will be given three to five years of time to repay your outstanding debts. In exchange of repayments, you will be allowed to keep your property, including nonexempt property.   


Your eligibility for Chapter 7 and Chapter 13 bankruptcies   

Under both, Chapter 7 and Chapter 13 bankruptcies, creditors will be prohibited from continuing with their collection activities, and also debt collectors discrimination once have completed filing bankruptcy Denver. Your debtors are prohibited from carrying out any debt collectors discrimination against you under the Equality Act that requires service providers to take your disability into account when dealing with you. This means, they may have to change their approach so that you are not disadvantaged by your disability. So, they may have to do some reasonable adjustments, and if they fail to do so, it will be considered as unlawful debt collectors' discrimination.  

Legal protections against debt collectors’ discrimination   

Equal Credit Opportunity Act (ECOA), passed by Congress in 1989, requires that all credit applicants, should be considered based on actual qualifications for credit, and not certain personal characteristics. ECOA provides basic protection against debt collectors discrimination from the debtors that regularly extend credit, including banks, small loan and finance companies, and credit unions. Lenders cannot discriminate you on the basis of gender, marital status, religion, race or color, or natural origin. They are also prohibited to discriminate against you as some or all of your income comes in the form of public assistance, part-time employment, or pension. They are also prohibited from calling you at unusual hours, or unauthorized third parties, such as family members and the employer.   

If you think that you are unfairly treated, and are a victim of debt collectors' discrimination, or unsure whether the actions of your debtors or legal or not, you can always consult specialist bankruptcy lawyers at Recovery Law Group. The expert attorneys will help save you from debt collectors discrimination, and administer your rights under the Fair Debt Collection Practices Act (FDCPA), and ECOA.   

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