Denver, Colorado Chapter 13 Bankruptcy Attorney
Are you losing sleep over your debts?
Receiving harassing phone calls?
Have a garnishment or foreclosure looming in your future?
Are you considering filing for bankruptcy?
Many people believe the recent bankruptcy reforms prohibit them from filing for bankruptcy protection. On the contrary, the bankruptcy reform act was an attempt to prevent bankruptcy abuse and to have creditors who could afford to pay some of their debts do so, i.e., to force those who could afford to pay a portion of their debt file a Chapter 13 bankruptcy rather than a Chapter 7 bankruptcy.
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Why should I choose a Chapter 13 bankruptcy?
A Chapter 13 bankruptcy is sometimes referred to as an individual reorganization bankruptcy, and is a tool to allow you to pay your debts at better terms, i.e., reduced interest and often at a discounted amount. The payments are typically for a period of three years, but may be extended to five years.
Chapter 13 allows you to keep all your assets, and work out a payment plan that is affordable and fits within your budget, and forces creditors to accept the repayment terms. Of course, there are threshold amounts you would need to pay, based on your income, the amount of debt, and the nature or character of the debt. Typically, you would pay between 10% and 100% of your debt. A Chapter 13 bankruptcy stops foreclosure proceedings, repossessions, and debt collection efforts, including those annoying, and often harassing, phone calls from creditors and collection agencies.
Some debts that are not dischargeable under a Chapter 7 bankruptcy, may be included in a Chapter 13 bankruptcy, including taxes and child support payments. However it is important to know that while child support and spousal support obligations may be included in the repayment plan, filing for Chapter 13 bankruptcy does not dismiss obligations to pay child support or alimony.
A qualified Chapter 13 bankruptcy lawyer can assist you in determining whether filing for debt relief under Chapter 13 bankruptcy is the right option for you.
Payment of Child Support and Alimony Payments in Chapter 13 Bankruptcy
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) grants priority status to domestic support creditors and provides that domestic support arrearages are to be paid in full before the debtor can get a discharge. Domestic support obligations (DSOs) include child support and alimony payments. If the debtor does not stay current on child support or alimony payments, there may be grounds for dismissing the debtor's Chapter 13 repayment plan.
Providing Domestic Support Creditor Representation to Parents
Refusing to pay domestic support (child and spousal support) can be grounds to dismiss the current payment plan. If your child's other parent is not paying the agreed amount of child support, we can ask for relief from the automatic stay in a Chapter 13 bankruptcy proceeding. You can then bring your case in state court in order to collect the money that is owed to you for past due child support or alimony.
To learn more about Chapter 13 bankruptcy, please visit our Bankruptcy Information Center or contact our Denver law office.
Harold Faletti, Attorney at Law, serves clients in and around the greater Denver, Colorado, area, including the cities of Broomfield, Northglenn, Thornton, Arvada, Westminster, Lafayette, Eastlake, Brighton, Louisville, and Erie, and Boulder County, Jefferson County, Weld County, and Adams County.
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Contact Harold Faletti, Attorney at Law
26 Garden Center, Suite 3B
Broomfield, CO 80020
Phone: 303-438-8477
Fax: 303-438-6570
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
