Denver Bankruptcy Attorneys - Law Office of Andrew McKenna

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    Contact us today at 303-730-8819, or use our CONTACT PAGE to request your free Telephone Consultation with Andrew F. McKenna, The Bankruptcy Attorney.

  • Bankruptcy Facts

    Colorado Bankruptcy Facts

    Fact #1: There are alternatives to Colorado bankruptcy

    You have rights under Colorado state law and federal law in regards to the repayment of your debts. You may be able to avoid bankruptcy altogether by pursuing your rights under the Fair Debt Collection Practices Act (FDCPA). Bankruptcy is not the right answer for everyone, and the FDCPA has helped many people avoid the need for bankruptcy, and even pay some of their debts off with the proceeds from their FDCPA settlements.

    Additionally, Consumer Credit Counseling Services of Denver (there is one for each city) is well respected and may be able to help you if you have the ability to pay your debt. Beware of Internet-based credit counselors. Many of our clients have been ripped off when these companies take their money, but do not settle any of their debts. Some of these organizations are under investigation by the IRS and FTC.

    Fact #2: You can save big $ on your car loan through Colorado Bankruptcy

    United States Bankruptcy Code Section 722 allows you to keep your car by just paying your bank the current wholesale value. US Bank funds these “redemptions.” You can visit or call toll-free at 1-888-278-6121 right now and find out more about how it works, if you qualify, and how much lower your payments would be if you redeem through your Colorado Bankruptcy. If you are going to redeem, you should stop making payments to the old bank once your bankruptcy is filed. After your redemption is approved by the judge, you will start making the lower payments to US Bank.

    Fact #3: Most people keep all their property

    The bankruptcy code provides for you to keep your home, cars, furniture, appliances, employer sponsored retirement, and other essentials that you need to get your fresh start. In general, fears of losing property are overblown by the credit industry.

    Fact #4: There is credit after bankruptcy

    We hope you will not go into bankruptcy with the intent of getting back into debt. In particular, you should refuse all offers of credit cards and just use a debit card instead. But, if you want to buy a home or car after filing, you will probably be pleased. We have had many clients purchase a home within 2 years of filing Colorado bankruptcy. In addition, credit card and car companies will be asking you to borrow from them as soon as you have filed the bankruptcy. Sounds hard to believe, but you are a good risk after bankruptcy, because you have wiped out your debts (Chapter 7), and now you have greatly reduced your monthly obligations. You have more money available to pay the creditors again.

    Fact #5: Your banks may want you to file bankruptcy

    Banks make money both ways. They earn big interest and late fees before you file bankruptcy. After you file bankruptcy, they can write off the loss on their taxes. What they do not want you to do is stop paying your debts or using credit and “live off the books.” Banks often force debtors into bankruptcy with a lawsuit or garnishment. They would rather write off the loss and then try to get you back into the credit culture. We hope you will choose not to use credit cards, and will live on a “cash basis” after your bankruptcy.

    Fact #6: You are not alone

    Each person going through bankruptcy tends to feel like the “Lone Ranger.” Do not! In Colorado alone, over 30,000 people filed bankruptcy in 2005. Doubtless, several of your friends, coworkers, and neighbors have filed — they just do not advertise it. Also, many famous individuals and big companies have gone bankrupt, including Hollywood director Francis Ford Coppolla, hotel founder Conrad Hilton, retailers James “J.C.” Penney and Sam Walton (before he founded what is now the largest company in the world, Wal-Mart), mogul Donald Trump, the Iowa-based McLeod company, and Continental Airlines. There is absolutely no reason to feel guilty about filing bankruptcy, especially if you use it as an opportunity to provide future financial happiness and security for your family. Sometimes bankruptcy is your best financial decision in order to stabilize and build your future.


    We have two convenient Denver area locations: Our north metro office in Northglenn, and our South metro office near Colorado & I-25. Our attorneys proudly represent clients throughout Central, Southern, and Northern Colorado, including the communities of Denver, Lakewood, Littleton, Thornton, Aurora, Colorado Springs, Boulder, Greeley, and Ft. Collins.


    20 Years of Experience
    NACBA Member
    Only represents consumers
    BBB Accredited, A+ Rating

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    North Metro Denver Office – 11154 Huron
    St. Northglenn, CO 80234

    South Metro Denver Office – 3801
    E. Florida, Suite 400, Denver, CO 80222


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