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  • Colorado Bankruptcy Process: The Do’s and Don’t

    Bankruptcy is one of the life changing decisions in an individual life’s. Socially, such a step is viewed with negative perspective, but for many families it is a salvation because they are not being capable to meet the ends any more. In Colorado seeking bankruptcy is not at all a social stigma because a record number of residents are seeking bankruptcy protection thanks to huge levels of credit card debt, unsecured loans with predatory interest rates, rising cost of medical care as well as high unemployment level. A successful bankruptcy can put stop on foreclosure, collection calls, garnishment of wages, eliminate medical bills and protect retirement fund. However, it is also important to maintain certain do’s and don’ts during Colorado bankruptcy process.
    The Do’s
    Ensuring that all assets are included during bankruptcy filing is very important to avoid Colorado bankruptcy fraud. Failing to list any property is considered fraud and you might be in great trouble. Thus, before finally submitting the bankruptcy related papers check and double check that your properties are listed.
    Secondly, make sure that you have included all your debts or otherwise even after successful filing of bankruptcy you would remain liable for these debts.
    Consulting an experienced bankruptcy attorney is very important for successful filing and without wasting any time contact a good lawyer to schedule a free phone consultation immediately.
    Follow the steps and advices given by your lawyer. Remember each case of bankruptcy is unique and most important depends on the individual situation. Thus, an experienced lawyer will guide you to right path.
    The Don’ts
    While filing for bankruptcy it is very important not to make any major financial moves at least not without consulting your attorney. The court views bankruptcy filing as a responsible step that you can’t pay your debts anymore. Even after knowing that one is unable to pay back many continues to accumulate further loans. This aspect must be avoided.
    Don’t use credit card or write any checks that you might not be able to recover. It is also highly advisable not to make any preference payments to family members or others or give away any property.


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    E. Florida, Suite 400, Denver, CO 80222


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