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Bankruptcy Lawyer in South Metro Denver

Many of our clients have heard of chapter 7 and 13 bankruptcies, but are not sure of the difference between the two. There are significant differences and understanding them is vital in order to make the decision to file bankruptcy. Benham Law, Inc. will help explain these differences and analyze your unique situation to advise you on the appropriate chapter to file. We’re committed to helping our clients by providing compassionate, thorough, and diligent legal services as they navigate the bankruptcy process. Learn more about bankruptcy below.

Our Chapter 7 Bankruptcy Lawyers Help You Start Over

While Chapter 7 can be the quickest, most painless chapter of bankruptcy, not everyone qualifies for such. Benham Law, Inc. can help determine whether you qualify for a chapter 7 based on income means testing.  Chapter 7 bankruptcy is a liquidation bankruptcy.  This means that your bankruptcy trustee will administer your case and determine if there are any non exempt assets to liquidate for the benefit of your creditors.  A Chapter 7 Bankruptcy can discharge most unsecured debts including credit cards, medical bills, foreclosures, repossessions, and even certain tax debts.  At Benham Law, Inc we will analyze your unique financial situation to determine which chapter of bankruptcy best fits your needs.

Chapter 13 Bankruptcy Reorganizes Your Debts

Chapter 13 is similar to Chapter 7 in that it results in the discharge of most of your debts.  Unlike Chapter 7 however, you will be required to make monthly payments in Chapter 13 according to your chapter 13 plan.  Your plan payments depend on your financial situation including your income, your assets, your debt, etc.  Chapter 13 bankruptcy can allow you to catch up on mortgage or car loan arrears and avoid foreclosure or repossession.  You can even pay income tax debt through a chapter 13 plan, without accruing any new penalties or interest.

Understanding the Finer Points of Chapter 7 and 13 Bankruptcies

There are many other differences between chapter 7 bankruptcy and chapter 13 bankruptcy. There are also many reasons a person would benefit from one chapter over another. Our South Metro Denver bankruptcy lawyer can help you sift through these issues and decide on a bankruptcy option that makes the most sense for you.

Contact Benham Law, Inc.’s Bankruptcy Lawyers

Benham Law, Inc. takes great pride in providing our clients with expertise and respect.  Our bankruptcy lawyers are well versed in all aspects of bankruptcy.  We guide our clients through either chapter of bankruptcy and help them obtain bankruptcy discharge and financial freedom.  Reset your life by giving our South Metro Denver lawyers a call today or get in touch with us through our contact form.