Chapter 7 Bankruptcy Attorney Near Me
Chapter 7 bankruptcy is always a touchy subject. On one hand, chapter 7 lawyers will help you discharge your debt. On the other hand, a chapter 7 discharge of debt also includes losing all of your assets. In addition, finding a chapter 7 bankruptcy attorney near me can be difficult. But if you need a foreclosure lawyer in Douglas County, CO, we’ve got your back.
At the Vargas Law Firm, we’re committed to being top-rated chapter 7 lawyers for our clients. In addition, our founder, Erica Vargas, is a skilled foreclosure lawyer. In fact, chapter 7 discharge is one of her specialties. Therefore, if you need a chapter 7 bankruptcy attorney near me in Douglas County, CO, look no further than the Vargas Law Firm.
Attorney Vargas is a premier chapter 7 bankruptcy attorney near me in the following areas:
- Denver, CO
- Highlands Ranch, CO
- Commerce City, CO
- Lone Tree, CO
- Arvada, CO
- Aurora, CO
- Douglas County, CO
- Arapahoe County, CO
- Englewood, CO
- Parker, CO
The Vargas Law Firm, PC
Chapter 7 Lawyers
Chapter 7 bankruptcy involves liquidating all of your assets in order to pay off your creditors. In other words, it means selling all of your possessions and paying off what you can. To do this, you usually need to hire a chapter 7 bankruptcy attorney near me. At first glance, bankruptcy may seem like a bad idea. If you declare Chapter 7 bankruptcy, you could lose everything including your house, car, and other property. Additionally, declaring chapter 7 bankruptcy is a bit of a taboo in the US.
However, for chapter 7 lawyers, it’s not. If you have mounting debt that you can’t pay, declaring bankruptcy can actually be helpful. That’s because when you declare bankruptcy, you no longer owe anyone any money. For example, say you owe $1 million to creditors. However, your income is less than the interest. In addition, you only have $250,000 in assets. In this situation, you will never be able to pay your debt. However, if you declare bankruptcy, you lose $250,000 and get rid of $1 million in debt. Essentially, you just made $750,000. It’s a little more complex than that, but that’s the basic idea. But in order to do this right, you need to hire a chapter 7 bankruptcy attorney near me like Erica Vargas. Chapter 7 lawyers can help you fill out the necessary paperwork and meet crucial deadlines in the bankruptcy process.
Chapter 7 Discharge
Chapter 7 discharge of debts happens once all of your assets have been sold. As a result, you don’t owe anyone any more money. “Discharge” means that your debt disappears. However, there are still some serious repercussions to a chapter 7 discharge. First, your credit will take a serious hit. It’ll be difficult to secure lines of credit for a few years into the future. Second, some debts cannot be discharged in bankruptcy, such as student loans. Therefore, it’s always a good idea to consult a chapter 7 attorney near me to see if bankruptcy is a good idea for you. And if you need an attorney in Douglas County, CO, look no further than the Vargas Law Firm.
The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. The Vargas Law Firm, PC looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and The Vargas Law Firm, PC.