George T. Carlson & Associates

Should I File?

Your Attorneys for Skilled Bankruptcy Advice

The decision to file bankruptcy is never an easy one. Most people would prefer to find another way to get out of debt, since bankruptcy can have long-term consequences for your credit. At the same time, alternative debt management programs may not be right for you and may end up getting you in further trouble.

At George T. Carlson & Associates in Englewood, Colorado, our attorneys are highly experienced at counseling clients on their debt relief options and the advisability of bankruptcy. Contact us to schedule a free initial consultation with one of our knowledgeable bankruptcy lawyers.

Assessing Your Individual Circumstances

Due to the federal bankruptcy law amendments that were adopted in 2005, you are now required to attend a credit counseling session before you can file for bankruptcy. A credit counselor will explore whether there is some way for you to resolve your debts other than bankruptcy.

You should also seriously consider your options with regard to the two primary types of bankruptcy, Chapter 7 and Chapter 13. Among the factors to consider are the following:

• Your presently owned assets
• Your current income and expenses
• Your past income
• Your business history
• Your marital status
• The status of your children, family members and household members
• Your debt accumulation history
• Your history of payments to creditors
• Your history of court actions
• Your history of garnishment, repossession, foreclosure and other collections
• Your history of gift-giving and transferring assets
• An accounting of any property you are holding for third parties

Our bankruptcy lawyers will assess all of these factors and give you valuable advice based on many years of experience.

Considering the Timing of Your Filing

If you decide to file for bankruptcy under either Chapter 7 or Chapter 13, the next step will be to decide when to file. If a foreclosure, repossession or garnishment action is looming, this can affect the appropriate timing of your filing. Other issues, such as whether you have filed bankruptcy before or whether you are going through a divorce, can also have an impact on timing.

If you are asking yourself, "should I file?", our attorneys can help you make an informed decision. Contact us today.

At George T. Carlson & Associates, based in Englewood, Colorado, we represent clients throughout Colorado, including Denver metro, and the cities of Aurora, Centennial, Denver, Greenwood Village, Highlands Ranch, Littleton and Lone Tree; and Adams County, Arapahoe County, Denver County, Douglas County, Elbert County and Jefferson County.