In today’s uncertain economic times, it’s can be challenging to pay living expenses along with trying to catch up on past due bills. This plus factors such as unemployment and divorce can lead people down a road that leads to heavy debt with no end in sight. If you find yourself heading down this path, you can find a new lease on life by Filing Bankruptcy Colorado Springs. This legal status is meant to help people or business entities that can’t repay their creditors.
When you file for bankruptcy, a qualified bankruptcy attorney will assist you will the process. Since most of the process in filing for bankruptcy takes place away from the courthouse, it’s essential to have an experienced attorney you can count on to help you with administrative part. Once the paperwork is filed, and your case is reviews by a bankruptcy judge, you may qualify for a repayment plan or a plan that entails liquidating part of all of your assets to help past past due bills. In addition, some bankruptcy cases provide for the reorganization of bills so at least a portion of each is paid.
Bankruptcy laws are enacted under the authority granted to Congress in Article 1, Section 8 of the United States Constitution. It mandates laws that are fair and uniform in nature. This means that a person applying for bankruptcy in Wisconsin will follow a process similar to a person filing for bankruptcy in Texas. The Bankruptcy Code was passed by Congress in 1978. This law is title 11 of the United States Code and governs all bankruptcy cases. This section of the United States Code, the Federal Rules of Bankruptcy Procedure, and the local rules of each federal bankruptcy court dictate how each case is carried out and provides the guidelines for cases to be judged by.
Filing Bankruptcy Colorado Springs is an effective way for people to get a new start in life. You can do this also by gathering the proper information before you visit your attorney for the first time. With his help, you can successfully navigate the legal system to get your life back on track. Armed with this information, please Visit the website of our law practice.