Avoid Eviction With the Help of Wink & Wink, Denver Bankruptcy Lawyers
The COVID-19 pandemic has caused financial hardship for many Colorado residents. Job loss, staggering medical bills, and the financial challenges that come from a family member’s death or illness have led many Coloradans to need debt relief.
In some cases, these challenges have caused people to get behind on rent, and many residents now have to contend with the worry of being kicked out of their homes.
Unemployment benefits may have eased the burden, but that money may not be enough. Many residents are unsure what to do once those benefits end if they are still unable to obtain sufficient employment.
The federal government and the state of Colorado have enacted eviction moratoriums and other relief packages to assist Colorado residents struggling with rent payments. This includes the Emergency Housing Assistance Program, which helps renters pay rent during the COVID-19 pandemic. These have helped renters avoid being evicted from their homes during the pandemic. However, once these moratoriums end and unemployment benefits run out, many Coloradans face the possibility of eviction.
Some landlords may be lenient on late rent payments. Some may be open to compromises or payment plans to help you pay off that debt.
However, some won’t.
If you’re facing overwhelming debt, it may be time to consult a Denver-based debt settlement and bankruptcy lawyer to explore your options. Wink & Wink are a husband-and-wife bankruptcy law firm in Denver, Colorado. They’ll provide a free consultation to review your situation and see if bankruptcy is the most cost-effective option to help you get debt help.
First, it’s important to understand the two different types of personal bankruptcy, Chapter 7 and Chapter 13.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy erases most of your unsecured debts. This often includes debt from such things as leases, credit cards, and medical bills. You are then not required to pay back balances.
What Is Chapter 13 Bankruptcy?
Whereas Chapter 7 bankruptcy erases most unsecured debts, Chapter 13 bankruptcy includes a three- to five-year payment plan that covers a portion of your debt, while discharging the remainder.
Which Bankruptcy Is Right for You?
It can be hard determining the right bankruptcy option. It’s important you consult a debt settlement attorney. Mike and Gigi Wink have more than 10 years experience helping Colorado residents get debt relief and avoid eviction, wage garnishment, repossession, and other difficult situations. Both received their J.D. from the University of Colorado at Boulder and are members of the National Association of Consumer Bankruptcy Attorneys.
Steps to Filing for Bankruptcy
After you’ve retained Wink & Wink for your personal bankruptcy, there are a few steps you’ll need to take:
- Start referring creditor calls to Wink & Wink rather than handling them yourself.
- Begin preparing the documents you’ll need to file for bankruptcy.
- Six months of bank statements and pay stubs.
- Two years of tax returns.
- Statements from creditors.
- A list of all properties, including the value of each property.
- Stop paying rent, credit card debt, and other unsecured debt. This will help free up money to pay the fees due to Wink & Wink.
- After receiving your completed bankruptcy documents and fees owed, Wink & Wink will begin preparing your case, which includes meeting with you and signing the bankruptcy paperwork before it’s filed with the Colorado Bankruptcy Court.
- Complete the credit counseling course, which can be done online or over the phone. This typically takes one to two hours.
- File the bankruptcy paperwork with the Colorado Bankruptcy Court.
After the Bankruptcy Paperwork Is Filed
- You are now protected from any creditors trying to take action on your personal property, wages, and bank accounts. A temporary stay will be put into place by the court, stopping the landlord from evicting you. Creditors are also forbidden from contacting youl. If creditors break this rule, Wink & Wink can sue them for damages.
- Approximately, four to six weeks after you’ve filed the paperwork, you’ll be required to attend a meeting of creditors, where you’ll answer questions while under oath. This meeting takes place in front of the Bankruptcy Trustee. Wink & Wink will prepare you for this and attend the meeting alongside you in case any issues occur.
What Comes Next After the Meeting?
What comes next depends on if you filed for Chapter 7 or Chapter 13 bankruptcy.
If you filed for Chapter 7 bankruptcy, creditors will have 60 days after the meeting to file objections to your case. Objections are rare. You’ll also have 60 days to add any creditors that you may have missed in the filing. You’ll also be required to take a financial management course, which can be completed online. Discharge of your debt typically occurs after the objection deadline has passed.
For Chapter 13 bankruptcy cases, objections are normal. If there are any, a confirmation hearing will be scheduled. Wink & Wink will help you resolve any objections. That’s why an experienced Denver bankruptcy lawyer is essential. Once any objections are resolved, you’ll have 30 days to begin payments for your repayment plan. The repayment period lasts from three to five years. You’ll also be required to take a financial management course, which can be done online. When your payments and the course are complete, you will receive a discharge. If any issues occur along the way, Wink & Wink will still be there to help, such as filing for a modification of your repayment plan due to any financial changes that occur.
After the Discharge
Once you’ve been discharged, you can begin a fresh start. You are now free from the debts discharged in your bankruptcy case.
Denver Debt Settlement Attorney
Contact us for a free consultation so we can help you get the help needed to choose the right bankruptcy option, complete the paperwork, resolve any objections from creditors, and get you back on your feet. Call Wink & Wink at 303-410-1720, or contact us online to begin getting this important help.