Understand your rights about discrimination by debt collectors while declaring bankruptcy in Denver

1. Understand your rights about discrimination by debt collectors while declaring bankruptcy in Denver File for bankruptcy in Denver, Colorado, if you are having trouble making your mortgage payments, wage garnishments, tax liens, foreclosures, or debt. This will help you get your finances back on track. In the United States, the majority of individual bankruptcies are filed under either Chapter 7 or Chapter 13. The majority of your unsecured debts, including credit card and medical expenses, are discharged in Chapter 7 bankruptcy. If, however, you own nonexempt assets, such a second home or investments like stocks and bonds, you will have to sell them off to pay off some or all of your unsecured debts. However, your expert bankruptcy attorneys at Recovery Law Group can assist you in repaying none of your unsecured debt if you only own exempt items, such as household goods, and have no significant assets. For filing bankruptcy Denver, you must pass the Means Test. It can be suggested that you file for bankruptcy under Chapter 13, sometimes referred to as a Wage Earner's plan, if you are not eligible for Chapter 7. With this bankruptcy option, people and companies who have steady revenue streams can arrange a manageable debt payback schedule. You and your creditors will collaborate with a court-appointed trustee to develop a repayment plan that will give you three to five years to pay off your outstanding obligations. You will be able to keep your property, including nonexempt property, in return for repayments.

2. Your eligibility for bankruptcy under Chapters 7 and 13 Creditors cannot pursue collection efforts under Chapter 7 or Chapter 13 bankruptcy, nor may they practice debt collectors discrimination after filing bankruptcy in Denver. Under the Equality Act, which mandates that service providers consider your handicap when providing services to you, your debtors are not allowed to practice debt collectors discrimination against you in any way. This implies that they might need to modify their strategy to ensure that your disability does not disadvantage you. As a result, they might need to make some fair changes; if they don't, it will be viewed as illegal discrimination by debt collectors. Legal safeguards against discrimination by debt collectors Congress created the Equal Credit Opportunity Act (ECOA) in 1989, which mandates that all credit applicants be evaluated on the basis of their actual credit credentials rather than specific personal traits. Basic protection from discrimination by debt collectors against debtors that habitually give credit, such as banks, credit unions, small loan and financing organizations, is offered under the Equal Credit Opportunity Act (ECOA). You are not entitled to discrimination from lenders based on your gender, marital status, race or color, religion, or country of origin. Additionally, since you receive all or part of your income from a pension, part-time work, or public assistance, they are not allowed to treat you unfairly. Additionally, they are not allowed to phone you at odd times or on behalf of unapproved parties like your employer or relatives. You can always speak with the knowledgeable bankruptcy attorneys at Recovery Law Group if you feel that you are being treated unfairly, that you are a victim of debt collectors' discrimination, or if you are not sure if your debtors' actions are lawful or not. The knowledgeable attorneys will manage your rights under the Fair Debt Collection Practices Act (FDCPA) and ECOA and help protect you from debt collectors' discrimination.