In general, a bankruptcy can eliminate the legal obligation to pay all of your debts in full. It can stop or slow down a foreclosure, prevent the repossession of a car, and sometimes stop garnishments on your income. Consumers typically use bankruptcy protection as their last legal option during difficult financial times. There are two types of personal bankruptcies, Chapter 7 and Chapter 13.
If financial hardship has forced you to look at personal bankruptcy protection, mpowered provides both courses required by the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act: the Credit Counseling session before you file and the Debtor Education course before your case is discharged.
Since 2005, mpowered has helped more than 20,000 Colorado families fulfill these requirements. We've also found creative alternatives for many families, enabling them to avoid bankruptcy. Mpowered does not decide whether or not you can file for bankruptcy protection, but we do help you navigate the process.