Forget “credit counseling” agencies: We settle many debt collection cases for pennies on the dollar. Don’t want to “settle” and want to go to trial? In most cases, legal defenses are available!
Are you being sued for another reason (something other than an unpaid debt)? Or do you need to file a case against someone? We offer FLAT FEES for trials of county court cases. No out of control hourly rates.
HOW IT WORKS: When you are sued in a Colorado county court, the process server will give you a separate document called a “summons.” On the Colorado county court summons, there is a date by which you must appear in court or you automatically lose without a hearing. This date is commonly referred to as a “return date” on the summons. If you hire a Colorado trial attorney, your Colorado attorney will appear before the county court and file an answer to the county court complaint (the lawsuit) on your behalf before the “return date” then the case will get set over for a hearing at a later time. This buys you a couple of months or even more to reach a settlement with the creditor.
CREDIBILITY IS THE KEY: Once the creditor sees our law firm’s name on the answer filed with the court, the creditor immediately knows that it must negotiate with us or the next notice the creditor might receive is a bankruptcy notice. Even if you do not intend to file bankruptcy, our reputation as Denver debt-relief trial attorneys will help motivate the creditor to take a settlement offer. The creditor knows that if a bankruptcy is filed, the creditor may well receive no money at all.
TAX CONSEQUENCES: You may worry that if a large portion of your debts are written off, you will receive a Form 1099 and a tax assessment from the IRS. This concern is well-founded. However, receipt of a Form 1099 does not necessarily trigger a taxable event if you are legally insolvent. Generally speaking, this means if your debts exceed your assets and you are not financially solvent, forgiveness of debt is not taxable even if you do receive a Form 1099. Determination of your insolvency and the proper treatment of any Forms 1099 you receive is a determination your tax accountant can make for you.
CAN’T AFFORD TO SETTLE? Depending on your circumstances, Chapter 7 bankruptcy might be an option. In many cases, Chapter 13 bankruptcy is a better option. Contrary to popular belief, Chapter 13 does NOT mean you have to repay all of your debts.
Morris Law Office serves clients from the Denver area and the cities of Larkspur, Fort Collins, Greeley, Longmont, Boulder, Brighton, Broomfield, Castle Rock, Westminster, Arvada, Lakewood, Aurora, Centennial, Littleton, Englewood, Golden, and Northglenn, and throughout Denver County, Adams County, Douglas County, Weld County, Arapahoe County, and Jefferson County.