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Category Archives: Legal News

Chapter 13 Bankruptcy – How do Creditors get Paid?

Consumer Law Pro 2851 S Parker Rd, Ste 1158 Aurora Co 80014 Phone: 303-297-7729 Consumer Law Pro is designated as a Federal Debt Relief Agency by an Act of Congress and the President of the United States. We proudly assist consumers seeking relief under the U.S. Bankruptcy Code. A Member of the National Association of Consumer […]

Rebuild Credit During Chapter 13 Bankruptcy

Rebuilding credit takes time, but it won’t take as long most creditors would have you believe. It is also possible to rebuild your credit while in a chapter 13 bankruptcy. Before you can start rebuilding credit, your chapter 13 plan must be confirmed by the bankruptcy court and you must obtain permission from the chapter […]

HOA Fees and Bankruptcy

A bankruptcy will eliminate the personal obligation to pay the HOA for those assessments which came due PRIOR to the Bankruptcy being filed. The lien for the pre-petition dues remains a valid security interest in the property, despite the filing of the bankruptcy. After the filing date, the debtor will be personally liable for any […]

Dangers of using Petition Preparer to file your Bankruptcy

Dangers of using Petition Preparer (non-attorney) to file your Bankruptcy The United States Trustee recently filed a complaint against a non-attorney petition preparer for the negiligent handling of a client’s case. The trustee cited the recent increase in pro se filings that have resulted from individuals using a petition preparer to file their case. In […]

Why your mortgage servicer will not approve your loan modification request

In the past, a traditional mortgage lender would decide whether to foreclose or restructure a defaulted loan based on a cost-benefit analysis of available options. If the lender stands to make more money by modifying a loan than the lender would make on the home through a foreclosure sale, the lender would generally choose to […]

Debt Settlement

There are many commercials from debt settlement companies that promise to settle debts for pennies on the dollar or for low monthly payments. You should be skeptical about these claims. These ads and the national debt settlement companies are harmful to consumers. In some cases, it makes sense to settle your debt and Consumer Law […]

Should You Sign A Reaffirmation Agreement?

A reaffirmation agreement removes a secured loan from your bankruptcy discharge. You will remain personally liable for the loan after your discharge is ordered if you sign such an agreement. You have the right to rescind a reaffirmation agreement at anytime before your case is closed. Advantages of signing a reaffirmation agreement. Unless you sign […]

The Importance Of Choosing a Bankruptcy Attorney With a Good Reputation

When you are choosing a bankruptcy attorney, you should ensure that you are working with a reputed law firm or with a reputed bankruptcy lawyer. One of the reasons why people hire a Denver bankruptcy lawyer or a Colorado bankruptcy lawyer is to get professional assistance in ensuring the best possible outcome. It is therefore […]

Complaints Against Discharge

Complaints against discharge filed by creditors. There is no set dollar limit that will trigger a complaint against discharge, however, the potential for a complaint increases for those individuals with significant unsecured credit card debt. In the two cases in which complaints were filed against our clients (out of hundreds of clients) , the clients […]

Is it better to do a Loan Modification Before or After Filing Bankruptcy?

When a bankruptcy is filed, the mortgage servicer will transfer the file from the department it is in to the bankruptcy department. The bankruptcy department NEVER picks up where the other department left off. Therefore, if the modification is not final, then the debtors will need to start over from scratch. In the meantime, if […]

Should You Hire a Bankruptcy Attorney?

Is it Necessary To Hire A Bankruptcy Lawyer? Filing for bankruptcy is one of the most distressing times of one’s life. Bankruptcy is the last resort to deal with one’s overwhelming debt problems and this should be strictly sought only when there are no other options. When people do go for bankruptcy filing, they will […]

Marital Debt to Third Party Excepted From Discharge

Wodark, Glennette L; In re (Wodark v. Wodark) 20 CBN 648 (Bankr: 10th Cir: 2010). This case comes from the 10th circuit, in which Colorado is a member. A husband and wife obtained a divorce and listed a debt in their divorce papers the wife was to be solely responsible for. The wife filed a […]

May remove 2nd mortgage in Ch. 13 but not Ch. 7

Grano, Jospeh S. and Ann; In Re (Grano v. Wells Fargo Bank) 20 CBN 438 (Bankr. W.D.N.Y. 2010) The holding of Dewsnup v. Timm, 502 U.S. (1992) continues to bind chapter 7 debtors. The Chapter 7 debtors filed an adversary proceeding against Wells Fargo Bank N.A. The debtors alleged that their home was worth $445,000 […]

Foreclosure sale validated after bankruptcy

Stay annulled to validate post-petition foreclosure sale In this case the debtor was ineligible to be a debt under section 109(h)(1) of the bankruptcy code. This did not render her bankruptcy a nullity, however, her failure to act in good faith warranted the annulment of the automatic stat and the validation of the post petition […]

Personal Bankruptcy Filings Increased 17% last year

A growing number of people filed for bankruptcy protection in Colorado in 2010, while the number businesses filing bankruptcy declined for the first time in four years. Rising unemployment rates, heavy consumer debts and a weak housing market all contributed to the number of personal bankruptcy filings. Personal bankruptcy filings increased 17.2 percent, to 31,160, […]

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