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All posts by: wfoster

To Stop Creditor Harassment and Garnishments By law, the creditors must stop calling you once you have retained bankruptcy counsel or have filed bankruptcy. By hiring an experienced attorney you can transfer those unwelcome calls to the attorney’s office. Once...
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What is Bankruptcy? Bankruptcy is a form of debt relief provided under title 11 of the U.S. Code. There are two forms of consumer bankruptcy including chapter 7 and chapter 13. Chapter 7 is a liquidation bankruptcy. There is no...
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Sources of income: You must document all sources of your income for the seven calendar months prior to the month the bankruptcy case is filed. If you file in July, you will need all your paystubs from January 1st through...
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Some cases result in the surrender or liquidation of non-exempt assets. There are known as asset cases. In an asset case, the trustee sends notice to creditors advising them that they must file a claim by a certain deadline. In...
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After a debtor files for chapter 13 bankruptcy, the court schedules a confirmation hearing. If there are no objections to the debtor’s proposed chapter 13 repayment plan, the court will vacate the hearing and confirm the chapter 13 plan without...
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What happens to your home when you file bankruptcy depends on how much equity you have in the home and which chapter of bankruptcy you file. In a chapter 7 bankruptcy, your home is at risk of being liquidated if...
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If the equity in your home exceeds the exemption limit in Colorado, you may be at risk of losing your home by filing a chapter 7 (liquidation). In such cases, I recommend filing a chapter 13 (reorganization/non-liquidation). In most cases,...
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Bankruptcy Myths Collection agencies and creditors will often call debtors and allege that unsecured debts that have been reduced to judgments and credit card bills are no longer dischargeable in bankruptcy. These and other similar allegations made by debt collectors...
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Debt Settlement vs Bankruptcy You may have heard commercials from debt settlement companies promising to settle debts for pennies on the dollar or for low monthly payments. You should be skeptical about these claims. Many national debt settlement companies do...
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Chapter 13 Bankruptcy – How do Creditors get Paid? Secured Debts In most cases, you will make payments to secured creditors (e.g. mortgage, auto loan) outside of the bankruptcy just as you normally would. If you qualify, you may seek...
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