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All posts by: wfoster

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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What happens to mortgages in bankruptcy? It  depends on which chapter of bankruptcy you file under and what your intentions are. Chapter 7 If you file a chapter 7 and you want to keep the home, you will continue making...
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Can I defend against a deficiency balance on an auto loan? Did the creditor provide you the required notices as provided by Article 9., C.R.S. § 4-9-611-616.? An attorney can assist in determine whether the notices complied with the law....
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Repeat Bankruptcy Filings: How Often Can you file? An attorney will look-up your previous bankruptcy filing to verify the date. The timelines start with the date of filing not the date of discharge. Waiting Periods Apply to Discharge First, some...
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Rebuilding Credit After Bankruptcy It is possible to rebuild your credit within two years after filing bankruptcy if you are proactive about it. Although the bankruptcy will still show on  your credit well after two years, it is just one...
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Discharge Tax Debts in Bankruptcy Many clients are dealing with significant tax debts. Filing bankruptcy may help resolve these debts. Chapter 7 and Tax Debts Certain tax debts may be discharged in a chapter 7. At a minimum, the applicable...
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What if my spouse doesn’t file bankruptcy with me? It is common for married individuals to file bankruptcy without including their spouse in the petition. An individual bankruptcy will not affect your spouse’s credit. Your credit profile is attached to...
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