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All posts by: wfoster

Assets you may lose in a chapter 7 bankruptcy

You will retain most assets  Most cases are no asset cases meaning the trustee did not collect any money or liquidate any assets of the debtor. Although most debtors have some non-exempt assets, the value is often too low for...

Choosing a bankruptcy lawyer

Bankruptcy is the legal process of discharging your debts (chapter 7) or reorganizing your finances (chapter 13). When done correctly, it can help you shed debt and achieve a fresh start. But bankruptcy is not something that you should go...

Bankruptcy and Credit Card Debt

Credit card debt that you are unable to pay can have a devastating impact on your financial health. High interest rates and fees can turn a meager balance into a massive debt. If you cannot pay this balance, then you...

Common Payday Loan Mistakes

Life is unpredictable. Our circumstances can change without warning and this includes our finances. You may find yourself in a situation where necessary expenditures exceed your income. This is where payday loans seem like the only alternative: you receive money...

Converting from Chapter 7 to Chapter 13

Through the Bankruptcy Code, Congress established two main types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 is what most people think of when they hear the word “bankruptcy.” It is a type of liquidation. In Chapter 7,...

Can I Defend Against an Auto Loan Deficiency Balance?

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....

How Does Bankruptcy Affect Credit?

How Does Bankruptcy Affect My Credit? Your credit rating is one of the factors lenders use to determine if you are a good risk. A good credit rating can be the difference between being approved or rejected for a home...

The Truth About Debt Relief Services

Over the last few years, debt relief services have promoted themselves as a lifeline to those experiencing financial hardships. These companies use a variety of methods to negotiate, settle, and in some instances, eliminate debt. But debt relief companies are...

Discharge Tax Debts in Bankruptcy

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...

Debt Consolidation Versus Bankruptcy

If you are like the millions of Americans struggling with debt, it is important that you know that there are options. While bankruptcy may be one of those options, it may not be the best fit for your specific financial...