What Does Filing For Bankruptcy Mean?
If you are like the millions of Americans who are stuck in a seemingly never-ending cycle of debt, you are probably searching for a way out. You’ve done your best to meet your obligations, but you still may not be making any progress. Fortunately, there is hope. Bankruptcy can provide you with immediate relief from […]
Should I file chapter 13 bankruptcy if I have equity in my home?
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, the equity in a home is not sufficient to impact your monthly chapter 13 plan […]
What if my spouse doesn’t file bankruptcy with me?
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 your social security number. As such, you have a separate credit profile from your spouse. […]
Paying for Bankruptcy
Paying for Bankruptcy I am often asked if I accept installment payments. I must inform prospective clients that attorneys are prohibited from demanding payment after a bankruptcy case is filed. Attorneys have been disbarred for this. I keep my overhead and other expenses to a minimum and pass the savings on to my clients through […]
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy in Colorado Chapter 7 Bankruptcy law is covered under Title 11 of the US Code. There are two chapters consumer debtors routinely file under: Chapter 7 and Chapter 13. In some rare cases, a high net worth individual may file under chapter 11. This article discusses what happens after a chapter 7 […]
Bankruptcy and Statute of Limitations
Bankruptcy and Statute of Limitations In Colorado, creditors are generally prohibited from obtaining a judgment on a debt six years after the last date of account activity. This could be the last date you made a purchase or made a payment. The deadline is known as the Statute of Limitations (SoL). There are many ways […]