Chapter 13 Bankruptcy can stop foreclosure of your home. Upon filing, your attorney will notify the appropriate parties to stop the foreclosure action. Chapter 13 can give you up to 5 years to catch up on the payments that you are behind on when you file your Chapter 13 case. You may also be able […]
Many people call me who want to file a medical bankruptcy. Technically, there is no such thing as a medical bankruptcy. Individuals are generally filing either a Chapter 7 Bankruptcy or a Chapter 13 Bankruptcy. Chapter 7 Bankruptcy is where you are getting rid of most of your debt without having to pay it back. […]
The Colorado exemptions protecting property increased in April of 2022. One of biggest benefits is $2,500 in protection for the total amount of money in bank accounts. Previously there was no protection for money in bank accounts unless it was social security, disability (with limits) or wages (80% protected). If someone gave you money […]
No. This is a common misconception that may people have when considering filing Chapter 7 or Chapter 13 bankruptcy. It may even complicate your case. If you pay an unsecured creditor such a credit card company more than $600 in total within the 90 days before you file bankruptcy, the payment is considered a preferential […]
Yes. The Statement of Financial Affairs portion of the Bankruptcy Petition specifically asks in question 9 if you have been involved in a lawsuit, court action or administrative proceeding in the last year. This includes personal injury lawsuits as well as all other types of legal actions. Paragraph 33 of Section A/B (asset section) of […]
The short answer is no. The new Colorado exemptions only apply to cases filed after April 7, 2022. If it makes sense to dismiss your Chapter 13 Bankruptcy and you currently qualify to file a Chapter 7 bankruptcy then it may be an option. However, you must qualify to file a Chapter 7 Bankruptcy. If […]
In addition to the Trustee and creditors’ ability to prevent a discharge under section 727 of the Bankruptcy Code for transfers with in one year of filing, there is another section of the Bankruptcy code to be concerned about. Under section 548 of the Bankruptcy Code, a Trustee has the ability to go back two […]
What happens if I transfer my interest in my house or other property without receiving fair market value within one year before I file Bankruptcy? You will likely cause yourself a lot of problems. One problem is that the Trustee or a creditor may file an action against you in the Bankruptcy Court to prevent […]
Yes. The updated Colorado Law provides: “Any past or present child support obligation owed by a parent or child support payment made by a parent that is required by a support order is exempt from levy under writ of attachment or writ of execution for any debt owed by either parent.” It needs to be […]
The new Colorado Exemption law protects a mobile home, manufactured home, trailer and trailer coach that you live in on one or more lots that you own as a homestead. Your home and your lot or lots are protected in same amounts as a site-built house on one or more lots. The law specifically refers […]
I understand that deciding whether to file bankruptcy is a difficult decision. I have been helping people make that decision for over 25 years. I offer a free consultation to help you with your decision.
