Protection may depend on the type of disability benefits that you are receiving. Social Security Disability and VA Disability are protected under Federal Law. Colorado’s new Exemption Law is intended to protect disability that is not already protected. Any claim for public or private disability benefits or proceeds thereof that is not already protected by […]
No. The 2022 Colorado Exemption law now protects Health Savings Accounts from creditors and the Bankruptcy Trustee. Prior to the updated law, a Health Savings Account in Colorado was not protected in bankruptcy. You should always consult with your attorney regarding your specific situation when considering filing bankruptcy.
Yes. Within Limits. To protect your business equipment, you must own it personally. The equipment cannot be owned by your LLC or Corporation. An LLC and a Corporation are separate legal entities. What they own is not the same as what you own. For example, to protect a vehicle used in a business, it must […]
Yes! On March 7, 2022 a new Colorado law expanded the definition of dwelling to include tiny homes, railway cars, shipping or cargo containers or sheds and even yurts. Dwellings qualify for the Colorado Homestead Exemption. The amount of the Homestead Exemption was also increased in the same legislation. The Homestead Exemption has been increased […]
Recent Colorado Law changes now allows you to protect up too $2,500 total in your bank account or accounts regardless of the source of the funds when you file a Chapter 7 or Chapter 13 Bankruptcy. This is a huge change in the law. Previously, money needed to be from certain sources such as, wages, […]
The Colorado law protecting equity in motor vehicles when filing bankruptcy changed on April 7, 2022. If you are under 60 years of age, you can now protect a total of $15,000 in equity in one or two motor vehicles or bicycles. If you are 60 years of age or older or disabled you can […]
Yes, within limits! Colorado law now allows you to protect in bankruptcy , your combined interest in firearms and hunting and fishing equipment held for personal, household or family use or for your personal safety and members of your household up to $1,000 in value. This is a huge change for the Colorado Exemptions which […]
The new Colorado Exemption legislation has now been signed into law. It significantly increase and expands protection of assets for people filing Chapter 7 and Chapter 13 bankruptcy.
New Homestead Exemption legislation passed in March of 2022, now includes motorhomes, campers and trailers. It also significantly increases the protection of the equity in your motorhome, camper or trailer. The Governor of Colorado still needs to sign the legislation into law. The Homestead Exemption has been increased to protect $250,000 in equity for a […]
The filing of a Chapter 7 bankruptcy can temporarily stop eviction. The Chapter 7 Bankruptcy must be filed prior to the Court Order for eviction. It is not a permanent solution. It may give you time to negotiate with your landlord or seek financial assistance. Filing Chapter 7 may also eliminate debt that you are […]
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.
