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Am I required to disclose personal injury lawsuits or potential personal injury lawsuits when I file Chapter 7 or Chapter 13 Bankruptcy?
blogYes. 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 […]
If I am in a Chapter 13 Bankruptcy, can I convert to a Chapter 7 Bankruptcy and use the new Colorado Exemptions?
blogThe 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 […]
What happens if I transfer my interest in my house or other property without receiving fair market value within two years before I file Bankruptcy?
blogIn 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 […]