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Will I lose the money in my Health Savings Account if I file Chapter 7 or Chapter 13 Bankruptcy?
blogNo. 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.
Can I protect my business equipment if I file Chapter 7 or Chapter 13 Bankruptcy in Colorado?
blogYes. 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 […]
Can I protect the equity in my Tiny Home if I file Chapter 7 or Chapter 13 Bankruptcy in Colorado?
blogYes! 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 […]