It’s true bankruptcy offers reprieve from financial burden. But the hit your credit score takes following Chapter 7 or Chapter 13 can be just as stressful. Do not despair; you can repair your damaged credit. We’ve aimed the following steps at helping you create better spending habits and be mindful of your current debt. If […]
When a business or an individual faces overwhelming debt, it can seem like there is no way out. For those who find themselves in this position, they can file bankruptcy and get a “fresh start.” Within the Federal Bankruptcy Code, there are several different ways for individuals and businesses to file bankruptcy. Learn the difference […]
When you’ve reached your financial limit and don’t know how you can possibly pay all your debts, bankruptcy may well be your best option. Bankruptcy can provide a fresh start and big weight off your shoulders. Take a look at some of the advantages and disadvantages of bankruptcy. Benefits of Filing for Bankruptcy When you […]
Many people who file chapter 7 or chapter 13 bankruptcy and owe income taxes for prior years believe that the income tax obligations will not be eliminated or discharged. However, Bankruptcy Law provides that income taxes can be discharged in certain circumstances. In a Chapter 7 Bankruptcy where you are wiping out most of your […]
You have plenty to worry about when someone in your family is diagnosed with a serious medical condition. You don’t need to worry about treatment costs too. Unfortunately, medical debt becomes a contributing factor to bankruptcies for millions of Americans every year. Let’s explore the reasons that medical expenses and bankruptcy often go hand in […]
On July 1, 2015 the Colorado asset protection statute will change thanks to the hard work of several of my fellow Colorado Bankruptcy Attorneys. This law will affect every Bankruptcy filed in Colorado on or after July 1, 2015. This is part 1 of a series on the changes to the law. HOW THIS CHANGE […]
In my previous blog post I described the changes to the Colorado Exemption Law effective July 1, 2015 and how it will affect the Homestead Exemption and Motor Vehicle Exemption. Some of the other exemptions that will be affected and how they affect your ability to file Chapter or Chapter 13 Bankruptcy are described below. […]
JEWELRY AND WATCHES The Colorado Bankruptcy exemption for jewelry which includes articles of adornment and watches increased from $2,000 per debtor to $2,500 per debtor. This includes jewelry that you purchased or inherited. If you own the jewelry you must include it in the calculation. The value is what it would sell for at a […]
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.
