If a debtor passes away before his bankruptcy case is discharged, what happens next depends on whether he filed a Chapter 7 or Chapter 13 case. Bankruptcy Rule 1016 provides, Death or incompetency of the debtor shall not abate a liquidation case under chapter 7 of the Code. In such event the estate shall be…Read more
What Are Priority Debts in Bankruptcy?
When your attorney prepares bankruptcy petition, he will have to divide your debts into three different categories: secured debts, unsecured debts, and unsecured priority debts. Unsecured priority debts are generally non-dischargeable and will not be eliminated by bankruptcy. Examples of unsecured priority debts for consumers are domestic support obligations (e.g. child support, alimony), taxes, loans…Read more
What is Medical Bankruptcy?
Denver, Colorado Medical Bankruptcy Attorneys I get a lot of calls from people who want to know how they can file, “medical bankruptcy“. Bankruptcy is the most powerful tool there is to eliminate overwhelming medical debt, but there’s one thing you should know. You can’t file bankruptcy just to get rid of medical debt. You…Read more
What Happens if I File My Bankruptcy in the Wrong Bankruptcy District?
Fortunately for debtors filing bankruptcy in Colorado, there is only one bankruptcy court district. That makes figuring out which district to file in quite a bit easier than for folks in states like California or New York. Nevertheless, if a debtor files in Colorado before he or she has lived in this state long enough,…Read more
What You Don’t Know Can Hurt You – How Medical Debt Can Force You Into Bankruptcy
I can not emphasize enough the importance of regularly checking your credit report. Take a look at AnnualCreditReport.com to find out how you can get a free report from each of the three consumer credit reporting agencies. The Wall Street Journal has a story that is just another reminder why keeping on top of your…Read more
Is My Bankruptcy a Public Record?
If I had my way, bankruptcy would not have the stigma it has. It is a great tool for people who are trying to keep their head above water and are ready to make real changes to get a new financial start. The second you file bankruptcy can be the beginning of a new life…Read more
How Long Do I Have to Live in Colorado Before I Can File Bankruptcy in Colorado?
If you have moved to Colorado within the last 90 days and are thinking about filing bankruptcy, you may have to postpone your filing. Rule 1408(1) of Title 28 of the United States Code states that a bankruptcy case may be commenced in the district in which: the domicile, residence, principal place of business in…Read more
Credit Loosening for Risky Borrowers
The New York Times is reporting that lenders are starting to loan money to people who are “high risk.” This means two things. First, if you have bad credit (and if you’re thinking about bankruptcy, I assume that’s the case), you’ll be able to find lenders who will loan you money to help you rebuild…Read more
Will My Employer Find Out if I File Bankruptcy?
Unlike your creditors, your employer will not get a notice of your bankruptcy case. However, bankruptcy is a public proceeding, which means that members of the public who are not a party to your bankruptcy can look at your bankruptcy case. They can usually do this online, using the PACER system. The question is why…Read more
What is an Emergency Bankruptcy Filing?
Filing bankruptcy can sometimes involve a long planning process that involves carefully going through your finances, answering dozens of questions, and even taking a credit counseling class. Depending on your attorney’s workload, it can take several weeks to prepare your petition for filing. Sometimes, you don’t have that kind of time. Like when a foreclosure…Read more
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