One of your primary concerns when considering bankruptcy should be how filing will affect any personal property and real estate that you own. The bankruptcy code allows each state to decide just how much property is protected. Colorado’s protections (what we lawyers call “exemptions”) cover your primary residence, household goods, clothing, jewelry, vehicles, and other…Read more
Lying On Your Bankruptcy Petition Can Cost You Your Personal Property
I got an urgent call yesterday from a woman who had filed bankruptcy a few years ago. She wasn’t calling because she needed to file bankruptcy again. She had other problems. She had recently had some jewelry stolen. Her insurance company wanted to pay the claim, just not to her. They were planning on paying…Read more
What Happens To Property That The Bankruptcy Trustee Takes?
I spent this last Saturday at an auction held in an industrial part of Denver, just west of downtown. The auction was held in a small metal warehouse. On the asphalt outside the warehouse, behind the high chain link fence, were several vehicles. There was a 1960 Ford Thunderbird that looked like it might have…Read more
Five People To Talk To About Your Financial Problems
If you’re like most people who come to me who are dealing with the stress and anxiety of an overwhelming financial situation, your first instinct may be to keep it to yourself. You may feel that since you got yourself into your predicament, it’s up to you to get yourself out of it. One of…Read more
Is Debt Keeping You Awake At Night?
It’s the middle of the night. You’re wide awake. Your heart is pounding. Tonight you’re desperately scouring the Internet looking for solutions. Is debt keeping you awake at night? You’re not alone. Stress about debt can have an incredibly negative…Read more
Are Taxes Non-Consumer Debt In Bankruptcy?
I was meeting with a potential client the other day and trying to solve a puzzle. He owed a significant amount of back taxes, but his income was also high enough that it appeared that he would need to file a Chapter 13…Read more
Can I Buy A Home If I File Bankruptcy?
One of the most frequent concerns my clients and people who come in for a consultation have is when, if ever, they’ll be able to buy a home after they file bankruptcy. This questions always makes me smile a little, because that is a myth I am all too happy to smash. You can buy…Read more
Who Is Going To Show Up At The Meeting Of Creditors?
For my clients, it is one of the most nerve wracking aspects of the personal bankruptcy process: the meeting of creditors, otherwise known as the 341 meeting (for the section of the Bankruptcy Code it comes from). I think they sometimes envision a public flogging, where all…Read more
How Broke Do I Have To Be To File Bankruptcy?
The other day I met with a young man, still in college who had gotten into multiple accidents over past couple of years. Unfortunately, he wasn’t insured and had racked up tens of thousands in dollars in debt. As you know, medical debt is one of the…Read more
What Is Included In The Colorado Bankruptcy Exemption For Household Goods?
One of the biggest concerns for people considering bankruptcy is what happens to their personal property when they file. The intent of the Bankruptcy Code is not to leave filers destitute and without anything. Bankruptcy is intended to provide a fresh start and doesn’t require you to lose everything. In that spirit, the Colorado bankruptcy…Read more
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