In a recent discussion on our blog about what can happen when one member of a multi-member limited liability company (LLC) files for bankruptcy, we noted the continued growth in the popularity of LLCs over the past several decades. This growth has not been limited to multi-owner businesses. Most state LLC laws recognize single member…Read more
What Happens If One Member Of A Limited Liability Company Files Bankruptcy?
The popularity of limited liability companies (LLCs) in the United States has grown dramatically since the adoption of the first LLC statutes in the late 1970s. If you’ve opted to run your business as LLC, it’s probably because you recognize that this form of entity combines the limited legal liability protection of a corporation with…Read more
What Happens If My Bankruptcy Discharge Is Revoked?
When you entrust your bankruptcy case to us, you can be sure that we will use our many years of experience in Colorado bankruptcies to get you the best possible outcome. We will take the time to explain each step in the process and its significance. But when you file for bankruptcy protection, you agree…Read more
Can I File Bankruptcy While I’m In Jail?
I recently had the experience of helping a client who was incarcerated when we filed his case, and I thought I would share some of the issues that we had to deal with. Hopefully, this will help anyone who is facing the same situation trying to get their financial affairs in order while they serve…Read more
Can I Rent A Home Or Apartment After I File Bankruptcy?
I am often asked by people who are considering filing bankruptcy what the downsides to filing are. After helping hundreds of clients recover from financial difficulties, frankly, I haven’t seen very few. The people I have helped have been able to recover from overwhelming debt, stop garnishments and harassing debt collectors, and been able to…Read more
Can I Sell My Home If I Am In A Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is also known as personal reorganization and involves repaying a portion of your debts over the course of a three to five year plan. Most people who file Chapter 13 do so because their income is too high to file Chapter 7, which requires you to be below the median income for…Read more
How Much Is My Chapter 13 Bankruptcy Payment Going To Be?
Chapter 13 bankruptcy requires filers to repay a portion of the debt they owe. There are a few reasons why someone would file Chapter 13 instead of Chapter 7. The first is that their income is too high to file Chapter 7. In order to file Chapter 7, your income must be below the median…Read more
What Is The Difference Between A “No Asset” And An “Asset” Chapter 7 Bankruptcy?
In broad terms, there are two types of Chapter 7 bankruptcy case: “asset” and “no asset”. Most Chapter 7 filers have no asset cases. What that means is their assets, i.e. personal belongings and real estate, are exempt (protected) under the bankruptcy rules. Practically speaking, in a no asset case there isn’t anything for the…Read more
Can I File Bankruptcy If My Business Fails?
I often get calls from people who want to know if I can help them file bankruptcy for their business. After trying their best, for one reason or another their business plan just didn’t work out. Maybe they didn’t have enough capital. Maybe their household couldn’t survive on one income while the business got up…Read more
Will The Bankruptcy Court Deny My Chapter 7 Discharge?
I often get asked when I meet with someone who is thinking about filing bankruptcy, whether or not there is any chance that their bankruptcy would be denied. They are unfamiliar with the bankruptcy process and worried that something might interfere with their ability to get the fresh financial start that they desperately need. Before…Read more
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