Facing overwhelming medical bills or a job loss? Thinking about filing for bankruptcy? If so, you’re not alone. The number one reason why people file bankruptcy today is medical bills, followed by other reasons like job loss and unexpected emergencies. If you’ve had to file bankruptcy or think you might need to in the future, no doubt…Read more
What Happens To My Credit Score After I File Bankruptcy?
If you’re worried about how bankruptcy will affect your credit score, read on. In ancient Greece, defaulting on debt could mean risking your autonomy. “Debt bondage” was a form of enslavement whereby you could only resume your freedom once you paid off your debt. This debt could even be inherited from family members and passed down…Read more
It’s Still Possible To Get A Car Loan After Bankruptcy
Filing bankruptcy often gives you a clean financial slate, but your credit scores take a serious hit. The most important factor that determines your credit score is your payment history. When you file bankruptcy, it means that you will not pay your creditors as agreed. For that reason, filing bankruptcy significantly lowers your credit score. Furthermore,…Read more
Will Bankruptcy Eliminate Tuition I Owe To A College Or University In Colorado?
Wondering if bankruptcy will eliminate a tuition debt from a college or university in Colorado? Read on! It’s not unusual for my clients to owe some sort of student loan. Student loan debt is one of the fastest growing types of debt that consumers in Colorado are dealing with. You’ve probably already seen that there…Read more
Should I Stop Paying My Creditors Before I File Bankruptcy In Colorado?
One of the last questions I get during a consultation is whether or not someone should stop paying their creditors before they file bankruptcy. This seems like a simple question, but it does present a small ethical quandary for a bankruptcy lawyer. Some years ago, the United States Supreme Court wrote that…Read more
How To Protect Your Home In Chapter 7 Or Chapter 13 Bankruptcy In Colorado
I have a recurring nightmare. No, it isn’t the one where I’m in the ninth grade, and I show up completely unprepared for a math test and end up completely bombing. It’s the one where one of my clients loses their home in bankruptcy. If that ever happens, I’m hanging up my spurs and joining…Read more
How To Stop A Garnishment In Colorado
Our phone rings more on Fridays, usually toward the end of the day. That’s when people are opening up their paycheck or checking their bank balance on their phones and noticing that there has been a big drop. After they call their payroll department to find out what happened and spend some time on Google…Read more
Do All Of My Tax Returns Need To Be Filed Before I Can File Bankruptcy?
Technically, you don’t have to have your tax returns filed before your bankruptcy is filed. But, depending on whether or not you file a chapter 7 or a chapter 13 bankruptcy in Colorado, you may have to have up to the last four years of tax returns filed shortly after your bankruptcy case is filed.…Read more
Does The Colorado Vehicle Exemption Protect My Motor Home?
There are two things I want you to get from reading this short article: first, the bankruptcy court is probably not going to be interested in your car; second, if the bankruptcy court is interested in your car, it doesn’t matter if it’s your only source of transportation that you have to get to work…Read more
When Does A Chapter 13 Plan Start?
Chapter 13 bankruptcy involves reorganizing debt (as opposed to liquidating dischargeable debt in Chapter 7) over a period of three to five years and requires filers to pay a percentage (anywhere from 1% to 100%) of their debt by making monthly payments to the Chapter 13 trustee who distributes it to their creditors. In Colorado,…Read more
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