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
Michael Vick is the Latest Celebrity to Declare Bankruptcy
If you’ve been reading my blog, you know that people from all walks of life have had to file bankruptcy, including some very famous ones. Michael Vick, of NFL and dog fighting fame, is just the latest celebrity to take advantage of the personal reorganization available through Chapter 13. The part of the story that…Read more
What is the Statute of Limitations on Collecting a Debt in Colorado?
Colorado Statute Of Limitations For Debt Worried about the Colorado statute of limitations for debt? Let me tell you a story. Today I got a call from a panicked single mother. She had just gotten off the phone with someone who claimed she owed money to for an apartment she had to move out of…Read more
Thinking About Filing Bankruptcy After You’ve Retired?
Retirement should be a time in your life when things are easy: vacations, spending time with grandkids, and getting to all of those things you put off during your earning years. Unfortunately, for many retirees, that isn’t the case. With their limited income and increased expenses for health care, more retirees are turning to bankruptcy…Read more
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