The New York Times has a story about some lawyers in Florida who are getting creative about the way they get paid by clients they are helping to fight off foreclosure. In order to pay their legal fees, these homeowners are taking out second mortgages to pay their legal costs. At first glance, this might…Read more
What is the Tools of the Trade Exemption in Bankruptcy in Colorado?
Under Colorado law, people who file bankruptcy are allowed to keep certain property. This property is “exempt” from being used by the trustee to pay the person’s debts. Colorado Revised Statute 13-54-102(1)(i) exempts “stock in trade, supplies, fixtures, maps, machines, tools, electronics, equipment, books, and business materials of any debtor used and kept for the…Read more
How Much is the Household Goods Exemption in Bankruptcy in Colorado?
Under Colorado law, people who file bankruptcy are allowed to keep certain property. This property is “exempt” from being used by the trustee to pay the person’s debts. Colorado Revised Statute 13-54-102(1)(e) allows debtors to exempt household goods to the extent of $3,000.00. Typically, this value is based on the price you would get for…Read more
How Much Jewelry Can I Keep When I File Bankruptcy?
Under Colorado law, people who file bankruptcy are allowed to keep certain property. This property is “exempt” from being used by the trustee to pay the person’s debts. Colorado Revised Statute 13-54-102(1)(b) exempts “watches, jewelry, and articles of adornment of the debtor and each dependent to the extent of $2,000.00 in value.”
What is the Vehicle Exemption in Bankruptcy in Colorado?
Under Colorado law, people who file bankruptcy are allowed to keep certain property. This property is “exempt” from being used by the trustee to pay the person’s debts. Colorado Revised Statute 13-54-102(j) allows debtors to exempt $5,000.00 in value or equity in a vehicle. An elderly or disabled person can exempt up to $10,000.00.
What Famous People Have Filed Bankruptcy?
When I meet my clients for the first time, one of the things they talk about is how embarrassed they are about having to file bankruptcy. They feel like failures. This is easy to understand. If you are like my clients, you were taught to be responsible and honor your debts. That is what my…Read more
Are My Unemployment Benefits Exempt In Bankruptcy?
Under Colorado Revised Statute §8-80-103, unemployment benefits are “exempt from levy, execution, attachment, or any other remedy provided for the collection of debt.” That means that the bankruptcy trustee will not be able to take any benefits that you may have earned before you filed your bankruptcy. However, those funds may not be protected if…Read more
What Does it Feel Like to File Bankruptcy?
I write this blog as a way for people to learn about the bankruptcy process and consider it a service that I can provide to people who aren’t my clients. If a comment from a client yesterday is any indication, it’s doing its job. She told me she hired me because of all the clear…Read more
Can I Convert My Chapter 13 Bankruptcy to a Chapter 7 Bankruptcy?
If your attorney has filed a Chapter 13 bankruptcy for you, you have an absolute right to convert the case to a Chapter 7 bankruptcy. The biggest reason that someone might convert to a Chapter 7 is because he can no longer make Chapter 13 plan payments. This could happen if the debtor becomes unemployed…Read more
Can Debt Collectors Look at My FaceTweetBookedInSpace Page?
Once upon a time, I made a living on the other side of the negotiating table. I worked for creditors, some of whom had me suing people for loans that had interest rates of up to 30%. Before we could sue them, though, sometimes we had to find them. You’d be surprised at how easy…Read more
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