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Questions Answered by Kevin Scott Neiman
2 Answers | Asked in Bankruptcy for Colorado on
Q: If I file for bankruptcy in Colorado, will I lose my house?
Kevin Scott Neiman
Kevin Scott Neiman answered on Apr 18, 2018

As long as your equity in the home is fully exempt, in most cases, you will not lose it during your bankruptcy case. You will still be able to keep the home, even if your property is not fully exempt if you pay its non-exempt value to creditors in chapter 13. However, some of your creditors may... Read more »

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1 Answer | Asked in Bankruptcy for Colorado on
Q: What if i fall behind on my secured debts before my plan is completed, but have it caught up.before the end of 5 years.
Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

If you miss a payment, then you’ve got to make up that payment at some point. And if you miss too many payments, then the Trustee will seek to dismiss your case.

1 Answer | Asked in Bankruptcy for Colorado on
Q: My bankruptcy was let go due to lack of payment. Can I file again?
Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

If you were in a Chapter 13 case that was dismissed before you received a discharge, you would be free to refile immediately. If you haven’t fully recovered financially from the circumstances that caused your Chapter 13 to be dismissed, then you may want to consider filing a Chapter 7 case. You... Read more »

1 Answer | Asked in Bankruptcy for Colorado on
Q: Can the irs levy my bank in a 10 year old debt?

Recently the irs sent me a statement on a 10 year old tax debt (2007) attempting to collect $150k. My question is can they legally levy my bank on that old of a debt or just keep sending me statements? And would bankruptcy be my best option?

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

In formulating a strategy for dealing with the IRS and in evaluating your options, it is critical that you accurately determine the date the collection statute expires. The IRS has incorrectly calculated the CSED on many prior occasions. Consult with an experienced tax professional before providing... Read more »

1 Answer | Asked in Tax Law and Bankruptcy for Colorado on
Q: My bk discharge was final in March 2017. I never filed my 2015 tax return, it’s a decent size return. What should I do?

I’m a disabled veteran and worked half the year in 2015. The only year I worked in 5+ years. VA pension so I didn’t work. I didn’t even think about my 2015 return, which as it turns out is almost 4k$. Should I still file it? Or will it affect my chapter 7 discharge?

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

For each return that is more than 60 days past its due date, IRS will assess a minimum failure to file penalty. The failure to file penalty runs at a severe rate of 5% up to a maximum rate of 25% per month of lateness.

1 Answer | Asked in Bankruptcy and Collections for Colorado on
Q: Am I responsible for my husband's medical bills?

My husband did not have insurance and spent the night in the hospital. Now they are trying to garnish my wages.

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

The rules for determining which spouse is responsible for what debts incurred during the marriage vary between states and largely depend on the type of debt incurred. CO is a separate property state (not a community property state) which means that you are not legally responsible for your... Read more »

1 Answer | Asked in Bankruptcy for Colorado on
Q: My wife and i are about to claim chapter 13 the appointment is scheduled 3 days from now, i just received a work bonus

My wife and i are about to claim chapter 13 the appointment is scheduled 3 days from now, i just received a work bonus and need to pay our parents back some money fix our cars and buy a new washer and dryer. The bonus is 5k. If we spend this money on the things i listed will the court deny th he... Read more »

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

Better not touch the bonus, disclose it to the Chapter 13 Trustee and see what happens.

1 Answer | Asked in Bankruptcy for Colorado on
Q: How do I deal with new Collection Agency creditors during Chapter 7 proceedings?

During my preparation and filing of Chapter 7 - two of my debts were sold to collection agencies. I wasn't aware of that yet - so there weren't included on my Schedule E/F or Creditor Matrix. Instead, rather, I listed the original creditor - since at the time of filing, that's all I... Read more »

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

This is how it should work: You can have your attorney file an amendment to add the creditor and all will be well.

1 Answer | Asked in Bankruptcy for Colorado on
Q: Self employed no assets. Tax lien from a different state 6yrs old. Is it worth paying for bankruptcy?

I moved from California in 2011, made less than 10,000 that year, did not file had no money. Had to move and start over or starve. They have put a lien on my credit score of 11,000. Since I am self employed and am required to pay state and fed myself they cannot take a return from me. As I have no... Read more »

Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

For income taxes to be discharged in bankruptcy: they must have been due more than three years before filing bankruptcy, you must have filed your return more than two years before filing bankruptcy, and the taxes must have been assessed at least 240 days before filing bankruptcy. Note that all... Read more »

2 Answers | Asked in Bankruptcy for Colorado on
Q: Is there an income limit for filing bankruptcy?
Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

The Bankruptcy “Means Test” is a form that must be completed when filing for Bankruptcy. If the filer's current monthly income is equal to or below the state's median, then he or she can file for Chapter 7. If, on the other hand, the filer's income exceeds the state's median... Read more »

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2 Answers | Asked in Bankruptcy for Colorado on
Q: What property can you leave out of a bankruptcy?
Kevin Scott Neiman
Kevin Scott Neiman answered on Mar 22, 2018

The simple answer to whether one can leave an asset out of the bankruptcy is: no, you can’t. When filing a Chapter 7 or Chapter 13 bankruptcy petition, you must include all of your assets, debts, and income. But this does not mean that you will lose assets simply because they are listed in your... Read more »

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1 Answer | Asked in Bankruptcy and Personal Injury for Georgia on
Q: I have a personal injury settlement coming soon. I also am about to file bankruptcy. Can they touch my settlement?
Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

A bankruptcy trustee in a Chapter 7 case can potentially take any money you are paid in a settlement because you have limited protection of your personal injury settlement money. You should consult with your personal injury attorney and your bankruptcy attorney to see what the best course of action... Read more »

1 Answer | Asked in Bankruptcy and Foreclosure for Colorado on
Q: Mortgage discharged in bankruptcy. How long after deed in lieu can I get a loan?

My mortgage was discharged in bankruptcy in 2010. It's just now going through foreclosure. If I can get a deed in lieu, can I make it part of the agreement that the bank will NOT report the deed in lieu to credit agencies or report it as settled? Can they even report that since they're... Read more »

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

In general, the minimum waiting time after a deed in lieu to apply for a federally backed mortgage is two years. There are no mandated waiting times after for private lender. Having a hefty down payment and the funds to cover closing costs might enable you to obtain a new mortgage immediately after... Read more »

1 Answer | Asked in Bankruptcy for Colorado on
Q: I own a house I'm still making monthly mortgage payments on. How will it be affected (if at all) if I file for

bankruptcy?

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

Chapter 7 bankruptcy doesn't get rid of the mortgage company’s lien on the house. Your discharge only wipes out your personal liability on the mortgage note. If you don’t make your payments, the lender can no longer come after you personally, but it retains the right to take the house back... Read more »

1 Answer | Asked in Bankruptcy and Landlord - Tenant for Colorado on
Q: Tenant is in default for changing flooring/lighting without permission. Tenant filed bankruptcy. Can I evict?

The lease is rent to own, but tenant can't exercise option to purchase if they are in default. Bankruptcy trustee is trying to purchase my house at the amount stated in lease, then resell at higher rate to pay tenants' debts.

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

The automatic stay which begun when the bankruptcy petition was filed will prevent you from giving the tenant a termination notice. You can proceed with the eviction by asking the federal bankruptcy court to lift the stay. The judge could lift the stay because a lease agreement has no effect on the... Read more »

2 Answers | Asked in Bankruptcy for Florida on
Q: Was discharged from Chap.7 in December 2009. How long do I have to answer "yes" to the question about have I ever filed
Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

A Chapter 7 bankruptcy can appear on a credit history for ten years. The ten-year clock starts ticking when the bankruptcy was filed.

If you’re giving a sworn deposition or applying for a job or loan, you should admit the bankruptcy forever. That being said, after a bankruptcy...
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2 Answers | Asked in Consumer Law and Bankruptcy for Arizona on
Q: I have an unsecured loan I defaulted on. No judgement yet, but letters from attorney. Can I bankrupt out of this?

I have an unsecured line of credit I defaulted on. They have not taken me to court to receive a judgement yet. I have only received letters from a lawyer stating they are going to proceed. Can I bankrupt out of this debt or do I have to wait until a court grants them a judgement?

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

Unsecured lines of credit may be included in Chapter 7 bankruptcy. All collection practices against you are required to stop once you file for bankruptcy. You have an obligation to meet certain income standards to be granted bankruptcy protection. Under the terms of Chapter 7 bankruptcy, you may be... Read more »

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2 Answers | Asked in Bankruptcy for Colorado on
Q: If a company failed to fulfill an order I placed and paid for, then files for bankruptcy, can I still sue them to get my

money back?

Kevin Scott Neiman
Kevin Scott Neiman answered on Jun 11, 2017

The extent of the financial situation is revealed in the bankruptcy filing and "341" notices. You can contact the attorney or court-appointed trustee to work out an arrangement on how your debt is handled in the bankruptcy.

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