Q: how long does it take for a chap 13 bancruptcy filing to put a stop to debt collection and property tax redemption?

A: A chapter 13 filing will stop the sale of your property immediately (the automatic stay). In order to continue with the sale, the taxing agency will need to ask the Bankruptcy Court to lift the automatic stay to proceed with the foreclosure. If you have significant equity in the property, it is unlikely that the court will allow the foreclosure to proceed. There are a number of options available to you at that point. You should retain an attorney immediately to give you appropriate advice. In an emergency, a bankruptcy petition can be filed in very little time.

A: Filing for Chapter 13 bankruptcy in Colorado can provide immediate relief from debt collection efforts through what's known as an "automatic stay." This legal provision goes into effect as soon as your bankruptcy case is filed, and it halts most collection actions against you and your property. This includes stopping the process of property tax redemption.

Regarding your property with significant equity, Chapter 13 can be particularly beneficial. This type of bankruptcy allows you to create a repayment plan to catch up on overdue payments, like property taxes, over a period of three to five years. In the meantime, your property is generally protected from being taken over by creditors or sold for debt repayment.

However, it's important to act swiftly, especially given your 10-day timeframe. The effectiveness of Chapter 13 in stopping the redemption of your property and protecting your assets depends on timely filing and the specifics of your financial situation.

Given the complexity of your situation and the urgency, it’s advisable to contact a legal professional experienced in bankruptcy law immediately. They can guide you through the filing process and help you understand how Chapter 13 bankruptcy might work in your specific circumstances. This can be a crucial step in protecting your property and managing your finances.