In a bankruptcy case, you are given the right to return collateral to the secured lender in exchange for full satisfaction of the secured claim of that lender.

Short of that, the terms of your Security Agreement, with applicable Colorado law, apply.

In particular, what does the... View More

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answered on Sep 8, 2023

To file a Chapter 7 bankruptcy in Colorado, you first need to ensure that you qualify by passing the means test, which assesses your income and expenses. Then, you will be required to complete a credit counseling course from an approved provider. Once these steps are taken, you will need to compile... View More

The most important element here is whether you personally guaranteed the business debt. If you did, the business bankruptcy won't wipe out your personal obligation to pay that debt. If the business is solely liable for the debt, which is very rare, there isn't any reason your personal... View More

You can use your state (or federal if available ) exemptions to protect your $18,000 from seizure.

Check with your local bar association or legal aid society for pro bono lawyers.

This can be a tricky question, and it is my understanding that the answer may vary for different purposes, so it would be wise to also get opinions from a bankruptcy attorney and a tax attorney as well. This answer is going to be from an estate planning and family/divorce perspective. I do not... View More

You would have to reduce the cause of action to a judgement by filing a lawsuit and going through that process. This process will depend on the language in any contracts executed or if there was no contract the state procedural and conflict of law rules.

Once you have a judgement you would... View More

Yes. You can file bankruptcy.

No.

There's not nearly enough information here to advise you of your options. I suggest you get a consultation with an experienced bankruptcy lawyer - most of us will give you a free consultation.

The bankruptcy code is federal and thus the same nationwide. Nuances regarding exemptions can vary from state to state, but the bankruptcy laws under the federal code are uniform throughout the 50 states.

first of all, go see a good bankruptcy/financial distress lawyer. It sounds to me like the statute of limitation might have run. If that is the case, then you have an action against the law firm.

That aside, bankruptcy could be your solution, but only a good local lawyer can give you that... View More

What is your question?

In a corporate Ch. 7 case, the corporation almost always ceases operation immediately, terminates its employees, etc., and a bankruptcy trustee steps in and liquidates the assets of the business.

Under these circumstances, your warranty is pretty much worthless. There's nobody there... View More

Statutes of limitations vary by state. For example in Mississippi, the statute of limitations on an auto loan deficiency is only one year. Under Colorado Revised Statute 13-80-103.5, the statute of limitations is 6 years. This runs from the date of the last payment. The fact that it is... View More

It depends on whether chapter 13 (which can be 45-90) vs a Chapter 7 which is 30-60 days

Usually 30-60 days.

Most likely, yes.

If you’ve gotten your discharge and the trustee has abandoned the property, you should be able to do as you wish with the property.

The short answer is YES.

Tort (not torte, a French pie) judgments are no different from others unless they include specific punitive or exemplary damages, which may not be discharged.

Take you specific problem to a good BK lawyer so he/she can know all the facts and base an opinion on that.