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Colorado Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy for Colorado on
Q: How soon after the trustees final report is filed until chapter 7 is closed

The trustees final report was filed, it does show a distribution to creditors, does this mean my case is closed? If not, is there a timeline until it closes for chapter 7?

Timothy Denison
Timothy Denison answered on Jul 31, 2021

Usually 30-60 days.

1 Answer | Asked in Bankruptcy for Colorado on
Q: My chapter 7 was discharged in April. The only asset was my tax return which I paid. How long until it will close?

Just wondering if there is any timeline for for the closing.

Timothy Denison
Timothy Denison answered on Jul 27, 2021

3-6 months.

2 Answers | Asked in Bankruptcy for Colorado on
Q: With booming housing market, can I sell my house for over the homestead exemption?

I have gotten my discharge in chapter 7, but I am considering filing for a motion to abandon on my house. I’ve lost my job and need to get something more affordable. I am worried that since the housing market is up, it will be worth

More now than when I filed. If it does, and I get more... Read more »

Timothy Denison
Timothy Denison answered on Jul 16, 2021

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.

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2 Answers | Asked in Bankruptcy for Colorado on
Q: Can a torte claim for approx $7,000 for an auto-accident be discharged in a Ch 7. No DUI involved
David Luther Woodward
David Luther Woodward answered on Jul 13, 2021

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.

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2 Answers | Asked in Bankruptcy, Car Accidents and Personal Injury for Colorado on
Q: Can personal bankruptcy eliminate the debt for a $20,000 judgement for a traffic crash while driving with no insurance?
Clark Dray
Clark Dray answered on Jul 4, 2021

If you are involved in an auto accident and you don’t have insurance, your driver’s license can be suspended under Colorado’s Motor Vehicle Financial Responsibility Law. In order to have your license reinstated, you’ll need to obtain insurance and get into a payment plan for the damages... Read more »

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1 Answer | Asked in Bankruptcy for Colorado on
Q: Wondering if i can get someone to help me file for bankruptcy. Or atleast help me get out of some debt..

Try to see which is more affordable or a lot better for me. Chapters 7, 11, or 13, maybe if there’s better options? My debt is around 39,000. Basically being young and irresponsible.. i want a fresh new start.

Clark Dray
Clark Dray answered on Apr 27, 2021

In Colorado, many bankruptcy attorneys will provide you with a free consultation. During this consult, you'll let them know about your circumstances and the attorney will explain the various options including the different forms of bankruptcy. A free consult with a lawyer is your first step... Read more »

1 Answer | Asked in Bankruptcy for Colorado on
Q: If I put my car loan down on my bankruptcy would it be considered contingent, unliquidated or disputed?
Timothy Canty
Timothy Canty answered on Oct 30, 2020

First, you must list all debts including your car loan. If it is like most auto loans, it is probably none of these. You should consult with a bankruptcy attorney.

1 Answer | Asked in Bankruptcy, Contracts, Banking and Collections for Colorado on
Q: If I was discharged from my bankruptcy and 1.5 years later the bank charges off my auto loan... Can my car be repo'd?

I filed a chapter 7 in 2/2019. It was discharged in 5/2019. During, I tried to reaffirm my auto loan ($48,000) so I could keep my car. Once the bankruptcy was discharged the guy at the bank stops negotiating. He then tells me he can't process the reaffirmation agreement anymore and to fill out... Read more »

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Oct 21, 2020

A Chapter 7 Discharge does not discharge a secured debt, up to the fair market value of the collateral. In other words, your bank has a lien on your car to the extent, and in the amount of, its fair market value.

But if the loan balance is greater than the car's value, so that there...
Read more »

2 Answers | Asked in Bankruptcy for Colorado on
Q: I filed for chapter 7 in June 2019. Would have been sooner but elderly lawyer took 9 months to file a very simple case.

I filed for chapter 7 in June 2019. Would have been sooner but elderly lawyer took 9 months to file a very simple chapter 7. Two months later, my chapter 7 was discharged & my mother unexpectedly died in a heap of trash & dead animals in her house & left me money. I am still traumatized... Read more »

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Oct 1, 2020

The "180 day rule" is pretty straightforward. If your inheritance "ripens", i.e., becomes an enforceable right within that 180 days, you are obligated to inform the court/trustee, and turn over the inherited funds, for the benefit of the estate and its creditors. There are no... Read more »

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2 Answers | Asked in Bankruptcy for Colorado on
Q: what type of bankruptcy should I file?

I am looking to clear past cebt. I have no assets. I do have a car that is paid off.

Timothy Denison
Timothy Denison answered on Sep 22, 2020

Most likely Chapter 7.

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1 Answer | Asked in Bankruptcy for Colorado on
Q: could i give my father a gift deed on my home, and then months later file bankruptcy, and have him gift deed it back?
Timothy Denison
Timothy Denison answered on Sep 5, 2020

No. The Court would find that to be fraud.

2 Answers | Asked in Bankruptcy for Colorado on
Q: I own a house, the mortgage is clear. I’m worried about Outstanding credit card debt and filing bankruptcy.

Can I quick deed the house over to my father and file bankruptcy later?

David Luther Woodward
David Luther Woodward answered on Sep 4, 2020

First of all it's "quit claim deed", not quick

You have just described the classic insider or inter-family transaction which will be reversed if it is done less than a year before you file. You should go see a good lawyer who does bankruptcy to analyze where you are. I...
Read more »

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2 Answers | Asked in Bankruptcy for Colorado on
Q: Will a non-filing spouse be held liable for a spouse's medical debts in a Chapter 7? (In Colorado)

Are medical debts dischargeable in a Chapter 7 if they are only under the filing party's name? If the filing party is married, will the non-filing spouse be held liable for a spouse's medical debts in a Chapter 7? (In Colorado)

Timothy Denison
Timothy Denison answered on Aug 20, 2020

Medical debts are dischargeable and non filing spouse will not be liable for them unless she signed agreeing to be responsible.

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2 Answers | Asked in Bankruptcy for Colorado on
Q: I live in a travel trailer, if I file for chapter 7 bankruptcy, will that count as my homestead exemption?
Clark Dray
Clark Dray answered on Jul 21, 2020

You need to consult with an attorney for an in-depth answer because there are several different exemptions which might apply. That said, here is part of a decision in a Colorado bankruptcy case (Case:17-13786-JGR Doc#:35) which sets out some of the relevant law:

C.R.S. § 38-41-201.6 was...
Read more »

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1 Answer | Asked in Bankruptcy, Civil Litigation and Collections for Colorado on
Q: How can I find information on the end of the legal bankruptcy battle between Aurora Loan Services v Lehman Brothers

More specifically the disposition of the claimants involved and possible settlement information.

Timothy Denison
Timothy Denison answered on Jul 16, 2020

Pacer.gov

2 Answers | Asked in Bankruptcy for Colorado on
Q: For chapter 7,do I need to list my mom as my landlord if we have a verbal rent contract, but no written lease contract?

She owns the house and doesn't live here, and I pay her rent monthly out of my bank account and have been paying her back rent too.

Timothy Denison
Timothy Denison answered on Jun 11, 2020

It won’t hurt to disclose that, but it will have no adverse effect on you either way.

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2 Answers | Asked in Bankruptcy for Colorado on
Q: If I file before the 2nd stimulus check may pass can trustee take this money since CO has no wildcard exemption?
Clark Dray
Clark Dray answered on Jun 10, 2020

While they don't have to, bankruptcy trustees have been leaving stimulus money alone.

If you file before any bill passes providing for a second round of stimulus, that money would not be part of the bankruptcy estate.

Additionally, the CO legislature is working on a bill to...
Read more »

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1 Answer | Asked in Bankruptcy for Colorado on
Q: Bankruptcy Chapter 13 over in two months to expose Fraud do I file motion to lift stay?????
Timothy Denison
Timothy Denison answered on May 5, 2020

No. File your expose motion with the Court. No need to terminate stay if you file in the bankruptcy court.

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