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Colorado Bankruptcy Questions & Answers
2 Answers | Asked in Bankruptcy, Estate Planning and Tax Law for Colorado on
Q: How can I protect my separate assets (cash, savings, car) from my spouse’s potential future debt claims

How can I protect my separate assets (cash, savings, car) from my spouse’s potential future debt claims (IRS seizure, collection lawsuits from business and credit card creditors)? Divorce is not anticipated. This is in Colorado.

Timothy Denison
Timothy Denison
answered on Jan 24, 2023

Keep all of your assets titled in your name only.

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2 Answers | Asked in Bankruptcy, Estate Planning and Tax Law for Colorado on
Q: How can I protect my separate assets (cash, savings, car) from my spouse’s potential future debt claims

How can I protect my separate assets (cash, savings, car) from my spouse’s potential future debt claims (IRS seizure, collection lawsuits from business and credit card creditors)? Divorce is not anticipated. This is in Colorado.

Rebecca Pescador
Rebecca Pescador
answered on Jan 25, 2023

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... Read more »

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2 Answers | Asked in Bankruptcy, Business Law and Contracts for Colorado on
Q: We paid a company 30k to build an online business. After two years, the company filed for chapter 7. Can we do anything?

The company was paid as private contractors. We waited 2 years for them to build the store they promised, but all they ever did was delay. Now they’ve filed for chapter 7 bankruptcy without ever telling us and we don’t know what, if anything, we can do legally to try and recoup our $30k. The... Read more »

D. Mathew Blackburn
D. Mathew Blackburn
answered on Dec 4, 2022

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...
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1 Answer | Asked in Bankruptcy and Probate for Colorado on
Q: Can I claim bankruptcy if I am being sued in probate court for a surcharge
Timothy Denison
Timothy Denison
answered on Nov 3, 2022

Yes. You can file bankruptcy.

1 Answer | Asked in Bankruptcy for Colorado on
Q: I am 66. I want to retire. I have 20,000 in credit card debt. I am paying on a mobile home car and loans. Bankruptcy?

I see debt following me to purgatory or heaven. I want to retire but afraid of debt. I am just looking for general answer. I plan on seeing an attorney next week but wanted general answer

Timothy Canty
Timothy Canty
answered on Oct 21, 2022

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.

2 Answers | Asked in Bankruptcy for Colorado on
Q: What bankruptcy laws are Available in Tennessee?
Timothy Denison
Timothy Denison
answered on Aug 4, 2022

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.

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2 Answers | Asked in Bankruptcy, Civil Litigation, Collections and Small Claims for Colorado on
Q: What are my steps when a law firm threatens to sue for something where the statute of limitations has expired?

I received a strongly worded letter from a law firm threatening legal action in the form of a lawsuit over an unpaid debt. They also said that it’s been noted that I attempted to basically defraud the collector because I allegedly closed a bank account. (Don’t recall this) The debt itself I am... Read more »

David Luther Woodward
David Luther Woodward
answered on Apr 12, 2022

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...
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1 Answer | Asked in Bankruptcy, Family Law and Juvenile Law for Colorado on
Q: I have validated proof of CPS atty misleading client into an admission to D&N case. It was in a text message from atty.

Client asked atty for casenotes atty said parent isn't entitled and immediately wanted to withdraw from clients case. Atty says they don't know what case notes are. In 15 months never met the attorney face to face and have proof that atty worked against client the entire time. 2 different... Read more »

Timothy Denison
Timothy Denison
answered on Feb 9, 2022

What is your question?

1 Answer | Asked in Bankruptcy for Colorado on
Q: I installed solar in April and now find out the company is going bankrupt. (Empire Solar Group, Chapter 7, Salt Lake Ciy

Will this effect my warranty? My rebate? Do I have to join this lawsuit? I have until 1/28/22 as the deadline. Case # 21-23636

W. J. Winterstein Jr.
PREMIUM
W. J. Winterstein Jr.
answered on Jan 21, 2022

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...
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1 Answer | Asked in Bankruptcy, Contracts, Copyright and Collections for Colorado on
Q: What is the Statute of limitations in a auto-loan delinquency. The account was originally listed as “ “ “ charge off “

The account is now listed as closed, I never made any agreement/payment arrangements w/ creditor after the car was voluntarily repossessed.

Mike T. Ramsey
Mike T. Ramsey
answered on Jan 6, 2022

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... Read more »

2 Answers | Asked in Bankruptcy for Colorado on
Q: How long after trustee’s final account and distribution report certification(form 101-7-TDR) until case closed?

Is there a timeline for this? For chapter 7

Stuart Nachbar
PREMIUM
Stuart Nachbar
answered on Nov 15, 2021

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

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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.

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