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Colorado Bankruptcy Questions & Answers
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...
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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...
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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...
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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...
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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.

3 Answers | Asked in Bankruptcy for Colorado on
Q: I will be filing Chapter 7 at the end of April. I just received my stimulus money. Will the bankruptcy trustee take it?
Stuart Nachbar
Stuart Nachbar answered on Apr 15, 2020

Under the Stimulus Package, in Section 1113(b), Congress has decided that these stimulus payments to the American people should not count against them when it comes to bankruptcy. As such, in the Stimulus Package, Congress is amending the Bankruptcy Code as follows: “[e]xclusion from Current... Read more »

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1 Answer | Asked in Bankruptcy for Colorado on
Q: IN AUGUST OF 2017 I HAD TO FILE A CHAPTER 7, IN THIS BK WAS THE BALANCE OF A SBA LOAN ORIGINALLY $35000 NOW$15700 FHA ?

ESSENTIALLY THE ONLY WAY TO REFINANCE OUR PROPERTY IS THROUGH FHA WE ARE 69 YEARS OLD AND THE FRESNO CA. OFFICE PLACED A NEGATIVE REPORT ON A CAVIRS REPORT AND EVEN KNOW WE HAVE NEVER BEEN 30 DAYS LATE ON ANY MORTGAGE-FHA WILL NOT REFI UNLESS SBA REMOVES THE NEGATIVE AND PAY THEM WITH A NEW... Read more »

Timothy Denison
Timothy Denison answered on Apr 10, 2020

You are not obligated to pay the debt as it was discharged. However the SBA and FHA are not obligated to continue to do business with you at all. If the liens were not avoided, they are still valid. You should consult an experienced bankruptcy attorney who can consider all your options, but... Read more »

1 Answer | Asked in Bankruptcy for Colorado on
Q: IN AUGUST OF 2017 MY WIFE AND I HAD TO FILE CHAPTER 7 AFTER 25 BUSINESS FAILED THE SBA FILE A REPORT ON CAVIRSNEED HELP

BASICALLY I HAD PAID DOWN $21000 ON A $36,000 BALANCE , AND I'AM TRYING TO OBTAIN A NEW FHA LOAN , WE REAFFIRMED OUR HOME AND AUTO LEASE PAYMENTS WITH THE BANK, BUT I WASN'T AWARE THAT THE SBA COULD BLOCK US FROM GETTING A NEW FHA LOAN BECAUSE OF THE BALANCE THAT WAS INCLUDED IN THE... Read more »

Timothy Denison
Timothy Denison answered on Mar 31, 2020

Contact a California Bankruptcy attorney who’s can analyze the situation for you and direct you as to what to do.

1 Answer | Asked in Bankruptcy for Colorado on
Q: In 2002 we filed for bankruptcy at which time all debt was dismissed including a home we rent to my inlaws.

We are now doing a refi on our PRIMARY home (not the rental) and the mortgage company we are using for the refi insists they must include the rental property as a debt even though, according to our bankruptcy records, it was dismissed. We have been voluntarily making payments on the property since... Read more »

Timothy Denison
Timothy Denison answered on Feb 12, 2020

Get a copy of your 2002 bankruptcy and show the lender where it was listed and then discharged and that should resolve the problem.

2 Answers | Asked in Bankruptcy, Contracts, Real Estate Law and Construction Law for Colorado on
Q: When a builder is building a new subdivision - who is responsible for building retaining walls -the developer or the HO

There is an area behind four homes in our area that is a very steep, collapsing hill. The home buyers understood from a design plan that the developer would build retaining walls to prevent the hills collapse. Our builder is now saying it is the responsibility of the HOA - not him

Donald C Eby
Donald C Eby answered on Feb 10, 2020

Who owns and is thus responsible for the retaining wall? Generally, a builder initially owns all common areas, but at some point in the development process the developer assigns ownership of the common areas to the HOA. After this assignment the HOA owns the common areas/walls and is responsible... Read more »

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1 Answer | Asked in Bankruptcy for Colorado on
Q: I just inherited a car worth about 15,000. I have very bad credit. Can they take my car? Can I put it in my sons name
Timothy Denison
Timothy Denison answered on Feb 5, 2020

You can probably protect the car with your state or federal exemptions if you’re filing bankruptcy. Do not put the car in your sons name bc that could be fraudulent. Consult a competent bankruptcy attorney before you make any move.

1 Answer | Asked in Bankruptcy for Colorado on
Q: my daughter has cancer and cannot work but one to two days per week. she needs to file for bankruptcy. needs advice.

She has a student loan and credit cards that she is unable to pay due to the amount required to take care of health needs

Timothy Denison
Timothy Denison answered on Jan 22, 2020

She should seek a forbearance due to her illness unless she has a lot of other debt as well, especially since the student loans are no dischargeable. She should consult a competent bankruptcy attorney to discuss her full options.

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