You may reaffirm (keep paying) the debt and keep the car or you may claim an exemption upon the car if there is equity in the car.

Hearing on motion to suspend must be held first.

If it is for relief from the stay as to that creditor only, it may be granted. If it is to suspend the case from proceeding altogether, it probably will not be granted, and certainly not without a hearing.

You can catch up on your missed mortgage payments by filing for Chapter 13 bankruptcy. If you file for Chapter 13 bankruptcy, your lender can no longer proceed with the foreclosure, and you can cure your default.

Many factors affect the answer but it depends on how much equity you have in your house and how much you are behind.

A good attorney will give his or her preliminary assessment of the case, go over fee arrangements, and discuss with the client whether the case makes sense for the attorney-client team.

You want a lawyer you feel comfortable with. Someone who responds to you with intelligence and... View More

Yes, unless you dismiss your petition or your homestead exemption completely covers your equity in the house. As your house is part of the bankruptcy estate, it likely should not be sold without permission of the court while the case is active.

File a motion to voluntarily dismiss your petition, pay your creditors off, then enjoy the rest of your winnings.

Possibly. Depends on the legitimacy of the debt and why it should not be discharged.

Your recourse depends on the consequences of the failure to close, though since that failure would be a breach of contract, you would be entitled to something.

If you want the title to the car, you can try to work out a deal with the lender. You may get it for less than you owe.

Although you don’t have to pay off secured debts before the trustee distributes part of your plan payments to other creditors, you must pay them off before you receive your discharge.

Your creditors can file an involuntary petition forcing you into bankruptcy. You can either fight it or proceed with the bankruptcy. Most likely, it will be filed as a chapter 7 involuntary, which means a trustee will be assigned by the court. The trustee would be tasked with administering the... View More

Colorado law provides a homestead exemption of $75,000 (or $105,000 if you are over 60 or disabled). If the exemption is properly claimed in Schedule C of your bankruptcy petition, the trustee is bound by it. If you have more than that amount of equity, the trustee has the right to sell your house.... View More

If you miss a payment, then you’ve got to make up that payment at some point. And if you miss too many payments, then the Trustee will seek to dismiss your case.

If you were in a Chapter 13 case that was dismissed before you received a discharge, you would be free to refile immediately. If you haven’t fully recovered financially from the circumstances that caused your Chapter 13 to be dismissed, then you may want to consider filing a Chapter 7 case. You... View More

In formulating a strategy for dealing with the IRS and in evaluating your options, it is critical that you accurately determine the date the collection statute expires. The IRS has incorrectly calculated the CSED on many prior occasions. Consult with an experienced tax professional before providing... View More

For each return that is more than 60 days past its due date, IRS will assess a minimum failure to file penalty. The failure to file penalty runs at a severe rate of 5% up to a maximum rate of 25% per month of lateness.

The rules for determining which spouse is responsible for what debts incurred during the marriage vary between states and largely depend on the type of debt incurred. CO is a separate property state (not a community property state) which means that you are not legally responsible for your... View More

Better not touch the bonus, disclose it to the Chapter 13 Trustee and see what happens.