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Colorado Bankruptcy Questions & Answers
1 Answer | Asked in Bankruptcy and Collections for Colorado on
Q: Am I responsible for my husband's medical bills?

My husband did not have insurance and spent the night in the hospital. Now they are trying to garnish my wages.

Kevin Scott Neiman
Kevin Scott Neiman
answered on Mar 22, 2018

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

1 Answer | Asked in Bankruptcy for Colorado on
Q: My wife and i are about to claim chapter 13 the appointment is scheduled 3 days from now, i just received a work bonus

My wife and i are about to claim chapter 13 the appointment is scheduled 3 days from now, i just received a work bonus and need to pay our parents back some money fix our cars and buy a new washer and dryer. The bonus is 5k. If we spend this money on the things i listed will the court deny th he... View More

Kevin Scott Neiman
Kevin Scott Neiman
answered on Mar 22, 2018

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

1 Answer | Asked in Bankruptcy for Colorado on
Q: How do I deal with new Collection Agency creditors during Chapter 7 proceedings?

During my preparation and filing of Chapter 7 - two of my debts were sold to collection agencies. I wasn't aware of that yet - so there weren't included on my Schedule E/F or Creditor Matrix. Instead, rather, I listed the original creditor - since at the time of filing, that's all I... View More

Kevin Scott Neiman
Kevin Scott Neiman
answered on Mar 22, 2018

This is how it should work: You can have your attorney file an amendment to add the creditor and all will be well.

1 Answer | Asked in Bankruptcy for Colorado on
Q: Self employed no assets. Tax lien from a different state 6yrs old. Is it worth paying for bankruptcy?

I moved from California in 2011, made less than 10,000 that year, did not file had no money. Had to move and start over or starve. They have put a lien on my credit score of 11,000. Since I am self employed and am required to pay state and fed myself they cannot take a return from me. As I have no... View More

Kevin Scott Neiman
Kevin Scott Neiman
answered on Mar 22, 2018

For income taxes to be discharged in bankruptcy: they must have been due more than three years before filing bankruptcy, you must have filed your return more than two years before filing bankruptcy, and the taxes must have been assessed at least 240 days before filing bankruptcy. Note that all... View More

2 Answers | Asked in Bankruptcy for Colorado on
Q: Is there an income limit for filing bankruptcy?
David Earl Phillips
David Earl Phillips
answered on Mar 3, 2018

If you are asking can you make to much money to file a chapter 7, the answer is yes. You may fail the means testing which would lead to your chapter 7 being dismissed for abuse of the bankruptcy system. See a bankruptcy lawyer near you and they can advise you of your best option in dealing with... View More

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1 Answer | Asked in Bankruptcy for Colorado on
Q: On November 1, 2017, a Colorado cannabis company, Phoenix Life Sciences, declared bankruptcy and immediately reopened.

How can the new company, Panacea Life Laboratories, using the same equipment, work space, employees, etc, now magically NOT be liable to pay employee wages and other legal debts incurred prior to that bankruptcy?

Timothy Canty
Timothy Canty
answered on Feb 2, 2018

The United States Bankruptcy Court for the District of Colorado website shows no such case filed under that name. Generally when a company files bankruptcy (Chapter 7), it's assets are liquidated and the funds are used to pay creditors. Wages owed to employees have one of the highest... View More

2 Answers | Asked in Bankruptcy for Colorado on
Q: What property can you leave out of a bankruptcy?
Timothy Canty
Timothy Canty
answered on Jan 24, 2018

You can't leave any of your property out of a bankruptcy. You may be able to exempt certain property, but you must disclose everything. Typical Colorado exemptions are the $75,000.00 homestead exemption ($105,000 if one is over 60 or disabled), $7500 for up to two vehicles ($12,500 if over 60... View More

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1 Answer | Asked in Bankruptcy for Colorado on
Q: Will my garnishment stop if I file bankruptcy?
David Earl Phillips
David Earl Phillips
answered on Jan 10, 2018

Yes. Almost always a bankruptcy filing will stop a garnishment of a paycheck by a creditor. The exception might be some type of criminal court matter or child support issues. See a local Bankruptcy lawyer in your area to determine your best options and to see if bankruptcy might work for you. Hope... View More

1 Answer | Asked in Bankruptcy for Colorado on
Q: Does filing personal bankruptcy impact your ability to take out loans for a business you own?
David Earl Phillips
David Earl Phillips
answered on Jan 2, 2018

It could, especially if you were ask to guarantee the loan or were ask to be a co-signor. Talk with a local Bankruptcy attorney near you and let them look at your situation and see if Bankruptcy would be a good option or not. Hope it works out. Good Luck.

1 Answer | Asked in Bankruptcy for Colorado on
Q: Is there any way to file for bankruptcy so I can get rid of my college loans?
William Foster
William Foster
answered on Dec 28, 2017

Discharging student loans is very difficult unless you can prove undue hardship. To prove undue hardship you must file bankruptcy, list the student loans, and file a separate motion against the student loan provider. This will start an adversarial proceeding in bankruptcy court and the matter will... View More

1 Answer | Asked in Bankruptcy for Colorado on
Q: I would like to file bankruptcy on vehicle that is under me and ex-boyfriend.

Can my name be removed from the loan and the title of the car so I am not responsible?

William Foster
William Foster
answered on Dec 28, 2017

Yes, you will no longer be liable for the loan if you include the auto loan in the bankruptcy. Your ex will remaining liable. The bankruptcy will not affect the title to the vehicle. You should contact the DMV regarding removing yourself from title.

1 Answer | Asked in Bankruptcy and Consumer Law for Colorado on
Q: How do i report a storw in colorado that wont let me use bathroom i have IBS
William Foster
William Foster
answered on Dec 28, 2017

Stores are not required to provide bathrooms to customers.

1 Answer | Asked in Bankruptcy for Colorado on
Q: As Chapter 7 filed equity for home exemption + realtor only. Now up $40k if $25k structural repaired. Who pays repairs?

This is Colorado, I'm disabled. At time of Chapter 7 filing there was no equity in home beyond exemption + realtor fees even if home was in shape to sell. Since filing, Zillow shows additional $40k appreciation.

Structural and radon issue fixes would cost $25k. Who pays repairs? Even... View More

William Foster
William Foster
answered on Dec 28, 2017

The bankruptcy trustee will use the Fair Market Value of the home when deciding whether to list the property for sale. The trustee will send an appraiser to value the home. The appraiser will likely consider the repairs when valuing the home. If the home cannot pass inspection as a result of needed... View More

1 Answer | Asked in Bankruptcy and Divorce for Colorado on
Q: Am I able to file bankruptcy after my divorce is final?
Stephen J. Plog
Stephen J. Plog pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 28, 2017

Yes, you can. However, under bankruptcy code you cannot discharge any child support or alimony (maintenance) obligations. Additionally, you cannot generally discharge any property or debt obligations owed to the other party. If there is marital debt you are responsible for which is also in the... View More

2 Answers | Asked in Bankruptcy for Colorado on
Q: If wife and I file a chapter 7 will we lose our vehicle if the private party value is $15,500 in Colorado ?
Cristina M. Lipan
Cristina M. Lipan
answered on Dec 14, 2017

You may be able to keep it, although there is a possibility that the trustee will want to sell it. If you have any financing, that needs to be taken into consideration. The federal vehicle exemption is $2,400 for one vehicle (of the portion you own, the equity). Federal also has an additional... View More

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2 Answers | Asked in Bankruptcy for Colorado on
Q: Filed chapter 7, received full no asset discharge. Now have a couple of collection agencies attempting to collect debts.

These debts were listed in said bankruptcy. My attorney has quit practicing and I have gotten no information on anyone handling his clients. I do remember him stating an attempt to collect a debt after filing/ discharge was $1000 fine. If so who gets the $$$ when proved and who do I complain to?... View More

David Earl Phillips
David Earl Phillips
answered on Dec 7, 2017

You would have an action for discharge violations. See another bankruptcy lawyer in your area and they can advise you how to proceed. Most lawyers will take these type matters and obtain their attorney fees from the recovery of damages. Hope it works out. Good luck!

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1 Answer | Asked in Bankruptcy for Colorado on
Q: If I declare bankruptcy will I lose my car?
Cristina M. Lipan
Cristina M. Lipan
answered on Dec 6, 2017

Not necessarily. You are entitled to certain exemptions for personal property. For one vehicle, the exemption varies from state to state, but it's approximately $3,000. If you have more than (about) $3,000 of equity in your vehicle, the trustee may ask for the difference or else sell the... View More

2 Answers | Asked in Bankruptcy for Colorado on
Q: Are there any pro bono lawyers for first time filing of bankruptcy?
Cristina M. Lipan
Cristina M. Lipan
answered on Dec 4, 2017

Not really. However, there are pro bono organizations that provide help preparing the petition.

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2 Answers | Asked in Bankruptcy for Colorado on
Q: I am a co signer on my daughters car. She is filing bankruptcy and will include the car. Will I still be liable?

I am scared I will end up getting sued for the amount. Is there anything I can do to protect myself?

David Earl Phillips
David Earl Phillips
answered on Nov 7, 2017

Read the terms of the contract. Generally, you would still owe the car loan if your daughter files bankruptcy. You may wish to see an attorney yourself to see what your options are. Hope it works out. Good luck!

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1 Answer | Asked in Bankruptcy for Colorado on
Q: If my son files for bankruptcy, does it wipe away his student debt?
Stuart Nachbar
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Stuart Nachbar
answered on Nov 1, 2017

Student loans are not usually dischargeable unless an adversary complaint is filed along with it and the Court determines undue hardship which is very difficult

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