Get free answers to your Bankruptcy legal questions from lawyers in your area.
answered on Oct 14, 2017
In a no asset chapter 7 the case will usually be closed within a week of the discharge.
Home in PA is a VA loan that we've had for 11 years, and is still underwater (~$60K) since the 2008 crash. We recently closed on our home here in Berthoud, CO, and have virtually no equity built up. Wife laid off last April, only on one income (mine). Our PA tenants just gave notice that they... View More 
answered on Sep 23, 2017
Without knowing your entire financial picture, I cannot determine whether a bankruptcy would be right for you. A bankruptcy would relieve you of liability for the PA property, but I can't determine whether it would protect your other assets. Since you apparently have not lived in Colorado for... View More
I was told by my 32 year old son that he was told "Don't let your father find out". So naturally I want to know whatever it is I need to know.
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answered on Aug 31, 2017
Her filing for bankruptcy should have no impact on the arrears that you owe and I'm guessing she just wants to keep her financial issues private. These should be completely separate legal matters.
Judgement lien awarded to creditor in August, 2010. The judgement/lien was never renewed. It is still showing as unsatisfied, but the SofL in Colorado for a judgement issued in county court is 6 years. Is there a way I can clear this judgement/lien from the court record since the debtor never... View More
answered on Aug 20, 2017
Judgment liens create a new SoL tolling period beyond the SoL for filing suit. In most situations this is 10 years from the date the lien was authorized by the court. Usually, an additional 10 year renewal is allowed. Colorado also has some case law that under the right circumstances can further... View More
What is max amt on value of home - don't want my home touched.
answered on Aug 14, 2017
The Colorado homestead exemption is $75,000, or if you are over 60 years old or disabled, $105,000. You must have a been a Colorado resident for at least 2 years in order to use Colorado exemptions. Any equity over those amounts must be turned over to the trustee to pay creditors. This will usually... View More
answered on Aug 8, 2017
If there are no assets for the trustee to administer a chapter 7 usually takes about 4 months. Talk with a lawyer near you to see if bankruptcy is a good option in your situation. Hope it works out. Good luck!
answered on Jul 21, 2017
While there are exceptions and certain exemptions, a spouse is usually included in an individual's personal bankruptcy filing. This might be different if the bankruptcy relates to a business. Contact a lawyer for details--expect to pay for the advice.
answered on Jul 13, 2017
Yes and no. Eventually, you will be able to successfully get a credit card (the rate, limit, etc. will likely be more unfavorable than if no bankruptcy was filed). Immediately after filing, you likely will not be able to get a credit card.
I am current on my bills but my money is about to run out. I am still a month or more away from descent employment. What can I do.
answered on Jun 20, 2017
Talk with a bankruptcy lawyer in your area. Chapter 7 or 13 may be an option. They can look at your entire situation and advise you what would be best for you to consider. Look on Justia for a lawyer near you. Hope it works out. Good luck!
My mortgage was discharged in bankruptcy in 2010. It's just now going through foreclosure. If I can get a deed in lieu, can I make it part of the agreement that the bank will NOT report the deed in lieu to credit agencies or report it as settled? Can they even report that since they're... View More
answered on Jun 11, 2017
In general, the minimum waiting time after a deed in lieu to apply for a federally backed mortgage is two years. There are no mandated waiting times after for private lender. Having a hefty down payment and the funds to cover closing costs might enable you to obtain a new mortgage immediately after... View More
bankruptcy?
answered on Jun 11, 2017
Chapter 7 bankruptcy doesn't get rid of the mortgage company’s lien on the house. Your discharge only wipes out your personal liability on the mortgage note. If you don’t make your payments, the lender can no longer come after you personally, but it retains the right to take the house back... View More
The lease is rent to own, but tenant can't exercise option to purchase if they are in default. Bankruptcy trustee is trying to purchase my house at the amount stated in lease, then resell at higher rate to pay tenants' debts.
answered on Jun 11, 2017
The automatic stay which begun when the bankruptcy petition was filed will prevent you from giving the tenant a termination notice. You can proceed with the eviction by asking the federal bankruptcy court to lift the stay. The judge could lift the stay because a lease agreement has no effect on the... View More
money back?
answered on Jun 7, 2017
Probably not. Assuming they filed a Chapter 7 liquidation, the company's assets will be liquidated and the proceeds distributed according statutory priorities. Creditors are prohibited from trying to collect debts except through the bankruptcy process. You can file a Proof of Claim with the... View More
answered on May 18, 2017
Their is an online system. It is called PACER. Go to www.pacer.gov and set up an account, and you can find it
I plan on taking out a reverse mtg If I file a bankruptcy after i get the reverse mtg. /what effect would the bankrupty have on the reverse mtg ? would the bankruptcy allow me get rid of the unsecured debt -- would I have to pay anything on the unsecured debt ?
answered on May 4, 2017
Colorado has only one bankruptcy court located in Denver.
Creditor meetings are held all over the state.
answered on Apr 16, 2017
The United States Bankruptcy Court for the District of Colorado is located in Denver. Additional information can be found on the Court’s website. http://www.cob.uscourts.gov/
You should contact a local bankruptcy attorney and schedule a free consultation. The idea of bankruptcy is to... View More
answered on Mar 31, 2017
Yes and no. An employer can ask for a credit report and the report will disclose bankruptcies. The employer can ask about the bankruptcies via the credit check, but cannot technically ask about bankruptcies before the credit check.
answered on Mar 3, 2017
Yes, but it's complicated. If you have been a Colorado resident for at least two years prior to filing bankruptcy, you must use the Colorado exemptions. There are many and they are spread out over several sections of the Colorado Revised Statutes and Rules. Common examples are the $75,000.00... View More
answered on Mar 2, 2017
You always have the option to terminate the attorney-client relationship. While not required, it is highly encouraged that you contact another bankruptcy attorney BEFORE you formally terminate the relationship with the prior attorney. Regardless of the reasons for "firing" the attorney,... View More
answered on Feb 10, 2017
You are correct, the overwhelming majority of student loan debt cannot be discharged in bankruptcy. There is an "undue hardship" exception. This exception is very hard to meet. Functionally the test if whether you will realistically be unable to ever repay the debt (e.g. you are... View More
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