Bankruptcy Blog

Follow these simple tips to effectively deal with debt collectors in Colorado. 

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The Means Test Requirement for Chapter 7 Bankruptcy This  Chapter 7 Bankruptcy page sheds light on the intricacies of bankruptcy laws and proceedings, specifically focusing on the parameters of Chapter 7. Central to understanding this kind of bankruptcy is discussing the ‘means test,’ which is a determining factor for qualifying for Chapter 7. This test…

The Impact of Bankruptcy on Your Credit Score Bankruptcy is a significant financial event that can affect your credit score. It is essential to understand how bankruptcy affects your credit score, as this score plays a crucial role in your ability to secure loans, obtain favorable interest rates, and even rent an apartment or get…

Learn The Steps in a Chapter 7 Bankruptcy Remember to consult with a competent attorney at LONG & LONG P.C. throughout this process for a comprehensive understanding and smooth navigation of the bankruptcy process. Our law firm is well-versed in helping clients through these steps and can provide the necessary guidance. Call now at 303-832-2655!

The difference between secured debt and unsecured debt. Secured Debt A secured debt is a debt that is backed by pledged collateral, a lien, a mortgage, or other instruments such as a properly recorded judgment. Clients often ask what is a secured debt. Think of it this way. When you purchased your home you pledged your home…

The Four Main Players in a Bankruptcy In every bankruptcy case there are at least four different players.    The law firm of Long & Long, P.C. have decades of combined experience in bankruptcy. Martin Long is a former Chapter 7 Trustee, ensuring that clients’ rights, property, and money is protected from creditors and others. Call Long…

Bankruptcy puts your family in a better financial position It is a common thing for family members to help out other family members with their finances or with larger ticket items, such as a house, a car, large appliances, et cetera. So, it is also natural for some of them to inquire as to why you and/or…

A Small Business Bankruptcy can often help a small business. If you own a small business, you know that there are many considerations and challenges to keeping your business afloat and your revenue flowing into your company. In addition to the necessity to keep the revenue flowing, the small business owner must do their best…

Married couple filing jointly.