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How long after bankruptcy to qualify for a home mortgage? People are often concerned whether they will be able to purchase a home or qualify for a home loan after bankruptcy.The answer is not as long as you might think. It usually depends if the bankruptcy was a Chapter 7 liquidation or Chapter 13 payment…

A couple of days after your file a Chapter 7 bankruptcy a bankruptcy trustee will be assigned to your case. About thirty days after you file your bankruptcy, you and your attorney will be meeting with the assigned Chapter 7 bankruptcy trustee at the meeting of creditors. The meeting of creditors is required under Section…

Recently, a higher court held that a private student loan from a non-accredited school was discharged in bankruptcy. There are several types of education loans that may be non-dischargeable in bankruptcy. The case was in re Crocker, in the United States Fifth Circuit Court of Appeals. One type of loan that may be excepted from…

What happens when someone transfers assets prior to filing bankruptcy? In prior articles we explored transfers within 90 days, two years, and four years prior to filing bankruptcy. This article explores transfers to a self-settled trust within ten years before filing bankruptcy. Transfers to a Self-Settled Trust Within Ten Years of Filing a Chapter 7…

In Colorado a homeowner is entitled to a $75,000 homestead exemption on the home he owns and occupies. If the homeowner or his or her spouse is 60 years of age or over, or disabled, the homestead exemption is $105,000. So, how does the homestead exemption protect your home when you file bankruptcy? Basically, it…

CHAPTER 7 BANKRUPTCY TIMELINE A Chapter 7 bankruptcy timeline typically consists of a series of important events or steps taken before and after filing the case. A timeline of those events are: STEP 1. Credit Reports – Obtain free credit reports at www.annualcreditreport.com. STEP 2. Creditor Listing/ Financial Inf o – Gather your bills and…

You can keep your car in both a Chapter 7 bankruptcy and a Chapter 13 bankruptcy provided you meet certain criteria. In a Chapter 7 bankruptcy you first look to see if the vehicle is an exempt asset. Colorado currently provides a motor vehicle exemption of $7,500. The exemption is $12,500 if you or a…

When a Chapter 7 bankruptcy is filed and a discharge is entered, and so long as the debtor did not sign a reaffirmation agreement, the lender’s only recourse in the event of a missed payment is to recover the collateral. The Chapter 7 Bankruptcy discharge precludes the lender from holding the borrower personally liable on…

If you have creditors or debt collectors calling you about a balance you have been unable to pay off, it’s understandable if your instinct is to ignore them. Unfortunately, neglecting the problem will not make it go away—sooner or later, you must confront your debt and the creditors that hold it. The good news is…

As a Bankruptcy Attorney, I occasionally have clients ask, “Can I change from one chapter to another under the bankruptcy code? And if so, which chapter should I file under?” The short answer is: Yes . You may convert from a Chapter 7 to a Chapter 13, and vice-versa, with certain restrictions and limitations. A…