Bankruptcy Blog

On May 15, 2017 the U.S. Supreme Court ruled in the case of Midland Funding, LLC v. Johnson, 581 U.S.____(2017), that debt collectors and purchasers are not in violation of federal law when pursuing debts during a Chapter 13 bankruptcy that they know to be beyond the statute of limitations. The 5-3 decision was a…

When you file for Chapter 7 bankruptcy, you might wonder what will happen to your potential tax refund. Whether you lose that refund depends mostly on when you file for bankruptcy. There are, however, some steps you can take to make sure your bankruptcy does not prevent you from receiving your tax refund. If you…

With the number of people who lose their homes to foreclosure each year, it might seem like an impossible task to get a modification to your mortgage loan. However, it is possible, and doing so could help you avoid turning to bankruptcy for relief, or can help you keep your home in a Chapter 7…

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…

Most homeowners belong to homeowners’ associations, also known as condominium corporations. These associations handle everything from general maintenance, setting rules for landscaping and garbage pickup to arranging community events and member recognition awards. Just like any other organization that runs on money, an HOA can go bankrupt, especially if it mismanages its funds over time.…

The Colorado Fair Debt Collection Practices Act (CFDCPA) was reviewed as part of the sunset and sunrise review period by the Department of Regulatory Agency at the end of 2016. The Senate Judiciary Committee for Colorado has introduced a bill to implement many of the recommendations from the review. SB17-216, if passed, will include a…

It can be overwhelming to get calls and letters that state you owe more money than you can afford to pay. It’s certainly understandable to feel helpless and it may feel like you have run out of options as the bills mount. However, you do have rights that will allow you to slow the process…

Colorado Means Test: Frequently Asked Questions Am I Eligible for Chapter 7 Bankruptcy Protection in Colorado Under The Means Test? If you are considering Chapter 7 bankruptcy protection in the state of Colorado, a threshold issue is whether you are subject to the median income test. If you are, the next issue is whether you…

How Will Bankruptcy in Colorado Affect Your Credit Score? If you are exploring your options with a bankruptcy in the state of Colorado, there are many things to consider when it comes to your credit score. Bankruptcy will initially have a negative impact if you have a solid credit score (650 and above) that includes…

Unmarried Couples, Partnerships, and Corporations Must File Separate Petitions If you are an individual and have a business entity, such as an LLC or a partnership, you cannot file a single petition for yourself and that business. In such a case you will note your interest in your company in your individual filing, e.g., John…