Bankruptcy Blog

This has been a tough year for retailers. As of June, more than 300 have filed for bankruptcy, up 31 percent from the same period in 2016. While most of those filings were made by small businesses with a single location, there are plenty of household names that have also filed for bankruptcy so far…

Gymboree, a company that specializes in children ‘ s clothing, recently filed for Chapter 11bankruptcy as the weight of its debts became inescapable. The retailer currently has more than $1.4 billion in debt, and looks to eliminate $900 million from that total figure. The company will close at least 375—and up to 450—of its 1,281…

Bankruptcy exemptions are key considerations in both Chapter 7 and Chapter 13 cases. These exemptions allow you to keep a certain amount of your assets protected from your creditors. These exemptions can only protect certain types of property, such as a motor vehicle. Your attorney needs to analyze the available exemptions for the applicable state.…

Chapter 13 bankruptcy might be a great option for you to restructure your debt and secure the financial relief you need—if you are eligible for it. But how do you determine your eligibility to file for Chapter 13? Below is a general overview some key considerations of which you should be aware. Businesses Are Ineligible…

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…