Bankruptcy Blog

Chapter 7 bankruptcy generally provides for complete liquidation of the debtor’s non-exempt assets. Chapter 7 This involves the bankruptcy trustee selling all of the debtor’s assets, subject to certain statutory exemptions, and paying the creditors with the liquidation proceeds. In most cases the trustee will not open up an asset case unless the non-exempt amounts total…

When you file for protection under the Bankruptcy Code you must attend at least one hearing, perhaps more, depending on various factors specific to your case. Certainly you are entitled to attend any and all hearings that are called for your case, although not all motions or hearings require the attendance of the debtor. Depending…

To directly answer the question, student loans can be discharged in bankruptcy. This topic came arose in the news last year, when the Department of Education released an official policy position on July 7, 2015 when it stated that it would not oppose the discharge of government backed student loans in bankruptcy proceedings if the…

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 your spouse are in the process of…

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 to keep keep both their fixed and variable costs low.…

Bankruptcy Is Your Right Bankruptcy is one of the few laws or legal principles outlined in the United States Constitution. The founding fathers knew that in order to form a more perfect union (to use the words of Abraham Lincoln) the federal government had to allow for a safety valve in the case of debt…

Every few years a new study or survey comes out that reinforces what most bankruptcy attorneys can tell you at least anecdotally–medical bills are one of the most common reasons for bankruptcy. For example, an article in the August, 2009 edition of the New England Journal of Medicine found that “medical problems” contributed to approximately…

Are you currently dealing with serious debt in Colorado? You may be facing the frightening and very real prospect of your creditors gaining the right to garnish (or withdraw funds directly) from your bank accounts in order to settle your unpaid debts. These situations, also known as bank levies, result in a loss of control…

If you have significant debt, you may already be aware that filing for bankruptcy can ease this pressure and serve as an avenue towards debt relief. To keep expenses as low as possible in this already financially strenuous time, you may be wondering if filing for bankruptcy is possible without an attorney. The short answer…

One of the common points of confusion in Colorado bankruptcy law is the difference between insolvency and bankruptcy. Because these two are similar concepts, they are often used together or interchangeably. Allow a Denver Bankruptcy Attorney to explain the proper definitions behind some of the terms involved is a first step toward turning your finances…