There are several types of exemptions that allow you to keep particular assets even if you are filing for bankruptcy. When you file for Chapter 7 in the state, you may be required to give up part or all of the money you get from any lawsuits. Your lawsuit proceeds may be exempted, meaning that you can keep them safe from bankruptcy creditors. However, Colorado has limited safety net. Through Chapter 7, you can discharge the majority of your debts. In exchange for this wiping out your debts, however, the bankruptcy trustee may mandate that you turn over some of... Read More
Category Archives: Bankruptcy
What Can Colorado Bankruptcy Do For Me?
With so many myths out there about what bankruptcy in Colorado can and cannot do, it’s worth an explanation of some of the actual benefits associated with bankruptcy. Knowing this can help you make an informed decision about when it’s time for a fresh start by filing bankruptcy. One of the key questions about bankruptcy is how it will impact a pending foreclosure on your home. While Colorado bankruptcy doesn’t automatically halt mortgages and other property liens with no payment, filing for bankruptcy can stop foreclosure on your mobile home or house, which is a source of great relief to... Read More
Senior Citizen Bankruptcy in Greeley, CO
Even in the modern day and age, bankruptcy has an image problem. When people consider bankruptcy today, they still see shifty folks who have mismanaged their finances or flamboyant investors who have lost everything after living lavishly beyond their means. In other words, even the bankruptcy that Greeley, CO sees has a certain element of shame attached to it. And while this is unfair for anyone, it is especially unfair for senior citizens who are running out of retirement funds. Often, the shortfall in funding is not due to anything the person has done wrong or foolishly, but due to... Read More