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…
Continue reading ›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…
Continue reading ›If you are about to file for bankruptcy in Denver, the actions you take or omit can greatly impact the outcome of your case. By preparing for what lies ahead, you may be able to save yourself from dismissal of your case or your discharge being denied. Some points to keep in mind Here are…
Continue reading ›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.…
Continue reading ›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…
Continue reading ›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…
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