Articles Posted in Exempt Assets

If you’re overwhelmed by debt and wondering, “How does bankruptcy work?” you’re not alone. Bankruptcy can be a powerful tool to help you regain control of your finances, but the process can seem complex. At LONG & LONG P.C., our experienced bankruptcy attorneys are here to simplify it for you. In this guide, we’ll walk you through…

If you’re considering bankruptcy, you might be tempted to transfer assets—like money, property, or valuables—to friends, family, or another account to “protect” them from creditors. However, transferring assets before filing bankruptcy can have serious legal consequences, potentially jeopardizing your case or even leading to criminal charges. As experienced bankruptcy attorneys, we’ve seen how these missteps…

Here is what happens to your property during and after bankruptcy.

Should I hire an attorney to file bankruptcy?

There is a new garnishment law in Colorado. For many years wages have been exempt to some extent in Colorado. An exemption means it cannot be taken by the judgment creditor or the bankruptcy trustee. Wage exemptions are crucial for bankruptcy purposes because the Colorado state exemptions are the only bankruptcy exemptions a Colorado resident…