Articles Posted in Bankruptcy

What are the effects of social security benefits in a bankruptcy proceeding? That depends on whether you are filing a Chapter 7 Bankruptcy or a Chapter 13 bankruptcy. Effects of Social Security Benefits in a Chapter 7 Bankruptcy In Colorado, and elsewhere, social security benefits are exempt in a bankruptcy proceeding. This means the Chapter…

The ability to keep your car or truck in bankruptcy is often a major consideration when filing a Chapter 7 or Chapter 13 bankruptcy. A dependable vehicle is often essential to keeping a job or getting the kids to school. Fortunately, in a Chapter 7 bankruptcy, you can almost always keep your car or truck…

In a Chapter 7 bankruptcy you will need to know how to answer a Trustee Information Sheet. After the bankruptcy case is filed, a meeting of creditors takes place in about thirty days. Before or at the meeting of creditors, various documents will be required to be submitted to the Trustee. One such document is…

Farmers may have an alternative to a Chapter 7 bankruptcy liquidation, Chapter 13 adjustment of debts, or a Chapter 11 reorganization of debts. The alternative is Chapter 12, an adjustment of debt for a family farmer. Qualifications of a Chapter 12 Family Farmer (Non-Individual) Chapter 12 of the Bankruptcy Code includes both family farmers and…

The question often arises to what extent are divorce debts discharged in bankruptcy?A divorce often generates several different types of debts to a divorced person considering filing for bankruptcy. Chief among them are: Domestic Support Obligations The Bankruptcy Code exceptions to discharge of divorce debts are divided into two categories. One category is domestic support…

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…

How long after bankruptcy to qualify for a home mortgage? People are often concerned whether they will be able to purchase a home or qualify for a home loan after bankruptcy.The answer is not as long as you might think. It usually depends if the bankruptcy was a Chapter 7 liquidation or Chapter 13 payment…

A couple of days after your file a Chapter 7 bankruptcy a bankruptcy trustee will be assigned to your case. About thirty days after you file your bankruptcy, you and your attorney will be meeting with the assigned Chapter 7 bankruptcy trustee at the meeting of creditors. The meeting of creditors is required under Section…

Recently, a higher court held that a private student loan from a non-accredited school was discharged in bankruptcy. There are several types of education loans that may be non-dischargeable in bankruptcy. The case was in re Crocker, in the United States Fifth Circuit Court of Appeals. One type of loan that may be excepted from…

Background Until now it has been extremely difficult to get rid of student loans in bankruptcy for most debtors. In most cases the debtor in bankruptcy must prove “undue hardship” on the debtor or the debtor’s dependents in the event the debt is not discharged. Most courts rely on the Brunner test to interpret undue…