Chapter 7 vs. Chapter 13 Bankruptcy

Chapter 7 Chapter 7 bankruptcy generally provides for complete liquidation of the debtor’s non-exempt assets. 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 […]

WHAT YOU SHOULD EXPECT IN BANKRUPTCY COURT?

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 on the exact nature of your case, your attorney may be required to file a motion to extend the automatic stay in your case or perhaps a motion to void a lien as it interferes with a debtor's right to an exemption. If a motion or other matter is contested, and requires findings of fact, you will most likely need to attend the hearing.

Do Student Loans Qualify for Bankruptcy?

he attorneys of Long & Long, P.C. have decades of combined and individual experience representing both debtors and creditors in any factual or legal situation involving bankruptcy. In any case you need the most experienced and skilled bankruptcy attorney possible. Long & Long, P.C. can be reached at (303) 832-2655.

EXPLAINING BANKRUPTCY TO YOUR LOVED ONES

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 filing for bankruptcy. Sometimes this may seem intrusive or overly protective but most of the time it is simply your loved one showing interest and concern. Explaining bankruptcy to them may help to ease some of the more awkward or uncomfortable conversations that you may have to deal with. It is also important to keep in mind for your own peace of mind that filing for bankruptcy is the proper thing to do and will allow you to move forward. Take the following example.

The Unique Challenges of Small Business Bankruptcy

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 one invaluable tool for the small business owner to help lower high costs by either letting them end their contracts without any threat of legal damages, or, at the very least a specific formula to determine with certainty what those costs will be. At the same time the small business owner may also re-negotiate with existing creditors to help lower their overhead costs.

What is Retirement Bankruptcy?

With the advent of the retiring baby boomers it is not surprising that society is grappling on how to protect the baby boomers retirement nest egg from predatory and unscrupulous individuals as well as otherwise law abiding creditors who would have no compunction against suggesting that someone withdraw funds from their exempt retirement account or defer payment to their retirement to pay off their debts. Indeed, many baby boomers are held back from retirement due to debt.

Do Medical Bills Qualify for Bankruptcy?

If you find yourself overwhelmed by unpaid medical bills like tens of millions of Americans you owe it to yourself and your family to speak with an experienced, patient and practical law firm. As a former Trustee for the United States Bankruptcy Court, Martin Long, of Long & Long, P.C. has the experience and knowledge of the bankruptcy code and law to help you through your time of difficulty. You can contact us by calling (303) 832-2655 or by filling out the contact form on this page.

Can You File Bankruptcy By Yourself?

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 is: yes, you technically can do it yourself, however by not consulting an attorney you take on a number of risks that can easily be avoided. Filing on your own is possible, although consulting an attorney for advice at the very least is strongly recommended.

Insolvency Versus Bankruptcy: A Primer

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 […]