Chapter 13 - Part 2

Published on 31 July 2009 by kdheupel in Bankruptcy Blog

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Once you have filed a Chapter 13 petition, an impartial trustee will be appointed to administer your case. The trustee will evaluate your case and serve as a disbursing agent, collecting payments from you and distributing them to your creditors. Filing the petition automatically stays (stops) most collection actions against you and your property. As [...]

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Chapter 13 - Part 1

Published on 29 July 2009 by kdheupel in Bankruptcy Blog

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A Chapter 13 bankruptcy is often referred to as a wage earner’s plan. If you have a regular income it enables you to develop a plan to repay all or part of your debts. Under this Chapter, you will propose a repayment plan to creditors, with payment to be made in installments over three to [...]

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Chapter 11 Part 2

Published on 28 July 2009 by kdheupel in Bankruptcy Blog

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If you have commercial or business activities (other than primarily owning or operating real property) with total debts of $2,190,000 or less, you are a “small business debtor.” In a small business case, you must:

submit the most recently prepared balance sheet;
submit a statement of operations;
submit a cash-flow statement;
submit the most recently filed tax return or [...]

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Chapter 11 Part 1

Published on 27 July 2009 by kdheupel in Bankruptcy Blog

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Chapter 11 of the Bankruptcy Code allows you to propose a plan of reorganization to keep your business alive and pay creditors over time. Individuals can also seek relief in Chapter 11. But typically, Chapter 11 is filed with the purpose of reorganizing a business, which may be a corporation, sole proprietorship, or partnership. The [...]

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Chapter 7

Published on 24 July 2009 by kdheupel in Bankruptcy Blog

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In the news we hear about individuals, or companies, filing for bankruptcy on a daily basis.  Recently Stephen Baldwin filed for Chapter 11 bankruptcy, GM filed for Chapter 11 bankruptcy, CIT Group may be filing for Chapter 11, as may the parent company of the Chicago Tribune. Detroit Public Schools are considering filing for Chapter [...]

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The primary purpose of the federal bankruptcy laws that were passed by Congress is to create the opportunity for those individuals who have burdensome debts to begin anew. The Supreme Court stated the intent of the bankruptcy law in a 1934 decision:
“[I]t gives to the honest but unfortunate debtor . . . a new opportunity [...]

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In this age of online services you might be considering filing for bankruptcy without an attorney, via the internet. It is essential, however, that you consider the vital role a Denver bankruptcy attorney can play.
A bankruptcy lawyer will:

assist you in dealing with bill collectors;
help assess your specific situation;
most importantly, be your advocate during this trying [...]

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As a bankruptcy lawyer in Denver, Colorado, I see a variety of responses to filing bankruptcy. Some people anticipate a major burden being lifted from their shoulders and their primary reaction is one of relief. Others, however, experience a wide range of troublesome emotions. In meeting with my many Denver bankruptcy clients, I often observe [...]

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Financial Aid and Bankruptcy

Published on 15 July 2009 by kdheupel in Bankruptcy Blog

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With a new school year about to begin, I thought it would be a good time to examine the issue of financial aid and bankruptcy. The two questions frequently asked are one, is a student eligible for financial aid after filing for bankruptcy, and two, will filing for bankruptcy discharge one’s student loan.
In regard to [...]

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In response to a request posted as a comment on my June 22nd blog, here is additional information on the Supreme Court case regarding freedom of speech and bankruptcy.
“First, the plaintiffs contend that the prohibition against a consumer debtor with limited assets to ‘incur more debt in contemplation of such [debtor] filing’ for bankruptcy, 11 [...]

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