In a prior blog I mentioned the fact that this is a good time to discuss issues related to taxes and bankruptcy. So here is some information you will need regarding the Colorado Chapter 13 bankruptcy trustee’s recommended procedures for submitting your tax returns. There is a new email address for you to submit your [...]
After my last blog I thought it might be helpful to remind you of the signs that indicate you should consider filing bankruptcy, sooner rather than later. It may be time for bankruptcy if any of the following situations apply to you:
if you are borrowing money to pay for any of your debts
if you are [...]
Wendy Kaufman of NPR wrote an article last week that examined the dramatic rise in bankruptcy filings. She discussed the fact that more people are now filing Chapter 7 bankruptcy than Chapter 13. To illustrate how bankruptcy is a respectable means for an individual to get a new start, she describes the situation of a [...]
Last week U.S. News & World Report had an article about last year’s foreclosure crisis. Greater than 2.8 million properties were foreclosed in 2009 which is an increase of twenty-one percent from 2008 and an increase of one hundred twenty percent from 2007. Even more homeowners appear to be heading toward foreclosure this year with [...]
Stacy Johnson, the author of the Smart Spending Blog on msn.com, wrote an illuminating article on Wednesday about the issue of bankruptcy. She learned from a retired gentleman referred to as Ron that there are times when bankruptcy is one’s only choice-an intelligent one at that. Usually people do file for bankruptcy when there is [...]
Many people don’t know that they can be forced into bankruptcy without having filed a petition. This is referred to as an “involuntary bankruptcy.” Involuntary bankruptcy may be initiated under a Chapter 7 or Chapter 11 bankruptcy only. You cannot be forced into a Chapter 13 bankruptcy.
You may be forced into an involuntary bankruptcy if [...]
If you are filing for a Chapter 7 bankruptcy, you may file an application to waiver the filing fee at the same time you file your bankruptcy petition. When your Chapter 7 petition is accompanied by a fee waiver application, the bankruptcy court should initiate and process your case in the same manner as other [...]
According to the BAPCPA changes to the Bankruptcy Code, the bankruptcy trustee is obligated to send a letter to the custodial parent (recipient of the child support) to advise him or her that his or her ex-spouse has filed for bankruptcy.
Child support debt is not dischargeable and the Bankruptcy Code does not provide for a [...]
As I have said many times, any debts that you owe when you file bankruptcy are subject to being discharged. But after your case is filed any new debts that arise are usually not discharged. In most Chapter 7 bankruptcy cases, any debt accumulated before the date you file may be dischargeable; whereas debts accumulated [...]
Today I want to follow up on yesterday’s discussion about adversary proceedings as they relate to you as a debtor. In a bankruptcy case you can file a lawsuit for more than one reason. As I stated such a lawsuit is called an adversary proceeding.
In this difficult economy, debt collectors are attempting a variety of [...]
