In order to start the process for filing for bankruptcy, the first thing you must do is gather up all of your financial records, basically putting together an inventory of everything you own and everything that you owe. In particular, you will need: A list of all of your assets, such as your house, car(s), household stuff, […]
That all depends on whether your case is filed under Chapter 7 or Chapter 13. Assuming that you’ve provided your attorney with all of the information needed to get the case filed, for a Chapter 7 case, you should figure that it will take about four to five months until you get your discharge. For […]
You may want the fast fresh start of a Chapter 7 case, but sometimes your circumstances scream out for a Chapter 13 instead. It’s true—for some people Chapter 13 provides tremendous tools not available under Chapter 7. Now all you have to do is qualify for it. Qualifying for Chapter 13 is completely different than […]
Not everyone who wants to file a Chapter 7 “straight bankruptcy” can do so. But most can. There’s probably no topic that causes more confusion to people thinking about filing bankruptcy –do they qualify? Let me set the record straight. 1. Inaccurate publicity: Many people think it’s difficult to qualify for filing bankruptcy because of […]
Rich Americans are buying again. The rest of us—not so much. The difference between the sales figures at luxury stores as compared to middle- and low-end ones shows who is coming out of the “Great Recession” doing pretty well and who is not. An article in the business section of the New York Times a […]
As a bankruptcy attorney in Colorado Springs, I’ve found that a lot of people get pretty freaked out thinking about going to their Creditors Meeting. In order to reduce that anxiety, let me explain the purpose of the meeting and what generally happens at it: The Creditors Meeting is also commonly called the “Section 341 […]
Chapter 13 and Chapter 7 are both chapters of the Bankruptcy Code, otherwise known as Title 11 of the U.S. Code. They are the most commonly used chapters for people who are unable to pay all of their debts. The most basic differences between them: In a Chapter 7, you agree to give up your […]
For a lot of people probably the scariest thing about filing for bankruptcy is the fear of losing everything they have: their house, their car, even their family pictures and baseball card collection. Well, in most cases, you don’t have to worry about losing all of your stuff, since most of it will be “exempt” […]
If you call me and ask if you “qualify” to file bankruptcy, one of the first questions I’ll ask is: “Have you ever filed for bankruptcy in the past?” How you answer that question is the first step in determining whether you will be able to receive a discharge if you file for bankruptcy now. […]
An article in today’s Gazette* summed up the current state of the economy in the Pikes Peak region, calling it a “severe recession” that has cut sales for more than 70% of businesses in the area. Unfortunately, the likely result in the near future will be more businesses cutting back or closing and more of our […]
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