When filing for bankruptcy protection, many consumers are worried about the impact a bankruptcy filing will have on their credit scores. The impact that bankruptcy will have on your credit will depend on a number of factors but, in some cases, bankruptcy can be the quickest route to rebuilding your credit. Credit Bureaus consider a…
For the vast majority of borrowers, student loans are not dischargeable in bankruptcy. This is true for both government loans and private loans (lawmakers eliminated the distinction between government and private loans in the 2005 amendments to the Bankruptcy Code). Student loans can be discharged for those who can show that the loans are an…
Recent Colorado Bankruptcy Court decisions have made it clear that owners of Colorado’s Marijuana Businesses are not entitled to bankruptcy protection in many cases. The rationale is that, because Colorado’s marijuana businesses are illegal under federal law, these business cannot receive the benefits of federal bankruptcy laws. Colorado Bankruptcy Courts have said: “Unless and until…
Navigating the Colorado legal system can be complex and frustrating. A knowledgeable Colorado attorney can help avoid many pitfalls; however, hiring an attorney is not always practical or possible. The United States legal system affords individuals the right to represent themselves. A litigant representing himself or herself is known as a pro se litigant. There are many…
When a bankruptcy is filed, an automatic stay goes into effect pursuant to 11 U.S.C. Section 362. The automatic stay is an injunction that prevents all actions by creditors including continuing lawsuits, garnishing wages and demanding payment. The automatic stay begins the moment a bankruptcy is filed. The automatic stay will generally end when debts…
Please read our disclaimer Debt collection lawsuits can be some of the worst lawsuits to defend. Attorneys representing debt collection firms are often over-worked and unable to give much attention to any single case. One of the most common problems I see in debt collection lawsuits is improper service of process. That is, the attorney…
Just because you know you have financial problems does not mean you know the solution. Waiting to explore your debt solutions options can be a big mistake and can cost you thousands of dollars. Whether the ultimate solution is debt settlement, bankruptcy or something else, knowing the direction you are heading will allow you to…
The average Chapter 7 is an uncomplicated process and takes approximately five to six months. A Chapter 7 Bankruptcy is a liquidation process conducted by a bankruptcy Trustee. Bankruptcy law affords certain exemptions which can be used to protect personal assets and real estate. Any non-exempt assets can be liquidated in order to raise money…