A common question I get as a bankruptcy attorney is, “how does filing for bankruptcy affect my credit score?” Unfortunately, as is common with the law, the answer is, “it depends.” The first consideration is where your credit stands before filing bankruptcy. If your credit score is 800 and you have never missed a payment,…
Is it better to settle your debts or file bankruptcy? As with most legal issues, that greatly depends on your specific circumstances but this article will address when debt settlement may be a viable alternative to bankruptcy. Some debts are much easier to settle than others. For instance, credit card companies will usually settle for…
If you have called around to bankruptcy lawyers in Colorado to ask how much it costs to file bankruptcy, you are probably frustrated their answers. Most bankruptcy lawyers will not quote a price for their services until they have analyzed your case. This is because bankruptcy attorneys generally charge a flat-fee instead of the more…
A Chapter 13 bankruptcy requires a person to repay some of his or her debts (unlike a Chapter 7 liquidation). Although there can be benefits to a Chapter 13, generally, people file Chapter 13 because they make too much money to file a Chapter 7 bankruptcy. In a Chapter 13, a debtor must pay some…
On July 1, 2015, amendments to Colorado’s bankruptcy exemptions will take effect. The amendments will increase the amount of many of the exemptions for people seeking bankruptcy protection. This means that Chapter 7 debtors can protect more of their assets from liquidation and Chapter 13 can potentially pay less to their creditors. One of the…
Like most large cities, Denver has many bankruptcy attorneys offering their services and it is hard to know which attorney will best suit your needs. One of the main factors to be considered is the price. Most bankruptcy attorneys offer flat fee representation (meaning you are not charged on an hourly basis); however, bankruptcy attorney…
Paying your bankruptcy attorney can be a difficult and frustrating process. Many, if not most, bankruptcy attorneys require that their attorney fees be paid in full prior to filing your bankruptcy case. The reason for this is that the bankruptcy attorney’s fees are discharged once the bankruptcy is filed, just like your other debts. Most…
If you have a potential personal injury claim and are considering bankruptcy (or have already filed bankruptcy), it is very important to list your personal injury claim as a potential asset in your bankruptcy schedules. A failure to schedule your personal injury claim as an asset in your bankruptcy could prevent you from pursuing the…
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…