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July 2012 Archives

Colorado residents, wondering if you should file for bankruptcy?

A certified county-court mediator in another state reported on his experiences with defendants in court cases. Because lawsuits are on the rise and more and more consumers are being sued because of past due debts he is often asked by defendants if filing for personal bankruptcy is an option in their case. It's a valid question and really one only an experienced bankruptcy attorney should answer, he said. A Colorado bankruptcy attorney can fully inform you of your rights, eligibility requirements and the process involved so you can make an informed decision about dealing with your debt.

Student loans and the hardship factor in personal bankruptcy

In today's tough economic times more and more people are struggling to pay their student loans and don't know where to turn for help. Although it can be difficult to discharge student loans in a personal bankruptcy it is not altogether impossible. Prior to late 1998, federal bankruptcy law allowed for the discharge of student loans in a Chapter 7 bankruptcy however, the loans had to have been in a pay status for seven years before eligibility was even considered. Now an undue hardship must be demonstrated for student loans to qualify for a bankruptcy discharge.

Colorado mortgage debt and bankruptcy, do you know your options?

Are you a homeowner considering bankruptcy and wondering whether or not you should include your mortgage debt in your bankruptcy? The answer depends on a number of factors, including whether not you want to stay in your home and if you have any equity in your current mortgage. Filing for bankruptcy is still a viable option for dealing with your debt and can be ideal in certain situations.

U.S. Bankruptcy Court trustee has a few words of advice

A U.S. Bankruptcy Court trustee in a different state was interviewed for an article that we thought Lakewood, Colorado, homeowners struggling with their finances might find rather interesting. Like many Americans, too many Coloradoans are upside down in their mortgage. That means they owe more on their home than it is currently worth, and in some cases way more than it is worth.