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Colorado residents with unmanageable financial situations might choose to file a Chapter 13 bankruptcy for one of two reasons: They earn too much to pass the Chapter 7 means test or they wish to protect their home or other assets. The Chapter 13 process involves...
Month: January 2021
Tips on co-parenting after a divorce
As any divorced parent knows, co-parenting can be a unique and difficult proposition. It often involves balancing many facets of your life, including the relationships between your ex-spouse, a new partner and, of course, your children. Each state, including Colorado,...
Tax debts in bankruptcy
Anyone who owes back income taxes in Lakewood, Colorado, knows the feeling of dread when they see the past due notice. It is a common myth that tax debt cannot be removed in bankruptcy, but it depends on the type of tax owed and bankruptcy. Tax debts in bankruptcy...
Modifying divorce decrees in Colorado
If you have gone through a divorce in Colorado, and your circumstances have changed, you may be able to modify aspects of your divorce decree. The courts understand that situations change over time, and they could grant a motion to modify child custody arrangements;...
What to do when you can’t afford a support payment
Typically, Colorado law requires you to provide monetary support to your children. However, there may come a time when you cannot afford to make child support payments as ordered. Fortunately, there are several different ways in which you may be able to avoid running...
Will you keep your car after filing for bankruptcy?
If you file for bankruptcy in Colorado, there is a chance that you will be able to retain ownership of your vehicle. This may be true regardless of the type of protection that you seek from creditors. However, if a creditor has a lien on your car, you must remain...
Vehicles under Chapter 7 bankruptcy
Bankruptcy in Colorado legally absolves the debtor of certain debts, giving them a fresh start. Most debtors file for Chapter 7 bankruptcy because it moves faster than other types. Chapter 7 liquidates non-exempt assets, such as second homes, second vehicles and...
The top 5 causes of divorce
Over the past year, divorces in Colorado and around the nation began to spike once again. Although much of that was attributed to the ongoing pandemic, experts state that it was only the breaking point and not the actual reason for couples deciding to dissolve their...
Can you keep your house if you file for bankruptcy?
If you're struggling to pay off your debts in Colorado, you might have thought about filing for bankruptcy. However, you might have hesitated after hearing stories about people being forced to sell their homes to pay off their debts. Will you lose your house if you...
The differences between bankruptcies in Colorado
You've tried everything, but you can't shake the mounds of debt that are dragging down your credit score. Creditors are calling and texting you, and you're having trouble applying for a mortgage or a car loan. It's starting to look like filing for bankruptcy is your...