For most folks, credit improves after bankruptcy for a very practical reason—you no longer have debts and future creditors can consider your ability to repay (job security, stability of income, security, etc.), rather than worrying about whether you can pay the new debt because of past bills. Car loans and secured credit cards are fairly […]
Many single people who want to get married and have substantial debt are worried that their future spouse may be responsible for their debts. Also, people are nervous about getting married to someone with substantial debt for fear they may become liable for simply getting married. At Mile High Bankruptcy we get these questions all […]
According to The Denver Post, four in ten families in Colorado lack sufficient reserves to survive three months in a financial emergency. People are living so close to the edge that they are unable to meet basic expenses when hit with a job loss or medical problem that interrupts their income in any way. One […]
Foreclosures in Metro Denver were down 46% in 2013 according to The Denver Post. I feel this is because of rising house prices that allow a homeowner in trouble to sell their home easier than in the past, and that mortgage payments, while high, are often more reasonable than rent payments which continue to increase. […]
Three things have happened recently that are putting greater stress on Denver’s hardest struggling families. Chapter 7 Bankruptcy is even more important now to help these families eliminate debt and relieve some economic pressure. First, the IRS has delayed filing taxes to January 31—about two weeks later than in the past. The folks usually filing […]
Chapter 7 Bankruptcy is a straight forward procedure for eliminating past debts. It generally eliminates all debts except taxes, student loans, child support, and criminal fines and penalties, and is processed and completed relatively quickly. Chapter 13 Bankruptcy is a payment plan that lasts three to five years. Debts are repaid in whole or in […]
Yes, you can generally keep your house in Chapter 7 bankruptcy if you are current in your payments and have $60,000 or less in equity, or $90,000 or less of equity if you are disabled or over 60, but you must be able to keep current, or, if you are behind, get current before filing. […]
NO! NO! NO! Much fear surrounds chapter 7 bankruptcy. People facing bankruptcy have always been through hard economic times and hard times in their personal lives. They feel broken and defeated and fear the worst. Bankruptcy, and particularly Chapter 7 bankruptcy, should be seen as a practical tool for fixing your debt problems forever, and […]
Collection agencies and collection lawyers often increase their efforts to collect debts at year end. The pressure to deal with increased calls and threats AND the pressure to deal with the holidays can be very overwhelming and depressing. Why not give yourself a break if this is happening to you and contact Mile High Bankruptcy […]
As a Chapter 7 lawyer in Denver Colorado, I have received many calls from small business owners when they want to know: 1. Should I close my business if it is losing money? 2. Can the business creditors come after me? 3. Is the business worth saving? 4. How do I file a small business […]
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