Let’s say you are lucky enough to qualify for Chapter 7 bankruptcy. You pass the means test (maybe because of the legal magic of a good bankruptcy lawyer), your debts are dischargeable, you’re ready to file bankruptcy and get free from a load of debt and stress. But you have a problem. You have non-exempt property. Property that doesn’t fit into one of the Colorado Bankruptcy Exemptions. What are your options? Continue reading What Happens To My Non-Exempt Property in Chapter 7 Bankruptcy?
Over the course of civilization, pearls of wisdom are developed which are so important and self-evident, they become part of the basic lessons passed down from generation to generation. Who knows when they came about in the evolutionary chain, but maxims such as ‘Never eat yellow snow’ are so well established that they seem to be part of our DNA. While it may be rare for anyone to join the short list of people who actually coin a phrase which becomes part of our fundamental decision making, I believe I may just be one of those people. For the recent financial crisis (and my work as a bankruptcy attorney) has given me clarity to see a basic truth which your mother never told you about – DON’T BANK WHERE YOU BORROW. Continue reading Here ye, here ye, let it be known from this point forward: DON’T BANK WHERE YOU BORROW!