I have had a number of free consultations lately where the person I am giving debt relief advice to says something along the lines of “I thought I could just file bankruptcy and wipe out my debts.” This comes after they learn that they are not an “easy” Chapter 7 bankruptcy, usually because their income is too high to qualify or they have some non-exempt property that complicates the issue. I am going to explain here what I explain to them: bankruptcy is not one-size-fits-all. Continue reading Bankruptcy Is Not One-Size-Fits-All
Bankruptcy exemptions are the means by which people who file bankruptcy keep their belongings. Each state has their own set of exemptions (and there are even Federal exemptions that can be used in some circumstances) for bankruptcy filers to use. Colorado’s exemptions are used by any resident of Colorado who files for consumer bankruptcy (Chapters 7 and 13). In Colorado, these exemptions are found in C.R.S. § 13-54-101 and C.R.S. § 13-54-102. Continue reading Good News: Colorado Has New Bankruptcy Exemptions
If you have been sued to collect on a debt, you are at risk of a wage garnishment. If you have unpaid bills headed for collections–for medical debt, credit cards, broken lease, auto loan deficiency, personal loans, mortgage deficiency and even unpaid student loan debt—a wage garnishment may be coming your way. Continue reading Garnishment and Bankruptcy
Wink & Wink Bankruptcy Law Firm helps people understand all of the their options for getting out of debt. No matter what kind of debt you have, medical bills, credit cards, or mortgage, the husband and wife team at Wink & Wink can help. Call for a free consultation at 888.NOW.WINK.
In my time as a consumer bankruptcy attorney in Colorado, I have heard many stories of bad creditor behavior: threats, lies and bad attitudes. But nothing compares to the stories I hear about pay day loan lenders. In my experience, they are the most unsavory, untrustworthy, terrible people to owe money to and the lies they tell always include the threat of criminal prosecution. So, what is the truth? Can they throw you in jail? Well, here is what you need to know if you have pay day loans. Continue reading The Truth About Pay Day Loans
When exploring debt relief options, the biggest mistake many people make is not looking at all options. In order to avoid this mistake, I suggest you set aside any preconceived notions and seek objective advice from a debt relief professional who is understands all forms of debt relief, from bankruptcy to debt settlement and everything in between. Continue reading What You Need to Know About Debt Relief Options: Consolidation, Settlement and Bankruptcy
The means test is one of the more complicated aspects of consumer bankruptcy. For people who have to take this test, “passing” is a matter of understanding each line item individually. This is lawyer work for sure, as different line items are interpreted differently by each State’s trustees and judges. This blog series is an exploration of those line items and the issues that arise around each one. Continue reading The Long-Form Means Test: Household Size
Every so often, life can throw you a curve ball. In recent years the economy has thrown a huge curve ball in the lives of many Americans. It is becoming more frequent for people to live paycheck to paycheck; making it increasingly difficult to make ends meet. As such many American families are finding themselves drowning in debt. For many, bankruptcy is the only answer to their financial problems. However, filing for bankruptcy can be time consuming and a bit confusing for the average person. Below is a list of the most common misconceptions about Colorado bankruptcy. Continue reading Common Misconceptions About Bankruptcy
If you are researching consumer bankruptcy you have heard the terms Chapter 7 and Chapter 13. These are the two most commonly used chapters of bankruptcy used by single filers, married couples and small business owners who are struggling with debt. If you are trying to figure out if bankruptcy is the right choice for you, your family and your business, you want to first have a basic understanding of the differences between Chapter & and Chapter 13. Continue reading What Is The Difference Between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy?
If you are researching consumer bankruptcy you have no doubt heard the terms “means test” and “long-form means test”. The means testing involved in Chapter 7 and Chapter 13 bankruptcy can be complicated and there are also jurisdictional differences that create nuances only fully understood by a bankruptcy attorney that practices in the state in which you plan to file bankruptcy. Continue reading The Long-Form Means Test: A Series