Bankruptcy

/Bankruptcy

8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 2

2018-05-25T15:29:42+00:00

In Part 1 of this series on tips for fixing your credit rating after a bankruptcy, we talked about the first steps to take to get your financial affairs back in order. Building your credit back up, as we discussed, involved gathering your credit reports, disputing negative comments and errors on your credit reports, and using kindness to your advantage to try and get negative credit report remarks removed, and jumping back into using credit cards. If you’ve taken the initiative and you’ve done the first four steps, chances are your credit score has gone up. Now, let’s take a look [...]

8 Tips for Fixing Your Credit Rating Following Bankruptcy – Part 2 2018-05-25T15:29:42+00:00

7 Things You Should Know Before Filing for Bankruptcy

2018-03-08T20:40:26+00:00

Every one of us knows a company that we’ve liked or enjoyed the services of that have gone bankrupt. Here’s a quick historical list of the 10 biggest American companies that have filed for Chapter 11 bankruptcy in the last two decades: American Airlines in 2011 (reformed under new management) Chrysler in 2009 (restructured) MF Global in 2011 (DOA) Conseco in 2002 (restructured) Enron in 2001 (DOA) CIT Group in 2009 (re-emerged) General Motors in 2009 (government bailout saved GM) WorldCom in 2002 (regrouped as MCI, later sold to Verizon) Washington Mutual in 2008 (JP Morgan bought up the remnants) [...]

7 Things You Should Know Before Filing for Bankruptcy 2018-03-08T20:40:26+00:00

Will I Lose My Home If I File for Bankruptcy?

2018-02-15T17:04:50+00:00

Not necessarily, as whether or not you can retain your home through a Colorado bankruptcy case will depend on a number of factors. Some of these include: Whether you take advantage of the Colorado homestead exemption The value of your home/property. Clarifying this answer a bit more, the following presents some of the most important facts to know about the Colorado homestead exemption for Chapter 7 bankruptcy cases. Although the information below is helpful, please feel free to contact an experienced Denver bankruptcy attorney at Garcia & Gonzales, P.C. when you need more specific information and insight regarding your debt [...]

Will I Lose My Home If I File for Bankruptcy? 2018-02-15T17:04:50+00:00

Bankruptcy Planning 101: 6 Things to Do before Filing for Bankruptcy

2018-02-15T17:09:35+00:00

When bankruptcy is your best option for resolving major debt issues, what you do in the planning phase – before you file your bankruptcy petition – can be critical to how smoothly your future case proceeds. It could also impact how your case ends up being resolved and how much money and time you have to spend to reach that resolution. To help people understand how to position their future bankruptcy case for success, the following are some of the most important steps to take during the planning stage: Take the bankruptcy means test – The bankruptcy means test is [...]

Bankruptcy Planning 101: 6 Things to Do before Filing for Bankruptcy 2018-02-15T17:09:35+00:00

5 Options You Have When You Can’t Pay Your Bills

2018-02-15T17:10:59+00:00

Are you struggling to pay all of your monthly bills? Is your debt starting to snowball because you simply can’t keep up with your bill payments? If so, there may be various options for addressing the outstanding debt before it gets out of control – and before creditors start moving forward to garnish wages, repossess your assets and/or sue you. What You Can Do When You Can’t Pay Your Bills Cut back and try to free up some more funds – Take a close look at how you spend money on a monthly basis to see if there are any [...]

5 Options You Have When You Can’t Pay Your Bills 2018-02-15T17:10:59+00:00

6 Money Mistakes that Can Lead to Bankruptcy

2018-02-15T17:12:10+00:00

Serious debt issues can arise when finances are mismanaged. Although there can be a lot of factors that contribute to people’s financial decisions and possibly their debt, however, the following are some of the most common and costly money mistakes that can exacerbate any financial situation – and that may trigger: Rapidly snowballing debt The need to file for bankruptcy in the future in order to get a financial fresh start. Avoid Making these Money Mistakes Being misled by common spending traps – Spending traps refer to offers that may seem like “deals” but that actually incentivize you to spend [...]

6 Money Mistakes that Can Lead to Bankruptcy 2018-02-15T17:12:10+00:00

What Is the Means Test for Bankruptcy?

2018-02-15T17:13:59+00:00

When people struggling with debt decide to pursue bankruptcy in Colorado for a financial fresh start, one of the things they will need to do before they can officially file their petition with the court is to take the means test. The bankruptcy means test is essentially a complex calculation that determines whether prospective bankruptcy petitioners quality for Chapter 7 bankruptcy. Those who “pass” the means test can pursue Chapter 7 bankruptcy in Colorado while “failures” mean that petitioners will have to pursue some other type of bankruptcy case, such as a Chapter 13 case. To shed some more light [...]

What Is the Means Test for Bankruptcy? 2018-02-15T17:13:59+00:00

4 Essential Facts to Know for the FTC’s National Consumer Protection Week

2018-02-15T17:56:42+00:00

From March 6th through 12th, officials with the Federal Trade Commission (FTC) are sponsoring National Consumer Protection Week (NCPW), a period focused on encouraging “consumers nationwide to take full advantage of their consumer rights and make better-informed decisions.” Backed by dozens of local organizations across the U.S., NCPW is aimed at empowering consumers to protect their rights and their hard-earned money, providing them with the tools and information they may need to fight back against scams, identity theft and other illegal or abusive practices. To support this effort, below, we have pointed out some of the most important facts to [...]

4 Essential Facts to Know for the FTC’s National Consumer Protection Week 2018-02-15T17:56:42+00:00

Can I Get Rid of Student Loan Debt via Colorado Bankruptcy?

2018-02-15T17:57:52+00:00

No, bankruptcy will not eliminate student loan debt. However, you can get rid of a lot of other types of debt via Colorado bankruptcy, and that may free up funds to pay down or to pay off your student loans. Additionally, you may qualify for student loan forgiveness or other options, which could help you pull yourself out of debt and get the financial fresh start you need and deserve. We’ll explain this in more detail below… Debts that Are Dischargeable via Colorado Bankruptcy Although student loan debts are not dischargeable via Colorado bankruptcy cases, debts that can be eliminated [...]

Can I Get Rid of Student Loan Debt via Colorado Bankruptcy? 2018-02-15T17:57:52+00:00

Why You Shouldn’t Ignore Debt Problems

2018-02-15T18:00:14+00:00

Managing debt is a part of many people’s lives. When that debt gets out of control and starts to become unmanageable, it may be enticing to try to ignore the issue, blindly hoping it will go away or resolve itself. The fact is, however, that debt does not just disappear. And ignoring it or pretending it doesn’t exist can come back to haunt you in a big way. What Happens When Debts Are Ignored The reason that ignoring debt issues can be so problematic is that it can give creditors or debt collectors the opportunity to move forward with more [...]

Why You Shouldn’t Ignore Debt Problems 2018-02-15T18:00:14+00:00