US Bankruptcy History The United States laws of bankruptcy history can be traced back to the 18th century. The first bankruptcy law, known as the Bankruptcy Act of 1800, was passed by Congress in 1800 and remained in effect until 1803. Bankruptcy history and this law was intended to provide a way for individuals and …
Student Loans, Is Bankruptcy An Option? Student loans are generally not dischargeable in bankruptcy, which means that individuals are still responsible for paying them even after filing. However, there are some exceptions in which loans can be discharged. In order to have these loans discharged, the individual must show that repayment of the loan would …
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The length of time it takes to repair a credit score after filing for bankruptcy can vary depending on several factors, including the type of bankruptcy filed and the individual’s credit history prior to filing. However, it typically takes a significant amount of time and effort to repair credit after bankruptcy. A Chapter 7 bankruptcy …
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Chapter 7 and Chapter 13 are two different types of bankruptcy that individuals can file for in the United States. The main differences between the two are: Eligibility: To be eligible for Chapter 7 bankruptcy, an individual must pass a means test, which compares their income to the median income of their state. If their …
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Filing For Bankruptcy Filing for bankruptcy is not an easy decision for anyone. That’s why it helps to have someone who’s been through it to walk you through the process. To assure (and reassure) you of the choices you are making to give yourself and in many cases, your family, a better future. Matthew McCune …
Current inflation impacting bankruptcy If you’ve been to a grocery store or had to fill up on gas in the past couple of months, you’ve felt the pain of inflation. In fact, we are making history. Over the past 12 months, the consumer price index (CPI), which measures costs across dozens of consumer items, increased …
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Understanding Bankruptcy Litigation What is litigation? Litigation is basically the term that the legal system uses for the process of settling disputes between parties. The dispute can involve the following: Debtors and Trustees Trustees and Creditors Debtors and Creditors While most consumer bankruptcy cases do not involve any actual litigation, there can be a lot …
Advantages and bankruptcy. Most people wouldn’t put these two words together on their own. However, upon closer inspection, those struggling with debt will find bankruptcy offers a refuge from one of life’s most stressful situations. Here are 5 reasons you’ll be glad you considered filing for bankruptcy. Discharge of debt will set you free The …
In simple terms, chapter 13 bankruptcy is a reorganization plan where the debtor makes payments into a plan for 3 to 5 years. One of the most appealing components of chapter 13 is having a “plan” that allows you to modify the rights of certain creditors and is why chapter 13 bankruptcy is adaptable. As …
A chapter 13 bankruptcy commences just like a chapter 7 bankruptcy — by filing forms with the appropriate bankruptcy court. The main form is a called voluntary petition but there are a LOT of other forms that need to be completed to ensure your case is properly filed. Where the debtor chooses to file a …
Now accepting clients from all locations in Colorado. All bankruptcy hearings are now remote and clients residing outside of Denver metro can hire legal counsel from Denver without the need to travel.