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15 Oct 2013
We've all heard the horror stories from friends, coworkers or family members who have gone through a nasty divorce. Few "life events" compare to divorce when it comes to financial security, not to mention the emotional toll it can take on a family and their quality of life. When Bankruptcy Meets Divorce Money is the number one stressor in many relationships, so it makes sense to think that couples with money problems would seek a solution through divorce. However in most cases, the divorce does nothing but make their money issues more troubling because now they are trying to run…
4116 times
24 Sep 2013
We've all heard the statistics about job loss and credit card spending, and many believe these are the main roads to bankruptcy. During the recession, many families faced extended unemployment, which led to foreclosure and enormous debt loads. Perhaps this explains why unemployment is often touted as an obvious bankruptcy culprit. Many people are surprised to learn that the most common cause of bankruptcy in America is not unemployment or credit card spending; it is medical debt. When an unexpected emergency comes up and a family is uninsured, medical debt is enough to wipe out their assets immediately. A recent…
3572 times
29 Aug 2013
As a Colorado bankruptcy attorney, I am often asked if bankruptcy rates are going up or down, and if the demographic makeup of bankruptcy filers has changed. Over the past few years, as the U.S. has gradually emerged from the recession, the number of people filing for bankruptcy has decreased, but there are a few trends that have little to do with the economy. Many people who file for bankruptcy are lower-income individuals who simply cannot afford to pay for unexpected major expenses. A job loss or a major illness might be just enough to push them into financial ruin.…
4304 times
31 Jul 2013
If you've watched any late night television lately, chances are you've seen former U.S. Presidential candidate Fred Thompson out there pitching reverse mortgages. Many seniors are enticed by these very noteworthy spokespeople as they explain the process of cashing out their home equity. While it's not necessarily a bad decision to do this, it is important to be aware of fraudulent companies looking to capitalize on cash-poor retirees. On the FTC's web site, a variety of consumer data is available for the individual who wants to learn more about unusual consumer credit offers. The site explains that if you are…
3989 times
03 Apr 2013
If you plan to file for bankruptcy in Colorado Springs you will no doubt meet with an attorney who will walk you through all your options, but most people want a little preview before they visit a law office. Unless you've been through the bankruptcy process before it's likely you have a long list of questions, such as "will I go to court?" or "will I be able to keep my house?" In an attempt to prepare for the inevitable it is better to seek the advice of an experienced bankruptcy lawyer and avoid the temptation to just "Google it."…
3643 times
03 Mar 2013
As a Colorado bankruptcy attorney, one of the most common questions I’m asked is, “How much control will creditors have over my personal possessions?” It is rarely a surprise when creditors seize automobiles, boats or other expensive luxury items, but do they really want your clothes and furniture too? Good news: unless you happen to have a collection of valuable jewelry or brand new designer clothing, those items are usually exempt from seizure and liquidation. Every state has different laws governing bankruptcy so it is always better to ask your attorney, but there are a few major things to know…
3769 times
11 Feb 2013
Let's face it; no one envisions a future that includes a bankruptcy filing. But that shouldn't dissuade you from considering it when it is necessary. As a Colorado bankruptcy lawyer, there is one question I hear almost every day, "Is there any way I can avoid filing for bankruptcy?" And while this question is answered on a case-by-case basis, there are some ways to look at it objectively. How complicated is it to file for bankruptcy in Colorado? Generally, individual filings are rarely challenged by creditors and they won't require a lot of time in a courtroom. In fact, once…
3044 times

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