When a debtor is contemplating bankruptcy, they will either file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. In a Chapter 7 bankruptcy, with some exceptions, the debtor's assets are liquidated, and the proceeds are used to pay of their debts. The process usually can be finished within a matter of months. In a Chapter 13 bankruptcy, the debtor may retain more assets, but will have to follow a court-ordered repayment plan that could last three to five years.
Colorado parenting in the summer, post-divorce
Summer is here and for children in Colorado whose parents have divorced, summer may mean that a child custody and parental visitation schedule will be followed that is different from the one followed in the school year. For example, during the school year, one parent may have custody of the child on weekdays, and the other parent may have visitation every-other weekend. However, oftentimes in the summer the noncustodial parent will have an extended period of visitation with the child, such as one month. In addition, both parents may want to take the child on a vacation that differs from their normal custody and visitation periods. It is important, then, to ensure any changes to a custody and visitation plan are lawful, in order to avoid unwanted surprises and conflicts.
What's the best approach to devising a parenting plan?
As you and your spouse plan your divorce, your central questions center around the kids. You figure that things like asset division should go relatively smoothly, and you care less about money than you do about the children.
How is spousal maintenance determined in Colorado?
The dynamics between a husband and wife are different in every marriage, particularly when it comes to work. Sometimes, both spouses work outside the home and earn roughly the same amount of money. Both spouses work outside the home, but one spouse earns significantly more than the other.
Homeowners may have options to stop home foreclosure
Hard financial times can fall upon just about any Coloradan. Hard times are not necessarily a person's fault, but that does not make them any easier to deal with. People often have to make tough decisions. Do they pay the electric bill or pay for their prescriptions? Will they have enough gas in the car and food on their table to last until the next payday? Sometimes, people find that they are totally unable to pay their mortgage, and they may fear losing their home. They may wonder if there are ways to stop home foreclosure.
How will courts in Colorado make property division decisions?
Usually, the longer a couple is married, the more assets they will acquire. Some of these assets, such as the family home and retirement accounts, can be quite valuable. However, even less costly items can still hold a great deal of sentimental value. Therefore, when a couple in Colorado decides to divorce, they will have to determine how to divide their assets.
How can the family home be handled through property division?
The family home is where memories are made that will last a lifetime. From carrying the bride over the threshold, to birthday and holiday celebrations and more, people in Colorado can become very attached to the family home. That may be why it is such a hotly sought-after asset should a couple divorce. However, it is important to understand what keeping the family home after a divorce entails.
How do you devise parenting plans?
You and your former spouse may have recently divorced and you share children. So now, you must consider co-parenting options that will work successfully for you, your former spouse and especially your children.
