11/03/12, 1:01 pm
Hi there, Defaulted on a HELOC, here in CO. The property is worth > $300k, the loan was for a little more than $220k. Was kind of counting on the difference to cover outstanding bills, but the suicide failed. Would like to pay everyone off, but am contemplating bankruptcy. Are there any options? Thanks, sep
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United States   |   Colorado  |  Bankruptcy Law
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Christopher Kendrick Says:

Nov 04,2012 8:08 PM

You do have some options: two of which would be a short sale or a bankruptcy. There are some rules on property regarding bankruptcy that may be beneficial to you. You should get in contact with a qualified bankruptcy attorney to determine the best route to proceed as these issues are complicated and cannot be effectively answered on this board.

Nothing in this communication should be considered legal advice. Nor should this communication lead you to believe that an attorney-client relationship has been created. Only after thorough analysis of your case with you in my office can I provide effective legal advice on your specific issue.

Christopher Kendrick
Lubchenco, Kendrick, & Baldridge, LLP
2222 South Albion Street, Ste. 360,Denver, CO 80222

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