Florence, CO Bankruptcy Law Firms & Lawyers

Usually an arbitration clause in a contract applies to that contract and survives termination of the contract. So, if you have a dispute with Contract A and the arbitration provision specifies it survives termination, then you'd have to handle the dispute under Contract A's arbitration provision. Since there is no arbitration provision in Contract B, any dispute in Contract B would be handled in court. However, given the cost of going to court, if there is no arbitration provision you realistically don't have any remedy except small claims court. Few attorneys are willing to take a case unless the expected damages are over $50,000 or you agree to pay their hourly rate and deposit a retainer of $10,000.

Generally, a significant amount of the funds in your bank account is exempt from garnishment - but you'd need to answer the summons you got. You need to determine what if any of the money in your bank account was exempt. You can get that back if you file within 90 days.

After filing bankruptcy, you can not do anything to affect its legal status. Upon filing bankruptcy ,the cash proceeds belong to the bankruptcy court to the extent you can not claim them as exempt .   If it was before , there are many things you could have done but there is no point dwelling on the past.   You have two options at this juncture. I have often used both when I have been successor counsel in these type of situations. The first is to amend your exemptions so that you can protect as much as you can. Second, you may be able to convert to Chapter 13 and pay the money over five years. I have found if you agree to turnover to the Chapter 7 trustee sufficient funds to cover his fees and expenses, the recognition that the Chapter 7 trustee is just doing  his job and is entitled to get paid, not withstanding your wish he did not his job so well,  is appreciated and it will increase the likelihood of them not objecting to conversion