Chapter 7 and Chapter 13 Bankruptcy

Filing for Chapter 7 bankruptcy in Colorado can provide a fresh start by liquidating your debts. However, there are specific qualifications you must meet to be eligible. Income requirements To qualify for Chapter 7 bankruptcy, your income must be below the median...

The District of Colorado Bankruptcy Court reported 8,512 Chapter 7 and 2,463 Chapter 13 filings in 2022. Bankruptcy can be a blessing when you find yourself in a precarious financial situation. After the discharge of your case, rebuilding credit is an important step...

For many individuals dealing with debt beyond their means, bankruptcy can be a path to relief and a fresh start. While there is no shame in filing for bankruptcy when doing so becomes necessary, it remains the case that the fees associated with bankruptcy can be a...

Filing a Chapter 13 bankruptcy is a common option for debt relief, and part of the process includes completing a means test. The means test calculates your annual, monthly and disposable income to help better evaluate your eligibility. Average monthly income Your AMI...

Filing for bankruptcy is an option for individuals who have no other recourse for relief from their debts. When your bankruptcy period is over, however, you might once again find yourself in a situation where you need to take out a personal loan. Under Chapter 7...

Financial stress can devastate you, especially if you're considering bankruptcy. For example, the National Library of Medicine detailed how economic difficulties correlate to increased depression and anxiety. Instead of managing a bankruptcy on your own and...

Although bankruptcy may seem like a shameful and humiliating process to go through, it means you get to start over. You have a clean slate to work with. Depending on the type of bankruptcy, you may have seven to 10 years before it leaves your credit. In the meantime,...

If you have thought about filing for bankruptcy, you are not alone. Many people throughout the U.S. take advantage of this legal process every year and use it to achieve a fresh financial start. According to the U.S. Courts, 544,463 bankruptcy filings occurred in 2020...

You might assume that Chapter 7 bankruptcy is better than Chapter 13 because it allows you to eliminate debt without having to pay anything back directly. You have debts completely discharged and may only have to give up a few assets. Chapter 13 can be better than...