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Colorado Bankruptcy Laws

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The two main ways to file your bankruptcy under the Colorado bankruptcy laws code are chapter 7 and 13 bankruptcy.

Situations under which the chapters are issued

  • Chapter 7 is filled when an individual has very little property
  • If you have no extra money left after the expenses each month, then you can file Chapter 7
  • Chapter 13 is filed when you have essential equity and property at home
  • You have standard income and are not willing to keep up the payments listed on your overdue amount

Individuals who qualify for the means test and completed a necessary profiling session can file under chapter 7.

A debtor whose insecure sums are less than $360,475 can choose to file under chapter 13.

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