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Filing Bankruptcy in Colorado

Protecting Your Home and Car from Bankruptcy in Colorado

The property available to be protected or exempt when filing bankruptcy in Coloradobankruptcy exemptions chart can be seen below. Any property that fits into an exemption category is eligible, to the dollar. The exempt property remains in your possession after bankruptcy. Note, that there are specific debts which cannot be erased, even with bankruptcy.

Keeping Your Assets, Even After Bankruptcy

Equity is subject to an exemption limit. Equity is defined as the value remaining when the property value and the remaining balance on the property are calculated.

Any property secured by means of a loan, with current payments is available to have the equity covered by exemptions. If you decide to continue making payments, you may often keep the property through bankruptcy. Under the condition that all equity is not covered by the exemptions, the trustee may liquidate the asset contingent upon the equity NOT being covered by the exemptions. These assets can then be liquidated and distributed. Usually, you would be owed the value of the exemption as cash.

Get a Bankruptcy Lawyer Now, You’ll Be Glad You Used a Lawyer Later

All that being said, filing bankruptcy in Colorado is not an easy or completely simple decision to make. Consulting with an experienced bankruptcy lawyer would be wise in order to determine whether you’re best suited by bankruptcy or whether other options might present a better solution to your financial difficulties.

Often times a person is considering bankruptcy, but doesn’t get an attorney and instead tries to file alone. It is particularly dangerous to file bankruptcy without an attorney in Colorado due to the laws for filing bankruptcy in Colorado Court.

Fill out the Confidential Bankruptcy Form To the Right

In order to file bankruptcy in a smooth, efficient manner, you can fill out the form to the right in order to get a quote from a bankruptcy lawyer regarding your situation. You’ll have the opportunity to speak with a couple of different bankruptcy attorneys which is important to make sure that you can be at ease with your legal advice that you’ll receive from your attorney. An experienced bankruptcy attorney can guide you through the process and make it as painless as it absolutely can be.

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