Garcia & Gonzales, P.C.
Filing for Bankruptcy: FAQs (Pt. 1)
If you are overwhelmed by debt and are thinking about filing for Colorado bankruptcy, you may have some questions about what to expect from the process. To give you a better idea about what this debt relief option generally entails, as well as whether it’s right for you, in this three-part blog series, we will answer some frequently asked questions about filing for Colorado bankruptcy.
When you are ready for more personalized advice and experienced help getting out of debt, you can rely on the Denver bankruptcy attorneys at Garcia & Gonzales, P.C. We are skilled at helping people resolve their serious financial issues as efficiently and favorably as possible.
Important Info about Filing for Colorado Bankruptcy
Q – When is filing for Colorado bankruptcy a good idea?
A – Whether filing for Colorado bankruptcy is right for you will depend on your circumstances, such as the nature of your debt and whether you have any income. While one of our trusted Denver bankruptcy lawyers can advise you regarding whether bankruptcy is your best debt relief option, in general, filing for Colorado bankruptcy can be a good idea for you if you:
- Have received notices from creditors that they will be garnishing your wages
- Have received repossession and/or foreclosure notices
- Have missed one or more of your bill payments because you could not afford to pay them
- Have little to no income while your bills seem to keep increasing.
Q – Do I qualify Colorado bankruptcy?
A – To file for bankruptcy in Colorado, you must have lived in the state for at least 91 days. If you want to file for Chapter 7 bankruptcy in Colorado, then, in addition to this residency requirement, you will also have to meet the following eligibility requirements:
- You have to pass the “means test” – If you don’t pass the means test (because you earn too much money, for example), then filing for Chapter 13 bankruptcy may be your better option for getting out from under serious debt.
- You have to complete the credit counseling requirement before filing your bankruptcy petition.
To get more answers about filing for Colorado bankruptcy, look for the second and third installments of this blog series.
Denver Metro Area Bankruptcy Attorneys at Garcia & Gonzales, P.C.
Are you looking for real relief from serious debt? If so, you can turn to the experienced Denver bankruptcy attorneys at Garcia & Gonzales, P.C. to provide you with experienced help, honest answers and the highest quality legal services. With more than 50 years of combined legal experience, our trusted lawyers have the legal knowledge, skills and insight you can rely on to help you favorably resolve your debt issues and obtain a financial fresh start.
To learn more about your best debt relief options, as well as how we can help you, contact us today by calling or by emailing us using the drop-down contact form at the bottom of this page.
When you contact us, you will communicate directly with one of our attorneys, not a paralegal or legal assistant. We welcome Spanish-speaking individuals to contact us also – hablamos Español.