Qualifying for Bankruptcy

/Qualifying for Bankruptcy

What Is the Means Test for Bankruptcy?

2018-02-15T17:13:59+00:00

When people struggling with debt decide to pursue bankruptcy in Colorado for a financial fresh start, one of the things they will need to do before they can officially file their petition with the court is to take the means test. The bankruptcy means test is essentially a complex calculation that determines whether prospective bankruptcy petitioners quality for Chapter 7 bankruptcy. Those who “pass” the means test can pursue Chapter 7 bankruptcy in Colorado while “failures” mean that petitioners will have to pursue some other type of bankruptcy case, such as a Chapter 13 case. To shed some more light [...]

What Is the Means Test for Bankruptcy?2018-02-15T17:13:59+00:00

5 Questions to Ask Yourself (& Answer) before Filing for Bankruptcy

2018-02-15T18:29:57+00:00

When you are ready to take action to resolve serious debt issues, filing for bankruptcy can be one of your better options for debt relief. Before you proceed with a bankruptcy case, however, answering the following questions can help you determine: What type of bankruptcy case may be best suited for you, based on your situation and needs Whether there are additional steps you may need to take before submitting the official bankruptcy petition with the court. Important Questions to Answers When Preparing for Bankruptcy How long ago was my prior bankruptcy case? – If you have filed for bankruptcy [...]

5 Questions to Ask Yourself (& Answer) before Filing for Bankruptcy2018-02-15T18:29:57+00:00

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 3)

2019-02-20T15:49:58+00:00

Additional Important Info about Credit Counseling for Colorado Bankruptcy Fact 6 – In rare cases, it can be possible to complete the credit counseling requirement after filing for bankruptcy. According to bankruptcy laws, the court will ONLY allow bankruptcy petitioners to complete the credit counseling requirement after filing for bankruptcy when all three of the following conditions apply: The petitioner tried to get credit counseling from an approved agency within at least 5 days of the date on which the bankruptcy petition was filed, but the agency could not provide this service to the petitioner; AND There is some type [...]

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 3)2019-02-20T15:49:58+00:00

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 2)

2019-02-20T15:26:14+00:00

Resuming The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 1), here, we’ll continue to reveal some important things you should know if you are considering filing for Colorado bankruptcy soon. Credit Counseling for Bankruptcy: More Important Info Fact 3 – The costs of credit counseling may vary according to your financial situation. The Office of the U.S. Trustee has mandated that credit counseling agencies keep their fees “reasonable,” which can mean that these fees are around $50. However, it is possible for these fees to be reduced or waived when people can’t afford them. In other words, [...]

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 2)2019-02-20T15:26:14+00:00

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 1)

2019-02-19T22:45:53+00:00

Filing for Colorado bankruptcy can be a powerful way to resolve serious debt problems, but not just anyone who files for bankruptcy can realize this benefit. In fact, there are certain eligibility requirements that must first be met, and one of these includes satisfying the credit counseling requirement. Taking a closer look at this aspect of bankruptcy cases, this three-part blog series will point out some important facts to know about the credit counseling requirement for bankruptcy. While the info presented herein can help clear up some of the questions people tend to have when they are considering pursuing a [...]

The Credit Counseling Requirement for Bankruptcy: 7 Facts to Know (Pt. 1)2019-02-19T22:45:53+00:00