Best Bankruptcy Lawyers Greeley, CO

Greeley, CO Bankruptcy FAQs

• Where do I file for bankruptcy in Greeley, Colorado?

  You can file for bankruptcy in Greeley at the United States Bankruptcy Court for the District of Colorado. The District Court serves several counties, including Weld, which covers the city of Greeley.

• Where can I get bankruptcy forms in Greeley, Colorado?

  You can access bankruptcy forms in Greeley online through the official website of the United States Courts at https://www.uscourts.gov/forms/bankruptcy-forms. The website provides a range of bankruptcy forms that you can download and print.

• What is the typical duration of a bankruptcy process in Greeley and the state of Colorado?

  Chapter 7 bankruptcy in Greeley and the state of Colorado generally follows a timeline of approximately 90 to 120 days, encompassing the period from filing to the point of debt discharge. On the other hand, chapter 13 bankruptcy is typically more protracted, spanning anywhere from three to five years. It is also contingent upon factors such as the debtor's income and the monthly payment amounts designated for creditor repayment.

• What types of debt can and cannot be discharged under chapter 13 bankruptcy in Greeley and the state of Colorado?

  Under Chapter 13 bankruptcy, certain debts can be eliminated, including personal loans, medical bills, credit card debt, property partition orders, and business debts. However, specific types of debts cannot be discharged through this bankruptcy option. Examples of non-dischargeable debts under chapter 13 include child or spousal support obligations, debts resulting from fraud or false pretenses, and income tax debt incurred due to tax evasion.

• Do Greeley debtors risk losing all their assets when filing for bankruptcy?

  No. In chapter 7 bankruptcy, the majority of assets owned by Greeley debtors are typically protected and exempt from bankruptcy proceedings. This implies that they are likely to retain ownership of their primary residence, vehicles, and personal belongings. However, certain assets fall into the non-exempt category, which may include secondary properties, additional vehicles, and liquid assets like cash or stocks.

• What are the advantages of hiring an experienced bankruptcy lawyer in Greeley?

  Securing the assistance of a competent bankruptcy lawyer in Greeley can lead debtors to a beneficial outcome due to their comprehensive comprehension of assets and debts. Seasoned bankruptcy attorneys possess enhanced legal expertise, skills, and meticulousness in conducting legal research. This paves the way for debtors to have a future free from financial concerns as a result of making sound decisions in the present.

• How do debtors in Greeley and the state of Colorado know if they qualify for chapter 7 bankruptcy?

  The Means Test, as defined in Section 707 of the Bankruptcy Code, determines whether a Greeley or Colorado resident qualifies for chapter 7 bankruptcy. It consists of three tests. These include the Over/Under test, which compares combined household income to the state's annual median income. Another test involves multiplying the monthly disposable income by 60. A result that is less than $6,575 falls under chapter 7 bankruptcy.