Berthoud, CO Bankruptcy Law

Colorado Counties

Filing Bankruptcy In Berthoud, CO

LegalConsumer.com's "Bankruptcy By Zip Code" website has provided free, local bankruptcy information to more than 10 million consumers since 2006!

How to File

Means Test

Free Means Test Calculator: Are you eligible for Chapter 7? This calculator will help you find out. Online since 2006. Updated with May 2023 income & expense standards.
Local Standards: Colorado and Larimer County: Every state and county is different.
- Colorado Median Income: Each state has its own Median Income standard.
- Expense Standards For Larimer County: Each county has its own standards for housing expenses.
Line by Line Help: Just the bits you need, when you need them.

Bankruptcy Court

Which court do I use? Bankruptcy is a federal law, so you use Federal Court?
Where do I file for bankruptcy?
Can I file Electronically? A few courts are now allowing debtors to file electronically. Also services like Upsolve.org can help.
Court Info For Non-Attorneys: Every court offers guidance for debtors who don't have an attorney. Some courts more than others.
Who is the Trustee? Learn about the court person you'll deal with if you file. It won't be the judge.
Forms & Instructions
- Downloads: Where can I download free bankruptcy forms for my court?
- Which Forms? You don't need them all. We'll tell you which ones you need.

Exemptions

Schedule C: The form where you claim property as exempt.
Federal Bankruptcy (§522) Exemptions: Some states allow you to use the Federal Bankruptcy Exemptions listed in 11 USC § 522. The remaining states have "opted out" and only allow you to use the state law exemptions.
Colorado Exemptions
- Federal Non-Bankruptcy Exemptions:
Real Estate
- Your Home (Homestead Exemption): Almost very state (48) has a homestead exemption.
Personal Property:
- Car/Truck/Van: Most states have an explicit exemption for motor vehicles. In some states it's quite generous.
- Tools of Your Trade: From delivery vans to shop tools, most states allow you to exempt tools you use for your work, up to a certain amount.
- Other
Financial Accounts & Cash
- Retirement Accounts & Pensions: You can protect over $1M in retirement accounts if you file for bankruptcy.
- Public Benefits: States differ as to what benefits you can
- Bank Accounts:

Types of Debt

Secured Debts: Bankruptcy doesn't get rid of secured debts. You'll be asked what you plan to do about your secured debts when you file. Your options are: -
- Surrender: Give back the property, and wipe out any remaining deficiency balance in bankruptcy.
- Redeem: - Come up with the cash the buy the property outright, at its current value..
- Reaffirm: - Keep the arrangement you have, and leave this debt unaffected by your bankruptcy.
- Common Types Secured Debts:
  - Mortgages
  - Car Loans
  - Judgement Liens:
    - How to "void" them on exempt property.
Unsecured Debts: Most unsecured debts, like credit cards and medical debts can be discharged in bankruptcy.
- Credit Card Debt
- Medical Debt
- Personal Loans
- Payday loans
Unsecured Debts that require extra steps:
- Student Loans: Extra steps required to get rid of it
  - Undue Hardship: What you have to prove to get a discharge.
  - Adversary Proceeding: Like a mini-trial within your bankruptcy case.

DIY Solutions

UpSolve: Upsolve is a new way to file for bankruptcy that is well-suited to debtors who have little or no property.
SoloSuit: If you've been sued for a debt, SoloSuit can help you stave off a wage garnishment.

Note: This website is updated as time permits. It is up to you to contact your local court and confirm and update any information you need. Information is not advice. See a bankruptcy lawyer for advice about how the law relates to your situation.

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Means Test Calculator for Larimer County, For Cases Filed on or after May 15, 2023

The free bankruptcy means test calculator is a free, automated version of the official Means Test Form you must file with the court.

This free automated version:

applies the state median income standards for Colorado, and
applies the standard allowed expense deductions for Larimer County
and does the means test form calculations, based on the information you put in...

...to help you determine whether you pass the "means test" for Chapter 7 bankruptcy.

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Colorado Bankruptcy Exemptions - All Categories

Colorado Exemptions Summary:

Homestead

Real property, mobile home, manufactured home, or house trailer you occupy to $250,000; $350,000 if owner, spouse, or dependent is disabled or age 60 or older; sale proceeds exempt 2 years after received (husband & wife may double)

Vehicle Exemption

Motor vehicles or bicycles used for work to $12,000; to $25,000 if used by a debtor or by a dependent who is disabled or age 60 or older

Personal Property

Clothing to $2,000
Food & fuel to $600
Health aids
Household goods to $6,000 per person
Jewelry & articles of adornment to $2,500
Family pictures & books to $2,000
Firearm/hunting equipment to $1,000
Bank Accounts to $2,500

Wild Card

None

more...

Bankruptcy Lawyers Serving Berthoud, CO

Chapter 7 & Chapter 13

Want help?

The Berthoud Bankruptcy Lawyers Page connects you with local credit counsellors, lawyers and other service providers who can help you if need want advice or help with the filing process.

How to use ChatGPT (and Other AI Tools) to Navigate the Bankruptcy Process in Colorado

If you've been reading at all, you know that the improvement in generative AI tools, like ChatGPT v.4, have made it possible now to get work done more quickly than ever, especially in knowledge fields like law.

This is great news for consumers because now they can use ChatGPT as a research assistant when exploring their debt relief options.

This article will show you how to effectively use AI tools, like ChatGPT, Google Bard, and Claude.ai, to help you through the bankruptcy process in your state and county.

Getting Started

To effectively use AI, you must understand it's an auto-complete machine. So, to get an answer you can use, crafting the question is very important. This is called prompt engineering. They teach courses in prompt engineering to young lawyers at big law firms.

In our tests here at LegalConsumer.com, we have discovered that GPT4 does best when answering questions like the ones that follow. Sometimes, it will say it can't give you information about legal matters. But, if you rephrase the question and ask what a lawyer would ask me in this situation, it is quite free and gives good information you can use as a foundation for further research. more...