Colorado Bankruptcy

Bankruptcy is a legal process governed by federal law that allows a person or business that cannot pay its debts to seek relief. There are certain Colorado-specific exemptions and procedures that apply to bankruptcy. Debtors may only claim the state’s exemption statutes.

How to File Bankruptcy in Colorado

The process in Colorado follows federal steps but may include local fee schedules and rules. You must complete a court-approved credit-counseling course (within 180 days before filing). Proceed to gather required documentation such as recent tax returns, six months’ income records, asset/debt lists, bank statements, vehicle titles, and real-estate paperwork.

Pick the appropriate chapter type and apply Colorado’s exemption statute. File your bankruptcy petition and required schedules with the court. You must pay the filing fee or apply for installments or a waiver.

Soon after you file the case, you must attend the 341 meeting of creditors and bring proper ID and documentation. Proceed to complete the post-filing debtor-education course, respond to trustee or court notices, and await discharge or plan completion.

Colorado Bankruptcy Types: Chapter 7, Chapter 13 & Chapter 11

Here are the major chapters and how Colorado’s exemption framework may affect your case.

Chapter 7 (liquidation)

You may pick this chapter if you have limited assets and little income. It allows the sale of your non-exempt assets to repay creditors. Colorado provides a homestead exemption up to $250,000, rising to $350,000 for some older or disabled debtors.

Chapter 13 (repayment plan for individuals)

It allows an individual with a regular income to pay off their debts via a 3-5 year plan instead of liquidating. The plan’s payments and your ability to retain assets depend significantly on how much non-exempt equity you hold under Colorado’s exemptions.

Chapter 11 (business reorganization)

It is used by businesses (and some highly indebted individuals) seeking to restructure rather than liquidate. The state’s exemption rules still apply to a debtor’s personal property.

Step In Filing For Bankruptcy in Colorado

You can use this quick checklist to keep your filing process on track:

• Complete a credit-counseling course
• Gather your financial records, including income, taxes, bank statements, assets, and debts
• Choose the correct chapter and review the Colorado exemption statute
• File your petition and schedules with the court
• Pay the filing fee or request a waiver/installments
• Attend the 341 meeting of creditors
• Complete a debtor-education course after filing your case
• Respond to all trustees or court communications until discharge or plan confirmation

Colorado Bankruptcy Court & Access to Records

You may learn where to file your bankruptcy case in Colorado and how to access court documents.

Court Locations

The District of Colorado: The court oversees bankruptcy cases from its location in Denver. The court provides additional guidance for debtors (filing a case) without an attorney. You can contact the courthouse of the United States Bankruptcy Court for the District of Colorado at:

Record Access

Bankruptcy records in Colorado are available for viewing at the District of Colorado federal courthouse. You can access the records online through the Public Access to Court Electronic Records (PACER) system. This service attracts a $0.10 fee to search and view the court documents.

The court offers access to case details through the Voice Case Information System (VCIS) by calling (866) 222-8029 from any touch-tone phone. You may also request certified copies of bankruptcy records

If you visit the Bankruptcy Court, you may pay a copy fee of $0.10 per page when using the computer terminal in the court’s lobby. Other fees may apply, such as a $34.00 search fee if a clerk has to spend substantial time searching for the document. A copy fee of $0.50 per page applies if a clerk makes the copies for you. You may pay an additional $12.00 fee per document for certification.

You may also request your records by mail with a copy fee of $0.50 per page. You may also pay a search fee ($30 per search), or an $11 certification fee applies for each document that needs a certification. For records filed prior to January 17, 2000, you may review the archived records at the clerk’s office or contact the National Archives.