Colorado Bankruptcy Guide and Forms Package for Chapters 7 or 13 - Colorado 2026

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  1. Click ‘Get Form’ to open the Colorado Bankruptcy Guide and Forms Package in our editor.
  2. Begin by reviewing the preliminary notes regarding filer types. Ensure you understand whether you are filing as an individual or a non-individual entity.
  3. Decide between Chapter 7 and Chapter 13 based on your financial situation. For Chapter 7, complete the Statement of Your Current Monthly Income (Official Form 122A-1) to determine eligibility.
  4. If filing under Chapter 7, fill out the Means Test Calculation (Official Form 122A-2) if your income exceeds the state median. This will help assess your ability to repay debts.
  5. For Chapter 13, draft a repayment plan detailing how you intend to pay off your debts over time. Make sure it aligns with court requirements.
  6. Review all completed forms for accuracy before submission. Utilize our platform’s features to save and edit as needed.

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If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and dont have the option of filing Chapter 7.
The biggest difference between Chapter 7 and Chapter 13 is that Chapter 7 focuses on discharging (getting rid of) unsecured debt such as credit cards, personal loans and medical bills while Chapter 13 allows you to catch up on secured debts like your home or your car while also discharging unsecured debt.
In a Chapter 7 bankruptcy you wipe out your debts and get a Fresh Start. Chapter 7 bankruptcy is a liquidation where the trustee collects all of your assets and sells any assets which are not exempt. (see Colorado Exemptions) The trustee sells the assets and pays you, the debtor, any amount exempted.
If youre filing Chapter 7 bankruptcy in Colorado, the court charges a $338 filing fee.
The district court or the bankruptcy court may waive the chapter 7 filing fee for an individual debtor who: (a) has income less than 150 percent of the income official poverty line applicable to a family of the size involved; and (b) is unable to pay that fee in installments.

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Common types of assets and nonexempt property a debtor could potentially lose in Chapter 7 bankruptcy include: Vacation properties. Investment accounts. Stocks and bonds. Rental properties. Luxury items. Valuable artwork. Jewelry. Antiques.

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