What is Bankruptcy in Colorado?
You have a question: “What is bankruptcy?” We want to inform you about your finances, so we’ll start with bankruptcy.
Bankruptcy: People or businesses struggling with financial burdens in Denver, Littleton, or Aurora may want to consider bankruptcy. Bankruptcy gives them a new start on their finances because debts are canceled or restructured into a feasible payment plan.
What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
To answer the question: “What is bankruptcy?” we must also understand that bankruptcy is divided into different “chapters.” Depending on your situation, you may need to file a “liquidation” bankruptcy, called Chapter 7, or a “reorganization” bankruptcy, known as Chapter 13 in Centennial, Broomfield, or Englewood.