Real People Qualify for Littleton Chapter 13 Bankruptcy
Only real people qualify for Chapter 13 bankruptcy in Littleton, Parker and across Colorado. Corporations, LLCs and partnerships are not eligible even if they are owned by only one person. If, however, a person who owns a business files for Chapter 13 bankruptcy, they may include the debts from their business that they are responsible for.
Chapter 13 Qualifiers in Aurora, Colorado
To qualify for Chapter 13 in Aurora, Centennial or Lone Tree, Colorado, you must have a stable income so that you can make payments on a plan of reorganization. Chapter 13 bankruptcy is not an option if you owe more than $1,081,400 in secured debts, like mortgages or car loan repayments. For unsecured debt, you have a $360,475 limit. Unsecured debt is debt in which you have not posted collateral. This is the most common type of debt consumer debtors incur. (Be aware that these numbers change every three according to inflation, with the next change coming in 2016.)
It is important to have a loyal ally on your side as you decide the best way to resolve your financial issues and get a new start. Barry Arrington has proven many times that he can successfully overcome the difficulties of filing a Chapter 13 Bankruptcy. Contact an experienced bankruptcy lawyer at 303-205-7870 for answers to more specific questions.