Consumer Debtor in Aurora, Littleton and Centennial Bankruptcy: What is a Consumer Debtor?
When a debtor has consumer debts in Aurora, Littleton, and Centennial, Colorado, they are considered consumer debtors. Consumer debts are different than debts incurred for business needs (business debts). It can often be confusing to differentiate between business debts and consumer debts in Aurora, Arvada, Lone Tree and across Colorado. Generally, it is best to look at what money was used for to determine whether it is a consumer debt or business debt. For example, money used for pay for personal items, such as a personal computer or tablet, it is likely a consumer debt.
Car Loans, Mortgages, Personal Items in Aurora, Centennial and Littleton, Colorado: Types of Consumer Debts
Consumer debt in Aurora, Littleton and Centennial, Colorado includes car loans, mortgages, and amounts applied to credit cards for purchases of groceries, clothes, or other personal items. The person applying for Chapter 7 or Chapter 13 bankruptcy in Centennial and Littleton, is referred to as the consumer debtor in all court proceedings and paperwork.