You have probably known for a while.

In most cases, no. Colorado protects a substantial amount of home equity, and if you are current on the mortgage and your equity fits within that protection, a Chapter 7 does not put your home at risk. If you are behind and want to catch up, Chapter 13 is designed for exactly that. More on Chapter 13

Yes, on a showing of undue hardship. Student loans have always been dischargeable that way. What was true is that courts applied the standard so strictly, and the process was so expensive, that almost no one tried. In November 2022 the Department of Justice issued guidance that gives borrowers a clearer path. More on student loan discharge

No. Qualified retirement accounts are protected, and in twenty-five years, I have not had a client lose one in a Chapter 7. I say this firmly because I have seen people drain their retirement savings to pay debts that bankruptcy would have discharged, and it breaks my heart every time.

Usually not. There is an exemption for vehicle equity, and most financed vehicles have little enough equity that it never becomes an issue. If you want to keep the car and keep paying the loan, you generally keep the car.

A Chapter 7 appears on your credit report for ten years from the filing date, and a Chapter 13 typically comes off at seven. Those numbers sound worse than the reality. Most of my clients see their scores begin to recover within a year of discharge, because the accounts that were pulling them down are resolved. If your credit is already damaged by missed payments and collections, filing often improves things faster than continuing to struggle.

Yes, and sometimes it is the better choice. Your spouse's income still counts in the means test, but your spouse's separate debts and credit are not automatically part of your case. The right approach depends largely on whose name the debt is in, and we will work through it together.

It is the meeting of creditors, named after the section of the Bankruptcy Code that requires it. It is not a court hearing, and there is no judge. A trustee asks you a short set of questions under oath, usually for just a few minutes, and I am with you the whole time. Creditors are allowed to attend but almost never do. Most people tell me afterward that it was much easier than they feared. The whole process, step by step

Yes. Waiting periods depend on the loan program and typically range from two to four years after discharge, with government backed programs generally shorter than conventional ones. I have had clients buy homes three years after discharge, with better rates than they could have gotten while carrying the debt. Those are some of my favorite emails to receive.

A Chapter 7 takes roughly four to six months from filing to discharge. A Chapter 13 lasts three to five years, because the plan is the case. The part people do not expect is the time before filing, which depends on how quickly the documents come together. We will go at a pace that works for you.

No one notifies your employer. Bankruptcy filings are public records, so a case is not secret in the strictest sense, but no notice is sent and there is usually no reason for it to come up. The exception is an active wage garnishment, where your employer already knows something is happening and will be told it has stopped.