Bankruptcy Qualification?
Date: Tue, 09/17/2013 - 19:29
You would need to pass the
You would need to pass the means test for your state. You might be treated as a family unit...make an appointment with a local attorney for a free consultation.
Your eligibility for filing
Your eligibility for filing Bankruptcy depends on the type of case you file. You need to pass the "Means Test" to file under Chapter 7 Bankruptcy. If your current income is less than the median income of a family in your state, then you can file under Chapter. In case you don't, you can file under Chapter 13, where you pay off a part of your debt over time with your disposable income. Well, two important things are included as a part of your qualification criteria- mandatory credit counseling and budget analysis.