Who Can File Chapter 7 and Chapter 13 Bankruptcy
Misinformation: Most people can't file bankruptcy under the new laws.
The truth: Anyone can file bankruptcy. If you pay taxes, you can file bankruptcy. The question is whether it is the right choice for you?
Creditors — and collection agencies in particular — are responsible for a great deal of misinformation about bankruptcy. While bankruptcy laws did change a few years ago, bankruptcy is still an option.
Two forms of bankruptcy protection are available for consumers: Chapter 7 bankruptcy and Chapter 13 bankruptcy. The right option for you will depend on a number of factors:
- Your income and assets
- Your type and amount of debt
- What you have done in the past two years (such as gifts and asset transfers)
- Whether you have filed Chapter 7 bankruptcy in the past eight years
At The Day Law Office in Spring Hill, Florida, our lawyers offer a free initial consultation to discuss your financial situation and determine which form of bankruptcy protection can solve your debt problems — and whether it is worthwhile for you to file bankruptcy.
We feel that, unless you have at least $10,000 in debt, it's not worth filing bankruptcy unless you need to stop a home foreclosure, stop a garnishment or lawsuit, or stop repossession of an asset you want to keep. If you don't need to file bankruptcy, our lawyers can advise you about bankruptcy alternatives such as debt negotiation.
Bankruptcy means test: To file Chapter 7 bankruptcy, you must qualify under a means test. If your earnings are too high to file Chapter 7 bankruptcy, you can still file Chapter 13 bankruptcy. The means test varies from state to state and is updated every few months.
Free Attorney Consultation
To schedule a free initial consultation about filing bankruptcy, call us toll free at 888-326-9553 or fill out the contact form on this web site. Our law office is located in Spring Hill, Florida, in the center of Hernando County.
"We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code."
