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Am I Eligible to File Bankruptcy Under Chapter 7?

Due to 2005’s changes in bankruptcy law, not everybody is eligible to file for Chapter 7 bankruptcy. Watch this video to learn some of the eligibility requirements for this form of bankruptcy.

http://www.youtube.com/v/pgAX5DJAk3Q?hl=en&fs=1

To file for Chapter 7 bankruptcy, you must either have an income below the state median income threshold or pass a “means” test. You are also ineligible to file if you’ve received a prior discharge within the past eight years. Finally, you must also receive credit counseling before filing for bankruptcy.

To determine if you qualify for Chapter 7 bankruptcy, receive a consultation from Cutler & Associates, Ltd. Our team of bankruptcy lawyers is committed to providing Chicago residents with compassionate service and accurate information. To find an office near you, call (847) 849-1834 or contact us online.

 

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