Who may file chapter 7 bankruptcy?

Chapter 7 bankruptcy is one of the best solutions in case you have debt problems .During the procedures all your debts can be wipe out and you can get a fresh start. Because the government is trying to stop the abuses there are several strict rules. Not everybody can apply for this.

Who may file chapter 7 bankruptcy?

To qualify for chapter 7 as an individual you must meet these conditions:

1. At least 180 days before you didn’t have a bankruptcy petition dismissed because you failed to appear before the court or you voluntarily dismissed a previous case after creditors sought relief from the bankruptcy court

2. You have to get credit counseling from an approved credit counseling agency at least 180 days before filling for bankruptcy.

3. In case you already receive a discharge in the last six years for Chapter 13 bankruptcy or eight years for Chapter 7 you cannot apply again.

4. You didn’t have a bankruptcy case that was dismisses because you the bankruptcy court considered that your filling was fraudulent or an abuse (at least 180 days before).

5. You didn’t cheat or tried to cheat your creditors. If you try to hide assets from your creditor and you get caught you will not be allowed to fill for bankruptcy

6. You didn’t bought luxury items when is cleared that you cannot pay for those.

7. You didn’t lied about your income or debts on your credit applications

8 Very important: If your family income is lower than the median income than the state medium income per family (same family numbers).

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