What bankruptcy can I file

cannot do and bankruptcy

What bankruptcy can I file?

In order to determine what bankruptcy can i file for or if you are eligible for bankruptcy, you must take the means test.  in 2005 Congress made major changes to the bankruptcy laws via changes to the U.S. Bankruptcy Code.  One of the new changes was something called the “Means Test”.  The means test will test your income and standard of living and will determine whether or not you qualify for a bankruptcy.  There are a number of intricate parts to the means test and using an experienced attorney to help you through the process is always in your best interest.

Another one of the requirements for what bankruptcy can I file is if you have ever filed a bankruptcy case in the past.  If you have filed for a bankruptcy recently or within a certain period of time (Usually eight years), then the court could dismiss your case making you unable to file for another bankruptcy until that period of time is over. If you have enough money to start paying off your debts you may have to switch to a Chapter 13 bankruptcy.  Multiple chapter 13 cases can be filed in a eight year period of time and you may wish to check with an attorney to determine if this may be possible based upon your situation.

If you don’t have enough money to pay off debts, you could be eligible to file for a Chapter 7 bankruptcy which will wipe out all of your debts.  Chapter 7 bankruptcy is the most common bankruptcy by far.  However just because its popular doesn’t mean its in your best interest.  Check out my website as to what Chapter 7 bankruptcy can do for you.  In summary, your income, your property, your circumstances and if you have filed for bankruptcy before will determine which bankruptcy you can file.

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