Can I File Bankruptcy?
Prior to filing for bankruptcy, a person must be certain that they are able to use the bankruptcy protection laws. There are restrictions regarding the eligibility to file bankruptcy in the United States. A person must either live, maintain a residence, a business, or property in the U.S. Consulting an AttorneyTarget selected bankruptcy attorney can help individuals determine their eligibility for filing for bankruptcy protection under the Bankruptcy Code.
Once a person determines his/her eligibility to file, the next step is to establish under which chapter of the Code they are eligible to file. A top bankruptcy attorney will lead clients through the means test which will determine whether the client is eligible to file for Chapter 7 Bankruptcy or Chapter 13. The means test, which was made mandatory in 2005 by the Bankruptcy Abuse Prevention and Consumer Protection Act, ensures that individuals cannot exploit the protective nature of the Bankruptcy Code. It also ensures that persons able to make payments toward their debts continue to do so under Chapter 13 laws.
The requirements for filing under chapters7 and 13 are very different and come by learning about the means test.
Though it is possible to file for bankruptcy without legal counsel, it is highly recommended that persons contact an AttorneyTarget selected bankruptcy representative from their county. Top attorneys will ensure that all forms are filled out correctly and that their clients receive the protection which they are due.