Requirements for Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy is a legal process that allows individuals to discharge certain debts and get a fresh start. The process can be complex and time-consuming, so it's important to understand the requirements before you begin.

To qualify for Chapter 7 bankruptcy, you must first pass the "means test." This test compares your income to the median income in your state. If your income is below the median, you automatically qualify. If your income is above the median, you must prove that you don't have the means to repay your debt.

Once you've passed the means test, you'll need to complete mandatory credit counseling from an approved provider. Afterward, you'll file a petition with the bankruptcy court in your jurisdiction. You'll also need to provide financial documents, including tax returns, pay stubs, and bank statements.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

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