Am I Eligible for Bankruptcy Relief?
At the law office of Theron D. Morrison, we make the process of bankruptcy simple. We work closely with clients every step of the way. We offer a free and informative consultation to discuss whether bankruptcy is right for you and, if so, what form of bankruptcy you should choose.
There are two primary types of bankruptcy that individuals choose: Chapter 7 bankruptcy and Chapter 13 bankruptcy. We discuss some of the eligibility requirements for Chapter 7 and Chapter 13 bankruptcy below. To learn more, contact a bankruptcy attorney at one of our convenient office locations in Ogden, Sandy or Logan, Utah.
Eligibility for Chapter 7 Bankruptcy
People typically choose Chapter 7 bankruptcy because they currently have a low income and do not have a large amount of assets they need to protect. There are two primary requirements for eligibility that everyone should know.
First, if you have already filed for Chapter 7 bankruptcy, you must wait eight years from the date of filing to file for another Chapter 7 bankruptcy. However, you can file a Chapter 13 bankruptcy just four years from the date of a previous Chapter 7 filing.
Second, you must meet an economic means test to be eligible for Chapter 7 bankruptcy. When you file for Chapter 7, the bankruptcy court will look at your income over the past six months. Your eligibility for Chapter 7 relief will be determined by your income and family size.
Most of the people who contact our law office are pleasantly surprised to find that they are eligible for Chapter 7 relief. Where a Chapter 7 bankruptcy is not a possibility, we can often help people by filing for Chapter 13 bankruptcy.
Eligibility for Chapter 13 Bankruptcy
As stated above, you must wait four years from the point of a previous Chapter 7 bankruptcy to file for a subsequent Chapter 13 bankruptcy. There is no income requirement or economic means test for Chapter 13 eligibility. Most people who are not eligible for Chapter 7 are eligible for Chapter 13 bankruptcy.
Contact Us
To contact a bankruptcy lawyer at our firm, call 801-528-4883 or contact us by e-mail.
