How Do I Know If I’m Eligible For Bankruptcy Relief?
When you work with The Law Offices of Theron D. Morrison, the process for filing bankruptcy is made simple. Every step of the way you can count on us to work closely with you. Start the process with a free consultation to discuss your options and see if bankruptcy is the right process for you, and if it is, to determine which type of bankruptcy will best suit your needs.
The most common two types of bankruptcy that are utilized by individuals are Chapter 7 bankruptcy and Chapter 13 bankruptcy. During your consultation, we will talk about the eligibility for both types of bankruptcy. For some of the basics about Chapter 7 bankruptcy and Chapter 13 bankruptcy continue reading or contact one of our bankruptcy lawyers located in Ogden, Salt Lake City, Logan, or Orem Utah.
Chapter 7 Bankruptcy Eligibility
Most of the people who choose to file for Chapter 7 bankruptcy have a low income and not many assets that they need to protect. If you are considering filing for Chapter 7 bankruptcy, there are two basic requirements that determine eligibility.
- If you have previously filed for a Chapter 7 bankruptcy, there is a mandatory waiting time of eight years before you can file for another Chapter 7 bankruptcy. Filing for a Chapter 13 bankruptcy can be another option even if you have filed a previous Chapter 7 bankruptcy.
- There are economic qualifications for being eligible to file for a Chapter 7 Bankruptcy. This is determined by an economic means test which looks at the last six months of your income and your family size to see if you qualify economically for a Chapter 7 bankruptcy. The majority of the individuals that we are contacted by find that they qualify to file for a Chapter 7 bankruptcy. If you find that you are not eligible for a Chapter 7 bankruptcy, there is often relief available by filing for a Chapter 13 bankruptcy.
Chapter 13 Bankruptcy Eligibility
Most people who do not qualify for a Chapter 7 bankruptcy are able to qualify for a Chapter 13 bankruptcy. Many times a Chapter 13 is used to protect assets are not exempt. In addition, a Chapter 13 may allow you to save your home from foreclosure or a car from repossession.
Contact Us
Speak with a bankruptcy attorney by calling (801)528-6759 or contact us through email.