Means Tests, Prior Filings, Illinois Bankruptcy Eligibility
Unfortunately, many people choose not to seek the guidance of a bankruptcy attorney because they assume that they are not eligible for bankruptcy relief. They either assume that they make too much money to qualify for bankruptcy or they assume that a previous bankruptcy filing will make them ineligible for further relief.
I am Peoria bankruptcy eligibility lawyer Charles Covey, and I am pleased to offer a free consultation if you have questions about your eligibility for Chapter 7 or Chapter 13 bankruptcy. You may be surprised to learn that the majority of people who contact my office are eligible for Chapter 7 bankruptcy. Many of the individuals who are not eligible for Chapter 7 bankruptcy are eligible for Chapter 13 bankruptcy.
In most cases, the critical issue is not whether you are eligible, but which type of bankruptcy is right for you. To learn more, contact my law office in Peoria, Illinois.
Eligibility for Chapter 7 and Chapter 13 Bankruptcy
At your free consultation, I can perform a more thorough review of your information to determine if you are eligible for bankruptcy relief. However, I can provide some basic information on this site that may be helpful:
- The fact that you have full-time employment and a reasonable salary does not mean that you are ineligible for bankruptcy relief. Chapter 7 bankruptcy does have a means test, but many people are surprised to learn that they do qualify for Chapter 7 relief. Once again, many of those who do not satisfy the Chapter 7 means test may still obtain critical debt relief through a Chapter 13 bankruptcy.
- An individual may file for bankruptcy more than once during his or her lifetime. If you have previously obtained a Chapter 7 discharge, you must wait eight years from the date of your previous Chapter 7 filing to file another Chapter 7 bankruptcy. However, you may file for a Chapter 13 bankruptcy just four years after the date you previously filed for Chapter 7 bankruptcy.
- If you previously obtained debt relief through a Chapter 13 bankruptcy, you must wait six years from the date of your fling to file for Chapter 7 bankruptcy or two years from the date of your filing to file for a subsequent Chapter 13 bankruptcy. These are general rules and exceptions exist.
Contact a Peoria Bankruptcy Lawyer
Call 309-674-8125 to schedule your free consultation. You may also contact me by e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
