Chapter 7 Eligibility Requirements
If you are drowning in debt, the best thing you can do is call an Indiana bankruptcy lawyer. Chapter 7 bankruptcy allows people who qualify to discharge their debts while still keeping some of the assets that they can still afford.
At Walton Legal Services, our Indiana bankruptcy attorneys can talk to you about whether you qualify for Chapter 7 bankruptcy. We work to provide personalized service to every one of our clients, while making sure our clients get through the bankruptcy process as efficiently as possible.
Walton Legal Services: More than 30 years | More than 30,000 bankruptcies filed
We never judge our clients. After helping so many people from all walks of life find financial freedom through bankruptcy, we know that this problem can happen to anyone. We want to help you get back on your feet.
The Means Test
The means test is used to determine eligibility for Chapter 7 bankruptcy. To qualify, you must earn less than the maximum amount per year, based on the number of people in your household.
You are allowed to file Chapter 7 if you earn the following:
- Single-person households: less than $40,135
- Two-person households: less than $51,104
- Three-person households: less than $59,028
- Four-person households: Less than $69,226
Other Options
Most people who are in serious debt are able to pass the means test easily. However, even if you are above the means test maximum income for your household size, you may still qualify for a Chapter 7, depending on the extent and nature of your expenses. We will work diligently with you to see if you can possibly file Chapter 7. Also, most people who do not pass the means test can still qualify for Chapter 13 bankruptcy.
If you are looking for an Indianapolis debt-relief lawyer to help you find the road to financial freedom, call one of our Indianapolis law offices, call our Columbus, Indiana, office or contact us online. We offer free initial consultations, and we give you detailed up-front information about our fee arrangements, so there will be no surprises.
