How do I know what chapter of bankruptcy is right for me? - Bankruptcy Law Questions and Answers- LawQA.com

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How do I know what chapter of bankruptcy is right for me?

My spouse is the only one with a job and we cant afford to pay the bills anymore. We have a steady income, but its only enough to cover the interest on your debts. What can we do?

Answer By Asaph Abrams
Law Office of Asaph Abrams
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Generally chapters 7 and 13 of Title 11 (the Bankruptcy Code) apply to consumers. An integral part of a face-to-face attorney & prospective-client meeting is to determine your lucky number: 7 or 13. This answer (as well as our Web site) doesn't address all facts & implications of the question; it's general info, not legal advice to be relied upon; it creates no attorney-client relationship; it may be pertinent to CA only; it's independent of other answers. Hire legal counsel before acting or refraining from bankruptcy/legal action.

Answer Applies to: California
Replied: 8/12/2011

Mercado & Hartung, PLLC
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Generally, i advise filing a ch 7 unless you don't qualify under the means test. however, a chapter 13 could be a better option for you depending on your situation. contact a local attorney to get specifics.

Answer Applies to: Washington
Replied: 8/10/2011

Answer By Mengjun Qiu
The Law Offices of Kristy Qiu
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1. Do you own a home and are you late on mortgage payments? 2. Assuming the answer to the question above is yes, are you trying to save your home? If the answer to both of the questions above is Yes, you need a Chapter 13. Otherwise Chapter 7 might be an option for you. Although if you don't even know what type of bankruptcy you need, I highly suggest that you hire a lawyer - most pro se cases end up being dismissed.

Answer Applies to: Florida
Replied: 8/10/2011

Answer By Tony Mankus
Mankus & Marchan, LTD
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There are many factors to consider. You should consult with a bankruptcy attorney.

Answer Applies to: Illinois
Replied: 8/10/2011

Engberg Law Office
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The type of bankruptcy is based on your income over the last six months. It is also based on the number of persons in your family. In SD a family of two, the income limit is $53, 443.00. If you are under this amount you can do a Chapter 7. The limit goes up with each child. There are exceptions with special circumstances.

Answer Applies to: South Dakota
Replied: 8/10/2011

Theodore N. Stapleton, PC
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Chapter 7 is a liquidation and chapter 13 is a wage earner repayment plan. There are many facts that determine which chapter to file. I am happy to discuss the issue with you.

Answer Applies to: Georgia
Replied: 8/10/2011

Answer By Eric Lewis
Indianapolis Bankruptcy Law Office of Eric C. Lewis
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What chapter of bankruptcy relief is available or suitable for someone is highly dependent on your unique situation and cannot be told without a full analysis of your financial condition. Typically, Chapter 7 is what most people file when they have little to no assets and insufficient income to build a meaningful savings. Chapter 13 is also widely employed.

Answer Applies to: Indiana
Replied: 8/10/2011

Answer By Mark Markus
The Law Office of Mark J. Markus
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You should have a consultation with a bankruptcy attorney in your state to determine your options and eligibility.

Answer Applies to: California
Replied: 8/9/2011

Answer By Joseph Iarussi
Advanced Litigation Services
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Most likely you file for Chapter 7 (discharge of all your debts) not a Chapter 13 (court ordered repayment plan for a term of years).Your income and other factors will determine if you are eligible for a Chapter 7

Answer Applies to: Nevada
Replied: 8/9/2011

Answer By Kevin Heupel
Heupel Law
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Determining the right chapter depends on your income, type of debts, and your assets. Without knowing more, it is too difficult to tell you whether to file Chapter 7, 11 or 13. However, we offer free consultations. Please call 720-319-8900 to schedule your free consultation.

Answer Applies to: Colorado
Replied: 8/9/2011

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