Keyword Analysis & Research: who can file for bankruptcy chapter 7

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Frequently Asked Questions

How often can a person file a Chapter 7 bankrup?

Under the Bankruptcy Code, there is no limit to the number of Chapter 7 cases an individual is permitted to file. Technically, there is also no time limit between your filings. You could file for bankruptcy as many times and as quickly as you want.

Can high earners file for Chapter 7 bankruptcy?

Often a high income earner can qualify for Chapter 7 bankruptcy, even when they have been told they can’t. In addition to the above example involving tax debt debts, there are many other scenarios that can play out to allow you to have a Chapter 7 bankruptcy discharge. A bankruptcy law specialist should know where the holes are in the means test.

Who is not eligible for Chapter 7 bankruptcy?

When someone files for bankruptcy, it is essential to look at his or her income in the period leading up to filing. If the income in the six months prior is over the state median income, Chapter 7 is not an option for the individual.

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