cu2005's Avatar
cu2005 13
164 Asked
486 Answered
44 Best
1
No one has voted on this question yet :(
1 year, 7 months ago

Who can't file "Chapter 7" bankruptcy?

I want to file one. Please help.
Tip for best answer: M$0.10
Separate topics with commas, or by pressing return. Use the delete or backspace key to edit or remove existing topics.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

What is Your Answer?

0
0
0

2 Answers

0
rumanaafrida's Avatar
rumanaafrida | 1 year, 7 months ago
10
There are several criteria for filling a Chapter 7 bankruptcy. If you violate them you can't file bankruptcy under that certain chapter. They are follows-

* Your income must not be over a certain amount.

* If you obtained a discharge of your debts in a Chapter 7 bankruptcy case within the last eight years or Chapter 13 case within the last six years, you cannot file for Chapter 7 bankruptcy.

* If a previous Chapter 7 or Chapter 13 case was dismissed within the past 180 daya, you cannot file bankruptcy.

* You cannot cheat your creditors or conceal assets.

Source: http://www.debt-to-income.com/bankruptcy-facts.html

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel
0
lvincentpoupard's Avatar
lvincentpoupard | 1 year, 7 months ago
20
If you debt does not exceed your ability to pay, you cannot file for bankruptcy. This issue is something that really needs to be explained in detail by an attourney specifically looking at your case. There used to be an easy formula that allowed you to plug in your monthly pay, the worth of your assets, and your debt. When the bankruptcy laws change about five years ago, this all changed.

If you have filed for bankruptcy in the last seven years, some states will not allow you to file again.

While I have a law degree (business law), I an not a attourney. I know well enough that there are certain answers that have to be gotten dirrectly from someone that can legally defend you and take your case.

Shop around your area. Chances are good that you will find a few law offices that take bankruptcy cases. Make sure that you get a free consultation. Never pay for your initial meeting with a bankruptcy attourney.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel

Learn something new with our FREE educational apps!

Private lessons in the comfort of your own home. Get back in shape or finally pick up a guitar with our great experts guiding you the whole way!
Learn Guitar
Learn Hip Hop
Learn Pilates