Can I file for chapter 7 bankruptcy after I sold my home?

Yes. You can file for chapter 7 bankruptcy after you sold your home. Chapter 7 bankruptcy will eliminate your unsecured debts. However, you have to pass the means test. You may not be able to qualify if your income is too high. It is advisable that you schedule an appointment with a bankruptcy lawyer to evaluate your individual financial situation.

Yes.

Assuming you otherwise qualify and everything else is no problem, having sold a house or any other asset or property is not a problem assuming you received the fair market value of what you sold. However, you have to account for the money if you sold assets. The money just cannot disappear. Otherwise, people would sell assets they could not protect in bankruptcy, put the cash under the matress and file for bankruptcy and not pay any debts. Obviously, some people do get away with that, which is known as bankruptcy fraud and probably perjury since some of the questions in the bankruptcy petition would have to be answered untruthfully. However, some people have their discharge denied, lose property and even go to prison for fraud and lying. If you sold a house for a fair price and needed the money to live or put the money in an exempt account up to a reasonable limit, then it should be no problem with the sale if you need to file a bankruptcy case.

Yes, if you qualify based upon income levels. There is no requirement that you be a home owner to file for bankruptcy. If you are looking for assistance with filing a chapter 7 bankruptcy, please contact me for a free consultation.

Yes.