QUESTION
Do we qualify for chapter 7 if we have bill over 4500 dollars?
Asked on Mar 20th, 2012 on Bankruptcy - California
More details to this question:
Income monthly is $2998. 1st /second mortgages and monthly bills total $4600. Do we qualify for chapter 7?
8 ANSWERS
Chapter 7 Bankruptcy Attorney serving Clinton, MS
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Timothy Kevin Byrne Attorney at Law
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Yes.
Answered on May 30th, 2013 at 7:51 PM
Bankruptcy Attorney serving Hampton, VA
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Haven Law Group, P.C.
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Yes.
Answered on May 30th, 2013 at 2:49 AM
Chapter 7 Bankruptcy Attorney serving Appleton, WI
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Sisson & Kachinsky Law Offices
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From the small amt of information u provider, it would seem as u u would quality for a chapter 7. My office would first have to run a "means test" to confirm this fact.
Answered on Mar 22nd, 2012 at 7:29 PM
Domestic Relations Attorney serving Huntsville, AL
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Ferguson & Ferguson
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Your income is not too high to file a chapter 7, but in order to file you also must be within your exemption levels on your property and not have filed a previous chapter 7 within the last 8 years.
Answered on Mar 22nd, 2012 at 2:32 PM
Bankruptcy Attorney serving Concord, CA
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William Rubendall Attorney at Law
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There is no requirement that expenses exceed income to file chapter 7. You should also explore chapter 13 to possibly strip the second mortgage.? Consult with a bankruptcy attorney.
Answered on Mar 22nd, 2012 at 9:07 AM
Probably yes, you do qualify.
Answered on Mar 22nd, 2012 at 7:39 AM
Bankruptcy Attorney serving Overland Park, KS
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The Smalley Law Firm, LLC
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Yes, you should generally qualify for Chapter 7. I suggest you consult a bankruptcy attorney to discuss the specific details of your situation.
Answered on Mar 22nd, 2012 at 7:06 AM
Bankruptcy Decision Attorney serving San Diego, CA
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Law Office of Daniel G. Shay
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You probably qualify. Income is most important. Check out the Means Test to determine.
Answered on Mar 21st, 2012 at 5:41 PM