I want help straighten my credit do I qualify for Chapter 7?

There are many considerations. For instance, there are 2 economic thresholds to file Ch. 7 bankruptcy: 1. means test, & 2. current & projected budget & income. If you make more than median income, you must undergo a means test. And your current & projected budget must totally consume your income; if you have much at all left over you do not qualify for chapter 7. Even if you qualify, you need to be certain you are not putting any assets at risk in your case. To that end, I would need to determine which bankruptcy exemption scheme(s) can be utilized.

Whether you qualify for chapter 7 bankruptcy requires knowing a great deal more about your household income, debts, and assets. You should consider doing more research or scheduling a consultation with a bankruptcy attorney. Most offer free consultations. After you're done you'll have a much better idea whether you qualify or not.

You need to contact a bankruptcy attorney- he/she will review both your income and the value of your assets to determine if you are eligible for Chapter 7 relief.

Unless you have already filed a chapter 7 case within the last 8 years, you may well qualify for a chapter 7 bankruptcy case. However, without much more information, like your income and expenses and household size, it is impossible to know for certain. You should consult with an attorney to review your best options.

Normally, yes. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step. Most Arizona bankruptcy attorneys offer a free consultation about the basics of bankruptcy. I am attaching a link to some free videos that explain how bankruptcy works. http://www.dianedrain.com/Bankruptcy/BankruptcyQuestionnaires/BKQuestionnaireInd.htm. There is no cost for the initial discussion. Please take time to educate yourself about bankruptcy and to determine which attorney is the best to assist you in the process. Don't assume the attorney is being completely honest about their experience and capabilities. Check them out. Avoid the attorneys who advertise on TV or profess a 100% success rate in their Internet ads. It costs hundreds or thousands of dollars for these ads and someone has to pay for them - the clients. These attorneys mass produce the work and do not offer the client the hands on assistance that is necessary in a well-planned bankruptcy. Normally these firms assign all or most of the work to paralegals and the client rarely talks to an attorney. When interviewing the attorney ask them how long they have practiced bankruptcy law. Ask what percentage of their practice is focused on consumer work. Ask whether they are experienced in both chapter 7 and chapter 13 cases. Ask the attorney for references. Ask about their policy of returning phone calls. They should be committed to answering specific questions about your situation and help you understand your options. If, after talking with them you are still confused about the issues you raised, find another attorney. Check them out with the various ranking sources: such as www.AVVO.com, and the State Bar. An attorney is should be your guide through this process. They should educate you, be there to assist you in how to avoid pitfalls and help you plan for your future after bankruptcy.

These are two conflicting goals. Sort of like wanting to lose weight and to win an ice cream eating competition . Bankruptcy will harm your credit. What you do after the bankruptcy is over will determine how your credit scores change. Bankruptcy is appropriate if you need to eliminate an overwhelming amount of debt and you lack sufficient income to pay much more than just your living expenses.

The best way to find out the answer to your question is to make an appointment with a local bankruptcy attorney and bring with you all the documents and information that the attorney asks for. Many bankruptcy attorneys give a free or low-cost consultation, and they are supposed to evaluate your situation and advise you whether bankruptcy is suitable for you, or otherwise what you might do to help yourself. Hope this helps. Good luck to you.

In order to qualify for Chapter 7, you need to meet the means test. The means test is not a quick answer, but generally you look at your income and certain assets. Some cannot qualify if they make too much money. You can research whether you qualify for the means test or if you are not sure, visit an experienced attorney who knows how to do this and can tell you if you qualify.