Do I Qualify for Chapter 7?

Posted on behalf of the Bornmann Law Group, PLLC.  on Monday, May 7th.

Are you considering filing for bankruptcy but are not sure if you qualify?  To qualify for relief under chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity. Subject to a means test for individual debtors, relief is available under chapter 7 irrespective of the amount of the debtor’s debts or whether the debtor is solvent or insolvent. Chapter 7 bankruptcy is the most popular form of bankruptcy for individuals, families, and businesses in Tucson, Arizona.

There are certain things that can stop someone from filing for chapter 7 bankruptcy.  An individual cannot file under chapter 7 or any other chapter, however, if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or the debtor voluntarily dismissed the previous case after creditors sought relief. In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing.  The credit counseling is part of laws passed during the bankruptcy changes of 2005.

For many people in the Tucson, Arizona area, filing bankruptcy is something that they have to do in order to get them a “Fresh Start”.  The debtor has no liability for discharged debts. In chapter 7 bankruptcy filings a discharge is only available to individual debtors, not to partnerships or corporations. Although an individual chapter 7 case usually results in a discharge of debts, the right to a discharge is not absolute, and some types of debts are not discharged.  Chapter 7 bankruptcy is fairly straight-forward, however, there are many rules and hiccups that could cause a person to jeopardize their ability to file for chapter 7 bankruptcy.

Contact an experienced bankruptcy lawyer at the Bornmann Law Group, PLLC.  The Tucson bankruptcy law firm offers free bankruptcy consultations and free debt evaluations.  Instead of guessing with your options, ask the experts who will steer you in the right direction.  There are many forms of debt relief available to residents in Tucson and throughout Pima County in Arizona, if you don’t qualify for chapter 7 bankruptcy, there are several alternatives to bankruptcy that you will qualify.  Call today and find out your options.

If you have questions about qualifying for chapter 7 or chapter 13 bankruptcy in Tucson, Arizona, please give our Tucson bankruptcy law firm a call at (520) 306-8729.  There is life after bankruptcy. Our experienced Tucson bankruptcy lawyers look forward to assisting you.