Qualifying for Chapter 7 Bankruptcy
Since Chapter 7 Bankruptcy completely wipes out debt, there are stringent standards. Qualifying for Chapter 7 Bankruptcy is well defined, and is not determined by the experienced Minnesota bankruptcy lawyer you meet with at our law firm or any other law firm. The United States Bankruptcy Code sets the qualifications for Chapter 7 Bankruptcy.
Before filing a Chapter 7 Bankruptcy in Minnesota, you will need to ensure that you know more about qualifying for Chapter 7 bankruptcy. In short, the criteria for qualifying for Chapter 7 Bankruptcy are:
- No bankruptcy discharge in the previous six to eight years (depending on the type of bankruptcy)
- Qualify under the Chapter 7 Bankruptcy “Means Test”
Filing for the wrong type of bankruptcy can have a dramatic affect on your life.
Speak with one of our experienced Minnesota bankruptcy lawyers to learn about the options available to you and which type of bankruptcy best suits your specific circumstances.