How do I know if I qualify for a Chapter 13 bankruptcy?

To qualify for Chapter 13 bankruptcy in the District of Columbia, you must meet certain eligibility requirements. First, you must have a regular source of income, such as wages or self-employment. You must also have enough disposable income to meet your monthly payment obligations in a repayment plan. Additionally, your total unsecured debt (such as credit card debt or medical bills) must be less than $394,725 and your total secured debt (such as a mortgage or car loan) must be less than $1,184,200. You must also have filed all of your tax returns for the preceding four years before filing for Chapter 13 bankruptcy. Additionally, you can only file for a Chapter 13 bankruptcy once every two years, and the U.S. Trustee must approve your repayment plan—which outlines how you will make payments over a three- to five-year period—before it can take effect. If you cannot complete your repayment plan in the allotted time, the remainder of your debt will be discharged. If you think you meet these qualifications, you should contact a bankruptcy attorney who can advise you on how to proceed. An attorney can help you decide if filing for Chapter 13 bankruptcy is the right option for you, as well as help you file the necessary paperwork.

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How do I know if I qualify for a Chapter 13 bankruptcy?

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