What are the restrictions for filing for bankruptcy?

When filing for bankruptcy in Rhode Island, there are several restrictions to keep in mind. Firstly, debtors must have filed a Certificate of Credit Counseling before filing. This demonstrates that they have received advice on debt management and repayment by a qualified credit counseling agency. In addition, debtors must complete an approved financial management course before receiving a discharge. The course provides information on personal financial management and must be taken within 180 days of filing for bankruptcy. Debtors are not eligible to file for bankruptcy if their debts exceed the median income of their state. In Rhode Island, the median family income is $66,574. If a debtor exceeds this amount, they may not be eligible to file for bankruptcy. Finally, debtors must provide proof of income to the court at least 90 days before filing for bankruptcy. This is to prove that they are not able to pay their debts and that filing for bankruptcy is their last resort. Overall, it is important to consult with a qualified bankruptcy attorney to understand the restrictions for filing for bankruptcy in Rhode Island and determine if it is the right option for you.

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What are the restrictions for filing for bankruptcy?

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