How do I know if I am eligible for Chapter 7 or Chapter 13 bankruptcy?

In order to be eligible for Chapter 7 or Chapter 13 bankruptcy in Kansas, you must meet certain requirements. To file for Chapter 7 bankruptcy, you must first determine if you are eligible to handle the debt on your own. To be eligible for Chapter 7, you must pass a means test, which evaluates your income and expenses to ensure you do not have the means to pay off your debt without filing bankruptcy. Meanwhile, Chapter 13 bankruptcy is available to debtors who are capable of repaying a portion of their debts. To be eligible for Chapter 13 bankruptcy, you must have a regular source of income and sufficient disposable income to fund a repayment plan. In addition, you must meet certain limits on debt amount and secured debt (such as a mortgage or car loan) to be eligible for Chapter 13 bankruptcy. For more information about bankruptcy eligibility in Kansas, contact an experienced bankruptcy attorney. A qualified attorney can review your specific financial situation and provide you with individualized advice about what type of bankruptcy is best for you.

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How do I know if I am eligible for Chapter 7 or Chapter 13 bankruptcy?

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