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

In Nebraska, to be eligible for Chapter 7 bankruptcy you must pass the means test, which looks at your income and your living expenses. If your income is below the median income for your area or your expenses are higher than your income, you will be allowed to file Chapter 7. If you do not qualify for Chapter 7 bankruptcy then you may be eligible for Chapter 13 bankruptcy. In this case, the court will look at your income and the amount of debt you owe. If the debt is too large to pay off in three to five years then you will be allowed to file for Chapter 13. The court may also consider other factors such as your age, employment, and health. It is important to note that filing for either Chapter 7 or Chapter 13 bankruptcy does not guarantee that the bankruptcy will be accepted by the court. A judge may decide to reject your bankruptcy petition if it does not meet the criteria. Therefore, it is important to consult with a knowledgeable and experienced bankruptcy lawyer to determine your eligibility for either Chapter 7 or Chapter 13 bankruptcy. The lawyer can help to ensure that all legal requirements are met and that the bankruptcy is accepted by the court.

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

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