How do I know if I’m eligible for Chapter 7 Bankruptcy?

In Ohio, eligibility for Chapter 7 Bankruptcy is based on the debtor’s income and expenses. To determine if you’re eligible for Chapter 7 Bankruptcy, you must first pass a “means test.” This test compares your monthly income and expenses to the median income for a similar household. If your income is equal to or below the median income level, you’ll likely qualify for Chapter 7 Bankruptcy. If your income is above the median income level, you may still qualify for Chapter 7 Bankruptcy under certain circumstances. In addition to the means test, you must meet certain qualifications to be eligible for Chapter 7 Bankruptcy. These qualifications include having a regular income, not having had a bankruptcy discharged in the last eight years, and having a valid reason for filing for bankruptcy. You must also provide a complete list of your creditors, a list of all of your assets, and a list of all of your debts. Once you’ve determined you’re eligible for Chapter 7 Bankruptcy, you’ll need to consult with an experienced bankruptcy attorney. The attorney will help you understand the process and guide you through it. Additionally, they’ll evaluate your individual situation to help ensure you’re pursuing the best option for your financial situation.

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How do I know if I’m eligible for Chapter 7 Bankruptcy?

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