How do I know if I will qualify for Chapter 7 Bankruptcy?

In Massachusetts, anyone looking to file for Chapter 7 Bankruptcy must meet certain criteria to be able to qualify. To know whether you will qualify for Chapter 7 Bankruptcy in Massachusetts, you first need to determine if your income falls below the median income level for a household of your size in the state. This is known as the “means test”. In addition to the means test, Chapter 7 Bankruptcy filers must also be up to date on all mandatory credit counseling sessions before filing. This is a requirement in all states, including Massachusetts. Additionally, Chapter 7 Bankruptcy filers must be able to prove to the court that their assets do not exceed the allowable exemption amounts. These allowable exemption amounts vary by state, so it is important to check the specific rules that apply in Massachusetts. Lastly, Chapter 7 Bankruptcy filers must not have attempted to file for Bankruptcy in the last 180 days. This 180-day rule applies to filings in all states. By making sure that you meet all of the above criteria, you can be confident that you will qualify for Chapter 7 Bankruptcy in Massachusetts.

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How do I know if I will qualify for Chapter 7 Bankruptcy?

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