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

In order to qualify for Chapter 7 bankruptcy in South Carolina, individuals must meet certain requirements. First, they must take a means test. This test will compare your current monthly income to the median income of other households in South Carolina. If your income is below the median, you should be eligible for bankruptcy. Second, individuals must also provide proof of their debts to the court. This can include credit card bills, medical bills, student loans, and other forms of debt. The court will review all of this information to determine if the individual qualifies for Chapter 7 bankruptcy. Finally, individuals must complete pre-filing credit counseling. This counseling must be completed within six months of filing for bankruptcy. The purpose of this counseling is to help individuals understand their financial situation and determine if bankruptcy is the right option for them. By understanding these requirements, you will know whether or not you will qualify for Chapter 7 bankruptcy in South Carolina. If you are unsure, it is best to consult a qualified bankruptcy attorney who can help guide you through the process.

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