How do I know if I can file for Chapter 7 Bankruptcy?

Filing for Chapter 7 Bankruptcy in Washington can help people reduce or eliminate their debt. To determine if you can file for Chapter 7 Bankruptcy in Washington, you need to know the requirements. First, you must qualify for a Chapter 7 Bankruptcy based on the means test. The means test looks at your average monthly income over the six months before you file. If your income is within the median income for a household of the same size in Washington, you are legally allowed to file for Chapter 7 Bankruptcy. If your income exceeds the median, then you may still be allowed to file if your disposable income (income after subtracting allowed expenses) is low enough. Second, you must have taken a credit counseling course with an approved agency within six months before filing for bankruptcy. The course must be approved by the US Trustee Program and have been taken within the 180 days prior to filing your case. Third, you must have completed a Debtor Education course. This course can help you develop a personal budget, manage money and use credit responsibly, and must be completed before your debts can be discharged. Finally, you must have all of the required documents in order to file the bankruptcy petition. This includes income tax returns for the past two years, proof of residence and a list of all of your creditors, as well as the amounts you owe. If you meet all of these requirements, you may qualify for Chapter 7 Bankruptcy in Washington. Once you know that you are eligible, you can use the services of an attorney or other professional to help you prepare for and go through the bankruptcy process.

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