How do I know if I am eligible for Chapter 7 Bankruptcy?

To know if you are eligible for Chapter 7 Bankruptcy in Texas, you should consider a few factors. Firstly, you must pass a means test. This test compares your income and expenses to the median income in your state. If your income is lower than the state median, then you may qualify for Chapter 7 Bankruptcy. Secondly, you must also be current on certain payments. These could include spousal or child support payments, student loan payments, or payments to the IRS. If you are not current on these payments, you may not qualify for Chapter 7 Bankruptcy. Finally, you must also complete a Credit Counseling Course. This course provides information on how to manage debt and develop a budget. You must complete the course within 180 days of filing for bankruptcy in order to be eligible for Chapter 7 Bankruptcy. To be sure if you are eligible for Chapter 7 Bankruptcy, you should contact a bankruptcy attorney in your area. They can assist you in understanding the eligibility requirements and provide guidance on the steps you need to take to qualify.

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How do I know if I am eligible for Chapter 7 Bankruptcy?

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