What are the requirements to file for bankruptcy?

To file for bankruptcy in Indiana, you must meet certain requirements. Firstly, before you are allowed to file for bankruptcy, you must complete a credit counseling session. This course will help you understand your financial situation and the consequences of filing for bankruptcy. Secondly, you must have lived in the state of Indiana for at least the last 915 days (about two and a half years). Additionally, you must have filed any necessary state or federal tax returns within the last four years. In addition to the credit counseling course and residency requirements, debtors in Indiana must prove that they are eligible to file for bankruptcy by passing a means test. The means test examines whether or not the debtor has enough income to make payments on their debt; if the debtor does not have the necessary income, they are allowed to file for bankruptcy. Finally, to file for bankruptcy in Indiana, you must complete the appropriate paperwork. This includes providing copies of your income, expenses, debts, and assets, and completing a statement of your financial affairs. After completing all of the required paperwork, you can file for bankruptcy with the bankruptcy court in the district where you live.

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