What are the requirements to file for bankruptcy?

In West Virginia, the requirements to file for bankruptcy depend on the type of bankruptcy you are filing. Under Chapter 7 of the United States Bankruptcy Code, you must pass a means test to prove that you do not have enough income to repay your debt. This involves comparing your income and expenses to the median income for a household of your size in your current state of residence. To file under Chapter 13 of the United States Bankruptcy Code, you must have a regular income and you must be up-to-date with child support or alimony payments. You must also provide the court with a repayment plan that demonstrates that you can repay your debt in full or in part over the course of three to five years. In addition to these requirements, all bankruptcy petitioners must attend credit counseling and money management classes, and they must submit specific financial documents to the court. These documents include tax returns, recent pay stubs, bank statements, and a list of your assets and liabilities. Overall, filing for bankruptcy in West Virginia is a complicated process and requires careful consideration. It is important to research all of the requirements and seek legal advice if you are considering filing for bankruptcy.

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What are the requirements to file for bankruptcy?

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