To qualify for Chapter 13 bankruptcy:
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You must have regular income. This does not have to be a job and can be self-employment, family assistance, social security, disability income. As long as you show you can make your monthly court payment you can be file chapter 13.
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Your unsecured debt cannot exceed $419,275, and your secured debt cannot exceed $1,257,850. If you go over these limits and you want to restructure your debt then you will need to file Chapter 11.
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You must be current on tax filings. You don’t have to be up to date on tax filings to FILE your case but in order to get your case approved in 60 days you will have to have all missing taxes filed. If you are not required to file taxes then no problem, an affidavit can be filed which attests to that.
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You cannot have filed a bankruptcy petition (Chapter 7 or 13) in the previous 180 days that was voluntarily dismissed if certain motions were pending at that time.
We invite you to contact us either online or by phone at 404-919-7296 to schedule a FREE confidential consultation to review your personal financial situation and what options we can provide to protect you from creditors. For additional information about bankruptcy please also check out our YouTube Channel which has up to date vlogs on issues related to personal bankruptcy.
