Eligibility Requirements for Chapter 13 Bankruptcy
Filing for bankruptcy can be a difficult decision, depending on the severity of your debt and financial burden. Luckily you have options for how you go about the process and what support you will seek for the decision. One important first step for deciding to file for bankruptcy is determining your eligibility for the program.
If you are considering filing for bankruptcy, it is important you seek the support and assistance of an experienced legal professional who can help you through the process. The talented Boca Raton bankruptcy lawyers of Eric N. Klein & Associates, P.A. can help you through this trying process so you can get back on your feet and on with your life. Contact our office today at 561-353-2800 to speak with an attorney about your options.
Chapter 13 Bankruptcy Eligibility
If you are facing serious financial burdens, you may want to consider filing for Chapter 13 bankruptcy. If you meet the following criteria, you may be eligible to file for this form of assistance:
- You are an individual and not a business or corporation
- All your unsecured debts total less than $360,475.
- All your secured debts total less than $1,081,400.
- You have not had a bankruptcy filing dismissed in the past 180 days, whether it was voluntarily or by demand of the court.
- You have received credit counseling within the past 180 days prior to filing.
In addition, Chapter 13 requires that debtors have a reliable source of income from which to pay back their debts over a set period of time, usually between 3 and 5 years.
Contact Us
If you are considering filing for Chapter 13 bankruptcy, the experienced Boca Raton bankruptcy lawyers at Eric N. Klein & Associates, P.A. would like to help. Contact our office today at 561-353-2800 to learn more about your filing options from a knowledgeable legal professional.
