Error: Contact form not found.

Chapter 7 Bankruptcy

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Can I File Bankruptcy? Eligibility & What You Should Know

Can I File Bankruptcy If I’m Struggling With Debt?

If you’re wondering can I file bankruptcy due to overwhelming debt, you’re not alone. Many people ask this question when facing unpaid bills, lawsuits, or wage garnishments. Bankruptcy can offer a fresh start, but you must meet specific legal and financial criteria first.

This guide explains who qualifies, how the process works, and how to determine whether bankruptcy is the right solution for your situation.

Bankruptcy Basics: Who Can File and What It Means

Most individuals qualify for some form of bankruptcy, but the type you’re eligible for depends on your income, debt structure, and recent financial history.

Chapter 7 vs. Chapter 13

  • Chapter 7 Bankruptcy: Also called liquidation bankruptcy, this is for people with low income and minimal assets. It can discharge most unsecured debts like credit cards and medical bills.
  • Chapter 13 Bankruptcy: Also known as reorganization bankruptcy, this is for individuals with regular income who can repay a portion of their debt over 3 to 5 years.

When asking can I file bankruptcy, you’ll need to assess which chapter you qualify for—and which will offer the most protection based on your financial goals.

The Means Test

To file Chapter 7, you must pass a means test that compares your income to the median income in your state. If your income is too high, you may still qualify for Chapter 13.

Requirements You Must Meet Before You Can File Bankruptcy

Bankruptcy is a legal process, and there are several requirements to fulfill before you’re allowed to file.

Pre-Filing Credit Counseling

Before you can file bankruptcy, you must complete a credit counseling course from an approved provider within 180 days of your filing date.

Honest Disclosure of Finances

You must disclose all assets, debts, income, expenses, and recent financial transactions. Inaccurate or incomplete information can result in your case being denied or dismissed.

No Recent Bankruptcy Filings

If you’ve filed bankruptcy in the past, you may need to wait a specific period before filing again:

  • 8 years after a previous Chapter 7
  • 2 years after a previous Chapter 13

You Can Still File with:

  • A job or steady income
  • A pending lawsuit
  • Past-due taxes (some may still remain after discharge)
  • Repossessions or foreclosures in progress

If you’re asking, can I file bankruptcy with any of these issues? The answer is likely yes, but the details matter.

Can I File Bankruptcy Without Losing Everything?

One of the biggest concerns people have is whether they’ll lose all their possessions. Thankfully, most states allow for bankruptcy exemptions, which protect essential property.

Commonly Protected Assets

  • Your home (up to a certain equity limit)
  • Vehicles (within value limits)
  • Household furniture and appliances
  • Retirement accounts and pensions
  • Clothing and personal items

Filing bankruptcy does not mean starting over from scratch. With the right chapter and legal guidance, most people keep the assets they need to live and work.

Filing Bankruptcy Could Be the Right Path Forward

If you’re overwhelmed by debt and wondering can I file bankruptcy, the answer depends on your specific financial situation. However, most people who need relief do qualify for either Chapter 7 or Chapter 13. The process includes legal requirements, but it can provide powerful protection and a clear path toward financial recovery.

Get Help Answering Can I File Bankruptcy Today

Still asking yourself can I file bankruptcy and what steps you need to take? The best way to find out is by speaking with a legal professional. You don’t have to guess. Get a free evaluation from Bankruptcy Attorneys and get the answers you need to take the next step toward financial relief.

Frequently Asked Questions (FAQs)

Yes, having a job does not disqualify you. In fact, income is required for Chapter 13 plans.

Yes, medical debt is considered unsecured and is commonly discharged in both Chapter 7 and Chapter 13.

You can file again, but there are waiting periods based on the chapter you previously filed.

Yes, most people can keep their home through exemptions or by filing Chapter 13 to catch up on payments.

Yes, credit card debt is unsecured and typically dischargeable in both types of bankruptcy.

Key Takeaways

  • Most individuals qualify for either Chapter 7 or Chapter 13 bankruptcy
  • You must complete credit counseling and disclose all financial details
  • Bankruptcy exemptions protect essential property
  • Prior filings or high income may affect your eligibility
  • Legal guidance helps you determine if bankruptcy is the right option

Start Your Free Bankruptcy Evaluation

Step 1 of 6

What is your total debt?

Step 2 of 6

What is your total monthly income?

Step 3 of 6

Do You Own Real Estate?

Step 4 of 6

What is the estimated value of your assets?

Step 5 of 6

Is an attorney or advocate already helping you with your bankruptcy?

Step 6 of 6
By clicking "Submit" you agree that you will be contacted by a legal representative, participating attorney, or affiliate via phone (including autodialers, pre-recorded calls), email or SMS (Msg & Data rates may apply) about your interest in finding an attorney. Consent is not a condition of the services.
CHAPTER 7 BANKRUPTCY
CHAPTER 13 BANKRUPTCY
CHAPTER 11 BANKRUPTCY
FAQ