An Aurora Chapter 7 bankruptcy is called a liquidation bankruptcy, meaning you agree to give up nonexempt property to pay creditors in order to get relief from unpaid debt. To qualify for an Aurora Chapter 7 bankruptcy, there are several requirements you must follow. You would do well to consult an Aurora Chapter 7 bankruptcy attorney if you are considering filing a Chapter 7 bankruptcy so you can be sure you qualify and understand the filing process in complete detail.
How Do I Qualify for a Littleton Chapter 7 Bankruptcy?
You did not file a Chapter 7 or Chapter 13 bankruptcy recently
You do not qualify for filing another Littleton Chapter 7 bankruptcy if you have just filed a Chapter 7 bankruptcy and received a bankruptcy discharge. There must be a waiting period of 8 years in between filing a Chapter 7 bankruptcy after already having filed a Chapter 7 bankruptcy. If you recently filed a Chapter 13 bankruptcy, you also cannot file another Chapter 7 bankruptcy right away. There is a waiting period of 6 years to file a Chapter 7 bankruptcy if you filed a Chapter 13 bankruptcy and received a bankruptcy discharge.
Your income is low enough to meet the means test and file a Chapter 7 bankruptcy
Another way you qualify for a Chapter 7 bankruptcy is by measuring your “current monthly income”. Your “current monthly income” includes your average income in the previous 6 months before filing bankruptcy. To meet the means test, your current monthly income must be below the Colorado median income for a family of your size. The means test determines whether your income is low enough to qualify for a Chapter 7 bankruptcy. Debtors whose income is too high will usually not qualify for a Chapter 7 bankruptcy in Littleton or Centennial and will have to file a Chapter 13 bankruptcy instead. If your current monthly income is equal or below the Colorado median income for a family size close to yours, you will meet the means test and qualify for a Chapter 7 bankruptcy.
You completed a credit counseling course within the past 180 days
You didn’t have a Chapter 7 or Chapter 13 bankruptcy that was dismissed within the past 180 days
If the reasons for a previous Chapter 7 or Chapter 13 bankruptcy case dismissal were that you violated a court order, or because you requested a case dismissal after a creditor filed a motion for relief from the automatic stay, you will not qualify for a Chapter 7 bankruptcy in Lone Tree, Colorado.
Centennial Chapter 7 Bankruptcy Lawyer Barry Arrington: Call Today
Working with Centennial Chapter 7 bankruptcy attorney Barry Arrington is wise if you are considering a Chapter 7 bankruptcy. Barry will help you figure out whether Chapter 7 bankruptcy makes sense for your financial situation and can help you qualify for a Chapter 7 bankruptcy. Call Barry today to set up a free initial consultation meeting and be on your way to your best, fresh start.
If you have more questions about qualifying for a Chapter 7 bankruptcy in Colorado, contact experienced bankruptcy attorney Barry Arrington today for a free consultation at 303-205-7870. Or, submit the “Get Bankruptcy Help Now” form. Barry will fight to get you the best, fresh start possible.