Am I eligible for Bankruptcy?
Bankruptcy gives many people the opportunity for a financial fresh start. When you work with us, we review your financial situation, look at the options that are available and determine the course of action that best addresses your financial situation. For many people that is filing Chapter 7, for others it may be Chapter 13 and finally some people are not well served by the bankruptcy process.
After your free initial consultation you will be required to take the means test. The Means Test is a tool that the Bankruptcy court uses to determine if you qualify to file Chapter 7 Bankruptcy. This test uses a complex formula to compare your income, expenses and family size to the median income of similar North Carolina households.
For income levels below state median you will qualify for Chapter 7. Even if your income is above the state median income you may still qualify for Chapter 7 after a detailed analysis of your financial situation. For people with income above the state median income Chapter 13 may be an option to provide considerable debt relief.
Call our office to schedule your free Consumer Bankruptcy consultation.