Dallas Chapter 7 bankruptcy attorney Explains Chapter 7 Eligibility

A Dallas Chapter 7 bankruptcy attorney can help you figure out if you are eligible to file a Chapter 7 bankruptcy. Your attorney will go through the stipulations that may dictate whether you are eligible to file for bankruptcy.

Income below Average State Levels

To be eligible for bankruptcy, your average income for the last six months must be lower than the state median for your family’s size. If your income is more than the state’s median income, you will need to prove that your unsecured debts are such that you cannot afford to pay them.

Utilization of Credit Counseling

Before you can file for a Chapter 7, you must show that you have received credit counseling with a U.S. Department of Justice credit-counseling agency. A lawyer may be able to point you in the right direction, or you may consult the Department of Justice website for a list.

Find Out if Bankruptcy Trustee Can Sell Your Home

In some cases, a bankruptcy trustee could sell your house so that you’ll have money to pay off your debts. However, some property cannot be sold. Before you file bankruptcy, seek consultation with a lawyer to determine if you could lose your home. This is especially important if you goal in bankruptcy is to delay foreclosure.

A Dallas Chapter 7 bankruptcy attorney can help you understand if you meet the eligibility requirements and guide you through the process of filing Chapter 7. Contact Warren & Migliaccio for help today at 888-584-9614.