Can I keep my house or car if I file for Chapter 7 bankruptcy?

Yes, many people do keep their homes and automobiles even after filing for Chapter 7.

Do I qualifiy to file?

Any individual who has not filed for bankruptcy within the previous 8 years and who passes the means test can file for Chapter 7.

What is a means test?

Before you file for Chapter 7 you must complete the means test to see if you qualify for a discharge. Most debtors qualify. If your income is at or lower than the median income for your city and state then you automatically qualify. however, if your income is over the median income, you may still qualfy.

Do I meet with a lawyer or a paralegal to answer my questions?

You will have personal one-on-one contact with a lawyer from start to finish of your case.

How long does a case last?

Typically, cases last about 60-90 days.

Resource Links

Consumer Credit Counseling Service

AAA Personal Finance

Credit Reports