Am I Eligible for Chapter 13 Bankruptcy?
Before you can pursue any form of bankruptcy, you must first make sure you qualify and meet all the requirements. If you are facing a large amount of debt and feel like there is no way out, you may consider filing for Chapter 13 bankruptcy as a way to start working toward financial stability. Many debtors choose Chapter 13 bankruptcy over Chapter 7 because it allows them to keep their assets as they slowly pay off debts over a period of three to five years.
Chapter 13 bankruptcy can only benefit you if you qualify. If you or someone you know is experiencing large amount of debt, you need to take action and consider bankruptcy. For more information about your case and whether or not you qualify contact a Raleigh bankruptcy attorney of the Bradford Law Offices, PLLC, today at 919-758-8879 and schedule a free consultation.
Chapter 13 Requirements
In order to qualify for Chapter 13 bankruptcy, you must first meet a number of qualifications before you can begin paying off your debts. These qualifications include:
- Must have tax return forms that are up-to-date
- Have to have some sort of income so you can pay off your debts
- Secured debt cannot exceed $1,010,650 and unsecured debt must not exceed $336,900
If you are unsure whether you meet these qualifications, speak with a knowledgeable legal professional about your situation and options.
At the Bradford Law Offices, PLLC, we are committed to helping people get out of debt so they can move on with their lives. Contact a Raleigh Chapter 13 bankruptcy lawyer today at 919-758-8879 to get started.