Chapter 13 Eligibility
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Many consumers consider filing chapter 13 bankruptcy in order to protect their home or other property, because they have too much disposable income according to the ch 7 bankruptcy means test, or because they believe they have a responsibility to repay their debts. There are only a few requirements a consumer must meet in order to be eligible to file a ch 13:
Individuals Only
Only individuals can file a ch 13, they can file separately, together with a spouse, or as a single filer. Filers may be self employed, employed, or operating an unincorporated business. A corporation or partnership business is not eligible to file a chapter 13 bankruptcy.
Unsecured and Secured Debt Amounts
An individual or couple filing ch 13 must have less than $336,900 in unsecured debts, and less than $1,010,650 in secured debts. These amounts do change according to the consumer price index, but these are the numbers as of the writing of this article.
Dismissed Bankruptcy
If you have a bankruptcy that was dismissed within the last 180 days due to failing to appear before the court, failure to comply with court orders, or you voluntarily dismissed a petition after your creditors tried to recover property through the bankruptcy court for which they have liens, you are not eligible to file a chapter 13 bankruptcy.
Credit Counseling
In the 180 days before filing a ch 13, you must complete credit counseling through a bankruptcy court approved credit counseling agency. (There are emergency exceptions and areas where there are not enough agencies to handle the counseling.) If the credit counseling agency develops a debt management plan, it must be filed with the court along with your bankruptcy petition.
If you meet the above criteria then you are eligible to file a chapter 13 bankruptcy petition.
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