Stockton Chapter 7 Bankruptcy Requirement
What are the Stockton chapter 7 bankruptcy requirements?
There are several criteria’s you must meet. Some Stockton chapter 7 bankruptcy requirements are that the courts will dismiss your case if your income cannot be over a certain amount. In the case that your income exceeds that stated amount you must take a “means test” Also, the courts will dismiss your case if you have previously filed bankruptcy within a certain amount of time, or, if the court system feels that you are trying to cheat your creditors.
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Part of the Stockton chapter 7 bankruptcy requirements is a means test.
The means test is for eligibility for a Chapter 7 bankruptcy. If you fail the means test your case will be thrown out (dismissed) or changed to a Chapter 12. If your income is under the median you will be eligible for a Chapter 7 bankruptcy. If your income is greater than, then you must pass a “means test.” For information concerning the means test contact a bankruptcy attorney today and set up a consultation date!
What are some other Stockton chapter 7 bankruptcy requirements?
With the bankruptcy petition and a schedule the debtor (you) must file all pay stubs or anything pertaining to an income. This must be done during the 60 day preceding of filing bankruptcy. The trustee must be given copies of your most recent tax returns. This must be done within 7 days prior to meeting with creditors. This is a Stockton chapter 7 bankruptcy requirements, it has to be done. There is no getting around it. Stockton chapter 7 bankruptcy requirements
Is getting legal help a part of Stockton chapter 7 bankruptcy requirements?
No its not. This is a very important decision to make. Bankruptcy is not a joke! Bankruptcy can be a very emotional road. Once you have decided that you are going to file bankruptcy , all paperwork must be complete and correct. A Stockton chapter 7 bankruptcy requirement is that you follow all bankruptcy rules! So, make sure you hire a fantastic bankruptcy attorney! If you choose to take on legal help, your attorney will make sure that all paperwork and scheduling is done and complete. They will also be the ones to make sure all deadlines are met, and rules are followed.
Want to find out more about Stockton chapter 7 bankruptcy requirements?
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