Do You Qualify For Chapter 7 Bankruptcy?

When it comes to bankruptcy, there are two main options: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves the discharge of most unsecured debt, while Chapter 13 is a debt reorganization and consolidation.

Not everyone qualifies for Chapter 7 bankruptcy. To determine if you are eligible, your local bankruptcy attorney from the Stone Law Firm will need to know your income, debt, and household size. They will then calculate your median state income and, if it is below the median, you will typically be able to file for Chapter 7. Many people who are underemployed or unemployed may qualify for Chapter 7 bankruptcy. If you do not qualify for Chapter 7, you may be able to file for Chapter 13 bankruptcy instead.

If you are considering bankruptcy, it is important to work with a qualified and experienced attorney. At the Stone Law Firm, we specialize in bankruptcy cases and have been helping residents of Columbia, Florence, Greenville and the surrounding areas. Our team is dedicated to easing your financial stress and helping you find financial freedom. Contact us to schedule a consultation and learn more about which type of bankruptcy may be right for you.

- Stone Law Firm