Eligibility Requirements For Bankruptcy In West Michigan
At Vincent E. Carlson & Associates, PLC, we will help you understand these requirements, tally your debts, and empower you to begin the process of filing for bankruptcy, should you qualify. Bankruptcy is nothing to be ashamed of; you have the right to use this legal tool to help you manage debt, get a fresh start, and build a better future for yourself, your family, and your business.
To be eligible for Chapter 7 Bankruptcy, your family’s gross income level must be lower than the median income for a family in Michigan.
If you exceed the maximum income level, you may still qualify for Chapter 13 bankruptcy.
To qualify for Chapter 13 Bankruptcy, you must be employed. This includes being self-employed and running your own business.
Your combined debts must be under 2.75 million dollars, and you must also have received credit counseling from an approved agency within 180 days of filing.
