Bankruptcy Eligibility – As a bankruptcy attorney, I get this question all the time, who can file a chapter 7 bankruptcy? The answer is everybody with some exceptions, I have made a list of the common reasons that make you not bankruptcy eligible for a chapter 7.
(1) If you have been granted a discharge in a chapter 7 case that was filed within the last eight years.
(2) If you have been granted a discharge in a chapter 13 case that was filed within the last 6 years, unless 70% or more of your unsecured claims were paid off in the chapter 13 case.
(3) If you have obtained court approval of a written waiver of discharge in the previous chapter 7 case.
(4) If you conceal, transfer, or destroy property with the intent to defraud creditors or the trustee in the chapter 7 case.
(5) If you conceal, destroy or falsify records of your financial condition or business transactions.
(6) If you make false statements or claims in the chapter 7 case, or you withhold recorded information from the trustee.
(7) If you fail to satisfactorily explain any loss or deficiency of your assets.
(8) If you refuse to answer questions or obey orders of the bankruptcy court, either in your bankruptcy case or in the bankruptcy case of another person such as a relative, a business associate, or a corporation in which you have a relationship.
(9) A person who, after filing a bankruptcy, fails to complete an instructional course on personal financial management.
(10) A person who has been convicted of bankruptcy fraud.
(11) A person who owes a debt arising from a securities law violation.
If you have question about bankruptcy eligibility for chapter 7 bankruptcy, it is best to contact a bankruptcy attorney who can discuss your situation specifically. There are many exceptions to the bankruptcy eligibility rules, and only an experience bankruptcy attorney can assist you in determining if those exceptions apply to your specific case.
For more information about Bankruptcy – contact Cynthia Remboldt, at the Remboldt Law Firm at 404-348-4081.