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Bankruptcy Law Practice in Denver and the following areas
(a) You must live or have a home, a place of business, or property in the United States.
(b) You must not have filed a Chapter 7 bankruptcy, for which you received a discharge, within the last 8 years, or have filed a discharged Chapter 13 bankruptcy within 6 years. The time is calculated from the date of filing of your prior bankruptcy, not from the date of discharge order.
(c) You must not have had a bankruptcy filing "willfully" dismissed within the last 180 days.
(d) You must pass the means test, which is essentially an evaluation of whether your income is too high, in relation to your household size, for a person to be allowed to not pay any money to their creditors. The general idea is that if you make too much money for your household size, and with consideration for your secured debt payments, then your only bankruptcy alternative is to file under Chapter 13 bankruptcy. In a Chapter 13 bankruptcy, you pay your creditors part of what you owe them. The Chapter 13 thresholds are, approximately; $48,000 for a 1 person household, $65,000 for a 2 person household, $71,000 for 3, and $84,000 for a 4 person household. After a 4 person household, $7,500 per person above the 4 is added to $84,000.
This information pertains to Chapter 13 and Chapter 7 consumer bankruptcy. Each state has bankruptcy laws which apply only in that state. The information contained in the preceding is provided for general information purposes and is not a substitute for a legal consultation and it is not intended as legal advice. Every individual's debt and financial situation is different and you should seek independent legal advice regarding you specific situation.
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