Do I Qualify?

Baltimore Bankruptcy Attorney

If you are considering filing for bankruptcy in the Baltimore area, you are probably wondering if you qualify. To find out if you are eligible for a simple Chapter 7 bankruptcy filing, you will be subject to "means testing." Means testing is a method of determining your eligibility based on annual income. By consulting with the Baltimore bankruptcy lawyer at the firm, you can find out if your income is greater or lesser than Maryland's median income. To qualify, your income must fall below the median (which is determined by the U.S. Census Bureau) for the 6 months previous to your filling.

To determine your eligibility in any type of bankruptcy, it is important to consult with a qualified legal professional. The Baltimore bankruptcy attorney at the firm has been practicing law since 1988 and has focused her career on bankruptcy cases. Because of her extensive experience and knowledge in this area, she can guide you in making an informed decision about the legal options that are best suited for your needs and your eligibility in pursuing them. The firm serves clients throughout the greater Baltimore area, Baltimore County, and Montgomery County.

In order to file for a Chapter 7 bankruptcy, you will be required to submit a Statement of Current Monthly Income and Means Tests Calculation which will show whether or not you are able to make monthly payments to creditors in an amount which would disqualify you. If you do not qualify for a Chapter 7 filing, your case will be dismissed or may be converted to a Chapter 13 filing. In some cases, special circumstances, such as a serious medical condition, may help you qualify for a Chapter 7 filing for which you seem ineligible.

A Chapter 13 filing must satisfy 3 criteria in order to be confirmed by the courts. Your Chapter 13 repayment plan must be submitted in good faith, must pay creditors as much as they would receive in a Chapter 7 filing, and disposable income must be put into the repayment plan for 3 to 5 years.

To find out if you qualify for bankruptcy, contact the Baltimore Bankruptcy Lawyer at the firm today!