What are the requirements for bankruptcy? 4 Answers as of August 20, 2010

I have been in a terrible financial situation for a long time. I have been current with my mortgage but I have a great amount of credit card debt. How do I qualify for bankruptcy? What are the requirements of a bankruptcy?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Klinger Law Center
Klinger Law Center | Linda Klinger
You should consult with an attorney before proceeding, but the basic requirements can be found here:

Chapter 7:


Chapter 13:

Answer Applies to: California
Replied: 8/20/2010
Law Offices of Michael J. Berger
Law Offices of Michael J. Berger | Michael J. Berger
There are 3 types of bankruptcy that are most commonly used by individuals: Chapter 7, Chapter 11, and Chapter 13. Each type has its own requirements. Chapter 7 has a limit on how much income you can make. Chapter 13 has a limit on how much debt you can have. Chapter 7 is the most common type of bankruptcy. To see if you qualify, call me for a free consultation.
Answer Applies to: California
Replied: 8/19/2010
Diefer Law Group, P.C.
Diefer Law Group, P.C. | Abel Fernandez
There are many qualifications that you must meet. You should really seek legal advice.
Answer Applies to: California
Replied: 8/19/2010
Ariano & Reppucci
Ariano & Reppucci | Chris Ariano
Your income will be one of the biggest factors in determining whether you can file under Chapter 7 (liquidation) or Chapter 13 (reorganization), in addition to the type and value of property you possess, and whether you are current on secured debts (e.g. cars or houses you are still paying on). It is best to consult with an attorney, fill out the intakes, and go over which Chapter if any is best for your situation. To discuss further please contact us.
Answer Applies to: Arizona
Replied: 8/19/2010
Click to View More Answers: