Will I have to file Chapter 13 bankruptcy? 2 Answers as of September 20, 2010

I wanted to qualify for Chapter 7 but was on the borderline and did not qualify. Does this mean that Chapter 13 is my next best option or are there other alternatives?

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Greifendorff Law Offices, PC
Greifendorff Law Offices, PC | Christine Wilton
If you contacted a bankruptcy attorney and had your income and expenses analyzed under the secondary level of means testing and did not qualify, then the only other bankruptcy option for an individual consumer is chapter 13. You have bankruptcy alternatives and that is debt settlement. I hope this addresses your concern.
Answer Applies to: California
Replied: 9/20/2010
The Law Office of Mark J. Markus
The Law Office of Mark J. Markus | Mark Markus
Assuming you are within the statutory debt limits, Ch. 13 would be your next best bankruptcy options. Chapter 13 limits are $360,475 in unsecured debt and $1,081,400 in secured debt (excluding debts which are contingent or unliquidated). Other alternatives are negotiating with your creditors, etc.
Answer Applies to: California
Replied: 9/17/2010
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