Vance P. Truman, Attorney at Law
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What makes you eligible for Chapter 7 in Ohio?

You can't stand the debt collectors calling you anymore. You're afraid to go to the mailbox for fear of another threatening letter. You just want to make it all go away.

Bankruptcy is your only option, you decide.

Filing for bankruptcy is the right choice for a number of people for a number of reasons. But is it right for you?

There are different types of bankruptcy, but in this instance, let's look at Chapter 7.

Chapter 7 wipes out your dept, but not everyone is eligible for it. And if you are eligible, it might not be your best option.

So, what makes you ineligible for Chapter 7 bankruptcy?

  1. Your income is too high. Add up all of your monthly income for the six months before you plan to apply for bankruptcy, then divide by six to get the average. (Eligible income includes money gained from things such as wages, interest, child support or spousal support, unemployment, pension benefits, disability insurance and workers' compensation.) If your average monthly income is below the Ohio median, then you can file Chapter 7. If it is above it, then you have more to figure out.
  2. You have a certain amount of income left after paying your essential bills, such as rent and food.
  3. You have had debt discharged via Chapter 7 within the past eight years or via Chapter 13 within the past six years.
  4. A court dismissed another bankruptcy case of yours in the past 180 days.
  5. You haven't taken part in credit counseling with an approved agency.
  6. You defrauded creditors, such as by transferring some of your property to others.

There's a lot to consider when it comes to bankruptcy. The debt wasn't created overnight, and it won't go away in a day, either. Therefore, you shouldn't rush important decisions such as bankruptcy. Take the time to discuss your bankruptcy options with a qualified attorney before making any decisions on how to proceed when the bills have got you down.

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Medina, OH 44256

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