Q: Can I apply for bankruptcy
Filing a Bankruptcy involves a weighing of several items, personal and legal. If you have no personal issues, then the major obstacle is the Means Test. This test is broken into several parts and looks at an average of what you have earned over the last six months, then compares it to others in your area. You only have to pass one part. If your average is above this then certain standardized and variable approved expenses are deducted.
Just because you qualify to file a Bankruptcy, does not mean you should. Every case is different and sometime you could be required to surrender property or pay to keep things that you may feel you should be entitled to. Most attorneys offer a Free Initial Consultation, during which they should address this.
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