Q: I owe 6 finance companys and 3 other on line accounts like ginnys,seventh ave,home at 5 do i qualify for bankruptcy
A: The issue of "qualification" for bankruptcy is complex. As an individual, you qualify to be a debtor (see section 109 of the bankruptcy code) but the issue of whether you should file bankruptcy requires an investigator by a competent bankruptcy lawyer as to the status of your assets, liability, income and expenses. For example, you might not qualify for a Chapter 7 bankruptcy (liquidation) if your debts are not primarily business debts and you make more money than the "means test" allows. The means test is the test to determine if you qualify for a Chapter 7 or a Chapter 13. The means Test is a function of the total household income and expenses, and not just the individual debtors income and expenses. The foregoing is only part of the complexity in answering your question but I recommend a conference with a competent bankruptcy lawyer to solve your problems.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
