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Know the requirements for a Chapter 7 bankruptcy

The process of filing for bankruptcy is one that's best done with the assistance of an experienced bankruptcy attorney. While it's possible to do it yourself, there's a chance that you'll get something incorrect. This could be devastating to your case.

When you're considering filing for bankruptcy, you have to think about what type you're going to file. One option is a Chapter 7 bankruptcy. Because this option doesn't require you to make payments to the bankruptcy trustee to pay off a portion of your debts, there are strict limits about what income you can have.

You'll have to pass the means test in order to be able to file this type of bankruptcy, but there are other criteria that you should know about. For example, you'll have to go through credit counseling. This must be done 180 days prior to filing, and you have to get a certificate that states that you completed the course.

You also have to complete a debtor education course between the bankruptcy filing and the discharge. Your case can't be discharged without this on file, so it's best to do it quickly once you get your case number. This prevents you from forgetting about it.

It's imperative that you take the time to understand what responsibilities you have in these cases so that you can ensure you meet them. If you don't, your case can't be discharged, which would mean you wasted your time. Taking the time to understand these points before you file can help you to set a plan to move forward.

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