Qualification overview
Debtors seeking relief under Chapter 7 must satisfy specific criteria detailed herein. Review thoroughly before proceeding.
Income requirements
Simply put, you need to be making less than what most Florida households your size make. Right now that’s about $60,000 for one person. Got more people in your house? The amount goes up.
But here’s the thing – even if you make more, you might still qualify. The court looks at what money you have left after paying your basic bills. If there’s not much left over, you could still get approved.
Property and assets
Florida’s pretty generous about what you can keep. Your house? Usually protected. The basic stuff you need to live? Also typically safe. The court mainly cares about fancy things you could sell to pay your debts.
Mandatory steps
You’ll need to take a class about managing money before filing. The court wants to make sure you understand all your options. Sounds boring, but it’s required.
IMPORTANT DISCLAIMER: The above information reflects current standards but may be subject to change. Debtors are strongly encouraged to seek qualified legal counsel before filing.
If you’re not sure where you stand, talk to a bankruptcy lawyer. Most give free consultations and can tell you pretty quickly if Chapter 7 makes sense for you.
