Chapter 7 Ineligibility
Aurora Illinois Bankruptcy Lawyers & Attorneys
Jesse Barrientes: Okay. Let me ask you a couple of questions. We talked pretty much about Chapter 7 with an Aurora bankruptcy lawyer, but I have some ideas, same kind of scenario, but different chapter bankruptcy. You mentioned before in a Chapter 7 with the house, it can't have too much equity, and if there's money that I have owing and I want to keep the house, I'm going to have to pay that back, and I'm going to have to do all those other different kinds of things. If I don't have a balance between my allowable expenses and my income – that is to say if I have a balance left, then I'm not going to be able to do a Chapter 7, or if I make over a certain amount that they allow, I presume that I have to pay my creditors back, which would mean I couldn't do a Chapter 7 anyway, right?
David Siegel: Right.
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See Also:
Chapter 7
Misconceptions about Chapter 7
Life after Chapter 7 bankruptcy
Privacy is protected in bankruptcy
Household income qualifications
Converting Chapter 13 to Chapter 7
Converting Chapter 7 to Chapter 13
Chapter 13
Using Chapter 13 to save a home
Choosing Chapter 13 versus Chapter 7
Debt consolidation & late fees
Administrative fees & the bankruptcy trustee
Chapter 13 payment plan dismissal
