Do I Qualify for Chapter 7?

In 2005, the bankruptcy rules changed making it more difficult to for people to become eligible to file for Chapter 7. One key ingredient in determining what someone’s options are is to determine whether they are above or below the median income. If a person or family is below the median income, they most likely qualify. If not, eligibility depends on monthly expenses and determining eligibility requires closer examination.

On November 1, 2010, a new set of median income figures were released for North Carolina. Click on the U.S. Trustee’s Office chart to see the median income figures.

If you have any questions, do not hesitate to contact me for help.