You must also examine your liabilities to determine which can be discharged and which must be paid. In determining whether you are eligible for chapter 7 bankruptcy, the court will also consider your financial history and any previous bankruptcy filings. There are multiple stages in the process, and failure to complete an essential task in any phase may result in the dismissal of your petition, so you may need to retain a qualified bankruptcy attorney.
Even if you feel comfortable filing for bankruptcy on your own and do not wish to pay the attorney's fees for his advice, it is advisable to speak with an attorney directly about chapter 7 bankruptcy laws. An attorney can help you satisfy pre-requisites for filing for bankruptcy under chapter 7 that you may not be aware of, such as completing a credit counseling course within 180 days prior to filing. Your attorney may administer a means test to determine whether you qualify for chapter 7 bankruptcy. In addition, he may explain how long credit bureaus maintain records of bankruptcies in your credit report and evaluate your financial situation based on the information you provide.
You may also learn about the provisions of chapter 7 bankruptcy laws that disqualify you, such as dismissal of a chapter 7 petition within the previous 180 days and discharge under chapter 7 or chapter 13 within the previous eight or six years. If he believes it is not absolutely necessary for you to file for chapter 7 bankruptcy, your attorney may counsel you to reconsider your decision.
If you need the swift debt relief that chapter 7 bankruptcy laws can provide, as well as the benefits of the automatic stay applicable after filing, you may want to choose this option and start your life over. However, before you do so, you must ensure that your facts are accurate.""
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