Chapter 7 is a type of consumer bankruptcy named for its location in the federal Bankruptcy Code. It is a faster process than Chapter 13, the other common type of consumer bankruptcy.
Qualifying For Chapter 7
Only certain people can qualify to file Chapter 7 bankruptcy. Generally, you must meet a legal “means test” by demonstrating that your income and assets are below a certain ceiling. This determination can be complex. For that reason, it is important to speak with an attorney about your bankruptcy options and whether Chapter 7 is the right approach.
Your Success Is Our Priority
In Missouri and Kansas, you will find experienced guidance at the bankruptcy firm of Patton Knipp & Dean. We represent consumers like you who are facing financial struggles. Often, an unexpected life event — such as divorce, a serious medical condition or loss of a job — leads to debt that soon spirals out of control. Our goal is to get you back on the right track toward a more solid financial future.