Pursuing Debt Relief Through Chapter 7 Bankruptcy In Elmore County
Are you feeling overwhelmed by debt and considering bankruptcy as an option? At the Law Office of Jeffrey J. Courtney, LLC, in Wetumpka, our Chapter 7 bankruptcy lawyers are committed to helping clients find relief from their financial burdens. Our dedicated debt relief attorneys can provide the support and guidance you need to regain control of your financial future.
We are passionate about guiding clients through the complexities of debt relief, and our experienced Chapter 7 bankruptcy attorneys can assist you with Chapter 7 bankruptcy filings.
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy offers a fresh start by eliminating unsecured debts such as credit card balances and medical bills. Filing for Chapter 7 can provide relief from creditor harassment and stop wage garnishments. This process involves liquidating certain assets to repay creditors, but many personal assets are often protected. A Chapter 7 bankruptcy lawyer can help you understand more about whether you might be eligible to file for Chapter 7 bankruptcy.
When Is Someone Eligible For Chapter 7 Bankruptcy?
To qualify for Chapter 7 bankruptcy, you must pass the means test, which evaluates your income against the median income in your state. If your income is below the median, you may be eligible to file for Chapter 7 bankruptcy. Additionally, you must complete credit counseling from an approved agency within 180 days before filing. A Chapter 7 bankruptcy lawyer can help you assess your financial situation and guide you through each step to ensure you meet the necessary requirements. An experienced bankruptcy lawyer can also discuss filing for Chapter 13 bankruptcy to see if that is a better option.
What Is The Income Limit For A Chapter 7 Bankruptcy Filing In Alabama?
In Alabama, the income limit for Chapter 7 bankruptcy is determined by the means test, which compares your average monthly income over the past six months to the median income for a household of your size in the state.
For example, if you’re a single filer, your income must generally fall below the median income for a single-person household in Alabama. The median income figures are updated periodically, so it’s essential to check the current limits. An experienced Chapter 7 bankruptcy lawyer can help you better understand how to evaluate your income as compared to the median income.
If your income exceeds the median, you might still qualify after deducting certain expenses to determine your disposable income. Our debt relief attorneys can help you with these calculations to see if you meet the criteria.
Consult A Chapter 7 Bankruptcy Lawyer
If you are searching for debt relief and considering a Chapter 7 bankruptcy as an option, a bankruptcy attorney can answer your questions and speak with you about possible next steps.
Our debt relief attorneys are available for initial consultation appointments. You can schedule a consultation by calling us at 334-521-1454 or by sending us a message through our website. We are here to provide the support and guidance you need to overcome your financial challenges and find financial freedom.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.