Bankruptcy Law | Eligibility

An individual, partnership, corporation, or other business entity are all qualified to file for Chapter 7 bankruptcy regardless of the amount of debt. An individual debtor may only file for a Chapter 7 if they pass the Means Test. 

The Means Test is an income based test meant to keep those who have higher incomes and those who can pay their debts from filing for bankruptcy. If you fail the Means Test, you will not qualify for a Chapter 7 bankruptcy, but you could still file for a Chapter 13 bankruptcy. 

If you are thinking about filing for a Chapter 7 bankruptcy but are unsure of whether you would qualify, the Law Offices of Lucy Zheng can advise you on your bankruptcy filing and help you determine, through the Means Test, whether you are eligible for a Chapter 7 bankruptcy. Contact us today for your FREE initial consultation.