Before you file bankruptcy in Pennsylvania, you may want to know if you qualify for a Chapter 7. First, the courts want to be sure you are voluntarily seeking bankruptcy, then they want to see a list of assets and debts along with income. These items can help determine whether or not you qualify for a Chapter 7 or need to consider filing a Chapter 13 bankruptcy.
The Eastern District of Pennsylvania courts wants to see a checklist of items in order to determine if you meet the qualifications for Chapter 7. A means test calculation is necessary to see if you qualify for the debt forgiveness of a Chapter 7. Your income and debts must fall within certain guidelines to qualify.
These documents are necessary for the filing of the petition by your attorney. There is a creditor matrix requirement that makes your basic information follow the court’s guidelines. Filing the bankruptcy petition yourself requires you to thoroughly read through the court requirements and follow their checklist.
Within two weeks, the court requests several additional documents. These documents detail your income, property, expenses, creditors, leases, exempt property and codebtors. They want to see a list of when your debtors need payment.
The court must receive all documentation within 45 days after filing the petition or you risk dismissal the following day. If you are not sure if you qualify for a Chapter 7, an attorney can go over the details before you file your petition. This is general information only and is not intended to provide legal advice.