Cleveland Chapter 7 Bankruptcy Attorney

Comprehensive Chapter 7 Bankruptcy Support in Ohio

As one of Northern Ohio's largest consumer bankruptcy law firms, we are proud to focus solely on bankruptcy law and on helping our clients find relief from daunting debt. If you or if someone you know is facing a devastating financial crisis, there may be hope through filing a chapter 7 bankruptcy.

Contact us online or call (216) 450-6689 to schedule a free initial consultation at Knevel Law Co. LPA. Our Cleveland Chapter 7 lawyers can determine if this option is right for you. Reach out today.

The Advantages of Chapter 7 Bankruptcy

If you are considering bankruptcy, filing for Chapter 7 has many advantages. Keep in mind that, this option is not for everyone -- there are certain qualifications which we explain in detail further below.

Reasons to file for Chapter 7:

• There are no limitations to how much debt you have
• There is no debt repayment plan
• Your debt may be discharged within 60 to 90 days after you file
• You will keep your future income after filing
• You receive a "fresh start" and your debts will be eliminated. Keep in mind that certain types of debt cannot be discharged such as student loans, child support, alimony, etc.

Eligibility Criteria for Chapter 7 Bankruptcy

Not everyone will qualify for Chapter 7 bankruptcy and you will need to take the “Means Test” to determine whether you qualify. You may be excluded from having to take it if your income is far below the median for your family’s size.

Additional qualifications for Chapter 7 are:

• Completion of a credit counseling course approved by the U.S. Trustee Program within 180 days of filing.
• No prior bankruptcy case was dismissed in the last 180 days.
• No debt discharged from a previous filing.
  • Chapter 7 within the last 8 years
  • Chapter 13 within the last 6 years
• The bankruptcy court does not suspect you of creditor fraud.

What is the Means Test?

The "means test" for Chapter 7 is meant to determine if you have enough disposable income for repaying your debts.

Key Factors in the Means Test

The following are all taken into account when determining your disposable income:

• Income
• Essential expenses
• The size of your family

In addition, any recent or upcoming changes that will affect your income are considered.

Strategies for Passing the Means Test

If your household income falls under the state median income, you qualify for Chapter 7. To prove your disposable income, you will need to provide documentation regarding your income from the past six months.

Once it is determined that the individual qualifies, they can have all debts discharged once the liquidation process is finalized. This will allow a “fresh start” for debtors who need one. If Chapter 7 is not right for you, we can help you discover the best fit for your financial situation, including pursuing a Chapter 13 bankruptcy.

Call (216) 450-6689 to request a free initial consultation with a skilled Chapter 7 attorney in Cleveland.