Legal Question in Bankruptcy in Michigan
Chapter 7 Bankruptcy
I make $64,000.00 a year and I pay $525.00 a week in Alimony (Spousal Support). Do I make too much money to qualify for a Chapter 7 Bankruptcy?
Asked on 2/19/07, 11:25 am
2 Answers from Attorneys
Matthew Frank
Frank & Frank, P.C.
Re: Chapter 7 Bankruptcy
not necessarily, a thorough analysis of all your assets and liabilities is also required to determine whether you would qualify for a chapter 7.
Answered on 2/19/07, 11:30 am
Rochelle Guznack
Law Offices of Rochelle E. Guznack, PLLC
Re: Chapter 7 Bankruptcy
There are many other factors to consider. Right off the bat, if you are single and living alone, you probably will be over median income which will prevent you from filing under Chapter 7. However, a Chapter 13 might be a good option.
Please feel free to call me for a free consultation at 248.679.1552.
Rochelle Guznack
Answered on 2/19/07, 1:21 pm
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