Do you need a minimum income to qualify for a chapter 13 bankruptcy?

Filing for Chapter 13 Bankruptcy has many strict guidelines to follow in order for it to happen. Among those guidelines are that you have to be an individual or joint, husband and wife, entity. You cannot be a part of a company or organization. Another is you must not be occupied by another bankruptcy from your past. You must be able to pay back everything specified on the bankruptcy plan, so you must have enough funds in order to fulfill the needs of the laid out plan. Although there is no specific minimum dollar amount, it is required to be able to fulfill the plan. Other guidelines suggest you must always file your tax returns on time in order to qualify for a Chapter 13 Bankruptcy plan, while also making sure your debts aren't too high to where it is impossible to pay back in full.

Find Accountants in Orange County

R J Channels Inc
129 W Wilson St Ste 200
COSTA MESA, CA 92627
Evelyn R. Feldman, CPA
13191 Wickshire Lane
Tustin, CA 92782
James M McKinney
2404 Via Mariposa West
LAGUNA WOODS, CA 92637
Paul A Shisbey
24192 Mccoy Rd
Lake Forest, CA 92630
Hs Income Tax Services
1048 W. 17th St
Santa Ana, CA 92706
Sackett Financial Group
915 W Imperial Hwy Ste 160
BREA, CA 92821