Thomas F. Miles, Attorney and Counselor at Law
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Who should consider Chapter 13 bankruptcy?

If you are in debt, it is important to weigh all your possible options before making a decision on how to best tackle your plight. For some people, even the word bankruptcy can sound scary and intimidating. But the reality is that bankruptcy is designed to help people get out of debt so that over time they will have a fresh start. One possible consideration is Chapter 13 bankruptcy, though it is important to understand that one must qualify and meet certain conditions to be eligible. Over the next two weeks we will discuss all the necessary requirements one needs to qualify for Chapter 13 bankruptcy.

Chapter 13 is not for businesses. A husband and wife may file as well as a sole proprietor who files debts in their name, but corporations, limited liability companies, also known as LLCs, and commodity brokers and stockbrokers are all ineligible.

One must also meet certain history provisions. They cannot have had a discharged Chapter 13 debt over the previous two years or Chapter 7 over the last four years. In addition, one cannot have had a previous Chapter 7 or Chapter 13 petition dismissed over the previous 180 days if it was due to either a violated court order or failure to appear in court, or a court dismissal due to a creditor asking the courts to lift an automatic stay.

As you can see, there are a lot of criteria that need to be met in order to qualify for Chapter 13 bankruptcy, and we are only half way through the list. Look for our blog post next week to discuss more of the qualifications necessary to successfully file.

Source:, "Who can file for Chapter 13 bankruptcy?" Accessed May 30, 2017

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Thomas F. Miles, Attorney and Counselor at Law
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