Eligibility For Chapter 7 Bankruptcy Filing
It is an imperative process to understand at first whether as individuals we can file for Chapter 7 bankruptcy and get our debts discharged or not. The ability to file for bankruptcy under Chapter 7 clauses majorly depend on your household income (drawn monthly at the time of filing). The monthly income includes The average gross income (prior to taxes deduction) that you have drawn in the last six months The gross income of your spouse All contributions to household expenses by other members of the family The monthly income excludes the amount arising out of Unemployment Social [...]