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Who May File Chapter 7 Bankruptcy?

Bankruptcy chapter 7 file
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Posted

Who May File Chapter 7 Bankruptcy?

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Regine Kelly

People or firms can file bankruptcy if they have financial crisis.

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Under the new laws for bankruptcy, a person may file Chapter 7 if he or she falls under the median income level for the state lived in. If income is above median, he or she will have to pass a means test. If a discharge has been given for Chapter 7 within the last eight years it will not be granted again.

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