Chapter 13 vs chapter7

No one can really give you good advise without knowing in detail your finances. Gather together all your bills, your income for the last 6 months and your monthly expenses. Your bankruptcy attorney will need to see these.
Having said that if you are single, you likely make too much money to file a chapter 7. However, you MAY still qualify under the Means Test. That is something you should discuss with a bankruptcy attorney in your area. Many of them offer a free consultation to see if you will qualify.

According to the bankruptcy code, corporations and partnerships may not file a chapter 13 bankruptcy.


Only individuals, even if self-employed or operating an unincorporated business are eligible for chapter 13 relief as long as the individual's unsecured debts are less than $336,900 and secured debts are less than $1,010,650. 11 U.S.C. § 109(e). These amounts are adjusted periodically to reflect changes in the consumer price index. A corporation or partnership may not be a chapter 13 debtor. 11 U.S.C. § 109(e)


Bankruptcy Code

§ 109. Who may be a debtor

(e) Only an individual with regular income that owes, on the date of the filing of the petition, noncontingent, liquidated, unsecured debts of less than $250,000 and noncontingent, liquidated, secured debts of less than $750,000, or an individual with regular income and such individual’s spouse, except a stockbroker or a commodity broker, that owe, on the date of the filing of the petition, noncontingent, liquidated, unsecured debts that aggregate less than $250,000 and noncontingent, liquidated, secured debts of less than $750,000 may be a debtor under chapter 13 of this title.

Take care and good luck.

Stephen M. Dunne, Esq.

Dunne Law Offices, P.C.
(215) 854-6342
1500 JFK Blvd, Two Penn Center, Suite 200
Philadelphia, PA 19102
dunnelawoffices@gmail.com
www.dunnelawoffices.com