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Am I eligible for a chapter 7 or 13?

Miami, FL |

I am a 27 year old making only $38k a year. I am currently working on getting a loan mod for my apt that i own in which my monthly payments is about 1000 plus association of 280. My other monthly expenses include a car payment of 280, credit card min. payments of about $335. i also pay water, cable, and other misc expenses. I have a total of about $13,000 in credit card debt and about $12,000 in student loan debt.
Am i a good candidate for Chapter 7 or 13?

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Attorney answers 2


We need to know if you have any equity in the apartment and if you have any other assets with equity. Assuming that you have little or no equity in the apartment, and assuming your car is not worth much more than you own on it, and assuming that you have no other significant assets, then based on what you are saying I think you are eligible for a chapter 7. But, that is a lot of assumptions and I am only guessing that perhaps you do have assets and perhaps a 13 might be more in order.

Do yourself a favor and retain an experienced Miami are bankruptcy attorney to guide you through the law and procedure of bankruptcy.

Good luck with it.

This answer is provided for informational purposes only. Actual legal advice can only be provided in an office consultation by an attorney licensed in your jurisdiction, with experience in the area of law in which your concern lies.


There are several factors that have to be looked at prior to determining whether you are eligible for a Chapter 7, although a precursory review of your question makes it seem like you would likely qualify. It seems you're interested in keeping your apartment and car; if so it is important to know the amount you owe on those items and how much they are worth (to determine if there is any equity). Some of your debts are dischargeable, although the student loan debt is most likely not.

This answer is provided for informational purposes only and does not create an attorney-client relationship. A more detailed explanation can be provided if you contact our offices directly.
Our firm specializes in Foreclosure Defense and Bankruptcy Law. Please visit our website for more information ( We have offices in Miami, Homestead, and Orlando and we represent clients across the State of Florida.

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