Do You Qualify
The most central question is can you file for bankruptcy? If you call me today I will be happy to run the numbers with you over the phone to help you determine whether you qualify for bankruptcy. I will provide a brief outline below of how I determine if you qualify.
The first step in finding out whether you qualify for bankruptcy is defining your household. Are you married, singled, do you have children, etc. Then, I will ask you to provide me your average monthly income over the last 6 months. Depending upon your household size and your average monthly income over the last 6 months, I can determine whether you qualify for bankruptcy. I take your average monthly income for the past 6 months and I project it out as it would look like as your gross annual income. If that number is equal to or less than New York’s average given your household size then you qualify for bankruptcy.
If you are unmarried then your projected income must be $46,532 or less. If you are married, your joint projected income must be $57,006 or less. If you are married and have 1 child your projected income must be $67,991 or less. If you are married and have 2 children, then your projected income must be $83,036 or less. If you are married and have 3 children, then your projected yearly income based on your last 6 months must be $89,936 or less.
If for whatever reason your projected annual income is above that number, then you may very well still qualify for bankruptcy but a more thorough analysis is required looking not only at your income but your expenses.
Whether it be the basic analysis to see if you qualify for bankruptcy or the more thorough analysis, I routinely do this on my FREE over-the-phone consultations. Give me a call now and I will be happy to assist you in figuring out whether you qualify for bankruptcy.