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Chapter 7 Bankruptcy – Qualifying

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About Ralph A. Ferro Bankruptcy Lawyer

Chapter 7 Bankruptcy – Qualifying

Chapter 7 bankruptcy lawyer
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Written and Verified by Ralph A. Ferro, Jr., Esq.

 Chapter 7 bankruptcy:   do you qualify for bankruptcy?   

 

As your bankruptcy lawyer, I will advise you as to your qualifications.

Below is an interesting example.  You can see how spousal income and expenses affect qualifying for Chapter 7 bankruptcy.  As your bankruptcy lawyer, I carefully review your case details.

In this case, smoking is bad for the debtor’s husband’s health.        Yet, it is beneficial for his wife to qualify for Chapter 7 bankruptcy.   

When a debtor files bankruptcy in New Jersey, household income is considered.  In this particular case, the husband’s smoking habit enables her to file a Chapter 7 bankruptcy.  I  analyze a great deal of information to prepare your bankruptcy petition.    

Background – Analysis for Qualification to file Bankruptcy  Ch. 7 Bankruptcy | NJ Bankruptcy Law Firm

  • Wife Files Bankruptcy
  • Non-filing spouse’s income is considered for household income 
  • Non-filing spouse’s income provided to determine disposable income
  • The expenses of a spouse are also taken into account
  • Non-filing spouse had a $600 per month smoking habit
  • Smoking habit reduced his disposable income
  • His smoking was expensive
  • Smoking was viewed as an addiction/habit, not just casual smoking

Court Ruling

  • The cost of the Husband’s smoking habit is not available to pay the wife’s creditors.
  • If the husband did not have a smoking habit, his wife would not qualify.
  • Wife qualified to file a Chapter 7 Bankruptcy.
  • Her husband did not have enough disposable income to pay her creditors.

Many factors must be evaluated to qualify for Bankruptcy filing, requiring a significant amount of analysis.  

As a bankruptcy lawyer, I thoroughly analyze your household income and expenses to ensure you are qualified when we file. Clients call me and ask me if they qualify. I look at each case to provide a definite response.

Call me today, and I am here to help you. I offer a free consultation to see if you qualify for bankruptcy.  https://njbankruptcylawfirms.com/board-certified-bankruptcy-attorney/