Am I Eligible To File Chapter 7 And Keep My Property?


Chapter 7 bankruptcy allows for you to discharge unsecured debt such as credit cards, personal loans and medical bills. In the majority of Chapter 7 bankruptcy cases, the debtor's assets, including your house and car, are exempt from liquidation. However, it is important to have on your side legal representation who understands the exemptions available to provide the maximum amount of asset protection for you.

The Chapter 7 Bankruptcy Means Test

The Chapter 7 bankruptcy means test is a calculation of your gross household income for the six-month period prior to the month that you file bankruptcy. If your income is below the threshold for your household size, you pass the means test and may be eligible for Chapter 7 bankruptcy. Even if you do not meet this initial threshold, after further analysis by an experienced bankruptcy attorney, you may still qualify for Chapter 7 bankruptcy protection.

I am Jason Karavias, Esq., an experienced Pennsylvania bankruptcy lawyer, and I can provide you an assessment regarding your eligibility to file Chapter 7 bankruptcy, and whether this would be the best legal option for you.

What Property Exemptions Exist?

When filing for Chapter 7 bankruptcy, you can exempt property up to certain limits, which are sufficient in most cases to protect all of the assets of a debtor. Most common assets which may be protected by applicable exemptions include:

  • Equity in your home
  • Motor vehicles
  • Retirement plans
  • Household goods and furnishings, electronics and other personal items

Chapter 7 bankruptcy can prove to be remarkably beneficial for you. But in order to receive the full benefit of Chapter 7, it is extremely helpful to have an experienced bankruptcy attorney on your side to provide representation and guidance.

As part of our initial consultation, I will review your finances and assets to determine your bankruptcy eligibility and whether specific property exemptions will apply for you.

Contact My Office For A Free Initial Consultation

When considering filing for bankruptcy, it is always best to receive the advice of a knowledgeable bankruptcy attorney. I have been serving clients in this capacity for over a decade. Contact Jason Karavias, Esq., Attorney at Law, in Pittsburgh by calling 412-223-7924.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.