Eligibility for Chapter 13 Bankruptcy in Maryland and Washington DC

Information Provided by a Maryland and Washington DC Bankruptcy Attorney

Before filing for Chapter 13 bankruptcy, it is important to ensure that you comply with all eligibility requirements and have explored all other alternatives. It is especially important that you retain a Maryland and Washington DC Chapter 13 attorney to assist you with the process, to ensure that you make the decision that is best for your circumstances.

Generally, an individual may file for Chapter 13 bankruptcy if his unsecured debts are less than $336,900 and his secured debts are less than $1,010,650. Chapter 13 is often a good choice if an individual has a stable income and believes that his financial crisis is temporary. Sole proprietorships and other unincorporated business entities are also eligible to file for Chapter 13 bankruptcy if they meet the debt requirements. Corporations, partnerships, and unincorporated businesses with large amounts of debt are not eligible for Chapter 13 bankruptcy, but may instead, file under Chapter 11 of the Bankruptcy Code.

An individual is not eligible to file under Chapter 13 if a prior bankruptcy petition was dismissed within the past 180 days due to the debtor’s failure to appear before the court, or comply with court orders. Additionally, one must engage in credit counseling with an approved credit counseling agency within 180 days prior to filing for Chapter 13 bankruptcy and, if a debt management plan was developed pursuant to credit counseling, that plan must be filed with the court when filing the petition for bankruptcy.

If you are contemplating declaring Chapter 13 bankruptcy, you should first consult with a Maryland and Washington DC Chapter 13 attorney. Kevin D. Judd is a qualified Maryland and Washington DC attorney who has experience assisting clients with both Chapter 7 bankruptcy and Chapter 13 bankruptcy cases. Contact Washington DC and Maryland bankruptcy lawyer Kevin D. Judd today for assistance with your bankruptcy case.

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