Bankruptcy Eligibility in Jonesboro

Understanding Bankruptcy Eligibility Requirements in Arkansas

Are you thinking about filing for bankruptcy but don't know if you are eligible? At DeLoache Law Office in Jonesboro, we can help you get answers fast. We will review your financial situation, answer your questions, and can quickly determine if you meet the eligibility requirement to file for bankruptcy, and you probably do. We can advise you about alternatives to bankruptcy that you may not be aware of, and which could provide a better solution to your financial problems.

Our Jonesboro bankruptcy attorney, Mike DeLoache, has over 24 years of experience dealing exclusively with bankruptcy and credit restoration issues. Our concentration in this area of the law means we are highly skilled of all the different methods by which person solve a dangerous financial situation, end the stress of overwhelming debt and get a fresh start.

Are You Eligible for Bankruptcy? Key Requirements Explained

Filing for bankruptcy requires that you meet the federal requirements for eligibility. If you are filing for either Chapter 7 or Chapter 13, you will need to submit a petition to the court with extensive supporting documentation. You will also need to participate in a U.S. Trustee-approved agency for credit counseling within six months prior to filing your bankruptcy petition, and we can point you in the right direction to get this part of the process completed immediately.

You are required to take the means test. This is a calculation that compares your income to the median income of similarly sized households in our state. You will most likely be eligible to file for Chapter 7 bankruptcy protection if your income is less than the median. Even when your income may initially appear to be above the state's median, you may still qualify after we review your entire financial situation. Chapter 13 bankruptcy may also be a considerable option if your income is higher than the median.

Affordable Legal Support for Bankruptcy in Jonesboro

Filing for bankruptcy can be a frightening situation, and very difficult to accomplish on your own. There is a great deal of documentation that must be submitted. If there are errors or omissions, your petition will be denied. We advise that you don't take any chances, but let us help you with the process as we are very experienced in all of the processes and how to get a petition approved and the bankruptcy moving forward.

If it is determined that bankruptcy is the right debt-relief solution for your financial problems, we will not only prepare and submit the documentation, but we take care of all of the required submissions, hearings, court appearances and meetings with creditors, and if you must appear, we will be there with you to guide you and help you. Find out more by taking advantage of an initial consultation.

We proudly serve the areas of Jonesboro, West Memphis, Paragould, Blytheville and surrounding cities in all bankruptcy matters.