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Am I eligible for Chapter 7 bankruptcy?

Your Chapter 7 eligibility depends on many things, including the median income in Ohio. While the process might not seem entirely straightforward to you at first, it is relatively simple once you look into the details. In fact, recent bankruptcy reforms have made it possible to provide much more accurate predictions as whether you do or do not qualify for Chapter 7.

The first thing you should probably do is determine whether you want to file under Chapter 7. This type of bankruptcy involves liquidation of your assets, potentially even including your home. Other sections of the bankruptcy code might be more appropriate if you would rather pay back your debts over time.

The next step in determining your Chapter 7 eligibility is assessing your income. FindLaw lists several income sources that the court considers during bankruptcy proceedings:

  • Retirement accounts
  • Royalties or income from investments
  • Alimony
  • Payment from your employer
  • Disability insurance

If your income turns out to be less than the median income in Ohio, then you would probably qualify for Chapter 7. If your income turned out to be above the median, then the court would assess whether or not you are able to pay back some of the debts. To do this, you would submit your expenses so the court could consider them in relation to your income.

It also bears mentioning that previous bankruptcies or recently dismissed applications might disqualify you from taking advantage of the Chapter 7 debt relief process. You must also typically participate in credit counseling courses, and must not have defrauded any of the people to whom you owe money. This is intended only to educate you about the topic: Please do not take this as legal advice.


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