What are the eligibility requirements for filing bankruptcy?

The eligibility requirements for filing bankruptcy may vary depending on the type of bankruptcy you wish to file. Generally, individuals who want to file for bankruptcy must meet certain criteria. For Chapter 7 bankruptcy, you must pass the means test, which determines if your income falls below a certain threshold. Additionally, you cannot have received a Chapter 7 discharge within the past eight years or a Chapter 13 discharge within the past six years. For Chapter 13 bankruptcy, there is no means test, but you must have a reliable source of income to create a repayment plan. You must also have unsecured debts below a specific amount and secured debts below a certain limit. Consulting with a bankruptcy attorney can provide personalized guidance based on your specific financial situation.