Video: How do I qualify for bankruptcy?
The typical person that needs to file bankruptcy is someone who's having trouble paying their debts as they come due. Most persons would prefer filing what's called a chapter seven bankruptcy, which is where you're basically keeping all of your assets and you're trying not to pay any of your creditors through a bankruptcy. In order to qualify for a chapter seven, however, you have to go through what's called a means test or a median income test, which are two separate tests. If you pass one of them, then you can file a chapter seven bankruptcy.