Chapter 7

Information on Household Income:

While creditors were able to pass legislation that creates additional requirements for a bankruptcy discharge, most people still qualify for Chapter 7 bankruptcy, which means complete relief of all of your dischargeable debt. The first test is whether or not you and/or your family are above the median income based on the last six(6) months of gross income. The median income for Ohio residents is as follows:

1$ 41,873$3489
2$ 52,216$4351
3$ 61,772$5148
4$ 73,301$6108
5$ 80,201$6683
6$ 87,101$7258
7$ 94,001$7833
Additional$   6,900$ 575

If your income or your household income is below these numbers, then you may qualify for Chapter 7 bankruptcy and the new Means Test does not apply. Even if you or your household income is above the above income figures, you may still qualify for Chapter 7 bankruptcy if you pass the new Means Test. 


At our office, we understand the requirements of the means test and will walk you through the process to determine your eligibility. If you qualify, we will prepare and file all the documents necessary to help you permanently discharge certain debts, and will represent you in meetings and hearings during the process. As soon as you file you will receive an automatic stay, which means that an order is issued by the court to all your creditors which automatically stops, immediately, all lawsuits, foreclosures, repossessions, wage garnishments, and collection activity against you. We will carefully explain which debts can and cannot be discharged through bankruptcy, as well as which assets you can keep, so you get the benefits you need and expect. 
When you hire us to help you with a bankruptcy filing, we will give you an honest assessment of your situation, including whether bankruptcy is the best option for you. We will keep you fully informed of all developments, as well as the different paths you can take and your likelihood of meeting your goals. 
A personal bankruptcy filing can be far more complex than you expect. If you miss a deadline or file the wrong document, you can lose a lot of protections to which you are entitled. Below is a list of the “schedules” the bankruptcy court requires to have completed before you can file bankruptcy: 
Summary of SchedulesStatistical Summary of Certain Liabilities and Related Data (28 U.S.C. § 159)Schedule A – Real PropertySchedule B – Personal PropertySchedule C – Property Claimed as ExemptSchedule D – Creditors Holding Secured ClaimsSchedule E – Creditors Holding Unsecured Priority ClaimsSchedule F – Creditors Holding Unsecured ClaimsSchedule G – Executory Contracts and Unexpired LeasesSchedule H – CodebtorsSchedule I – Current Income of Individual Debtor(s)Schedule J – Current Expenditures of Individual Debtors(s)Unsworn Declaration Under Penalty of Perjury 
If these are not filled out correctly, the court can repeatedly send them back or throw out your bankruptcy petition. You need an attorney who can make sure it is done correctly the first time. Our goal at Derryberry Law Firm is to guide you through the process of bankruptcy and make it as easy on you and your family as possible. We want you to have the fresh start you deserve.

Call us or email us with your questions. We are here to help.