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Tag Archives: Bankruptcy Option Review – Is Bankruptcy an Option for You?

Written by Tim Peak on February 25, 2011.

Each of these options is appropriate for different circumstances. Filing for bankruptcy does not mean that all of your debt is automatically wiped out. Sometimes, it is a restructuring of your debt, so you have a chance to repay it.

The median income for your state for different household sizes

Did you know that the median single earner income varies between about $32,000 and about $58,000 depending on which state you live in? Whether you qualify for filing for Chapter 7 depends on how your income compares to the median income in the state you live in.

Alternatives to bankruptcy

These should be looked at before you decide to file for bankruptcy.

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