 TITLE: What Are the Requirements for Bankruptcy? CONTENT: Who Qualifies for Chapter 7 Bankruptcy?\n---------------------------------------\nChapter 7 bankruptcy, also called straight or liquidation bankruptcy, can wipe out many types of unsecured debt. Not just anyone can file for Chapter 7 bankruptcy, though. Here are some of the requirements to pursue Chapter 7 bankruptcy.\n*   The average of your monthly income in the previous six months must be lower than the median income for the same-sized household in your state; otherwise, you must pass what's known as a means test. This test determines whether your disposable income is high enough to make partial payments to unsecured creditors. If you fail the means test, don't despair: You still might qualify for Chapter 13 bankruptcy.\n*   You can't have filed for Chapter 7 bankruptcy in the previous eight years.\n*   You can't have filed for Chapter 13 bankruptcy in the previous six years.\n*   If you attempted to file for Chapter 7 or 13 bankruptcy but your case was tossed out, you must wait 181 days or more before refiling.\n*   You typically must finish an individual or group credit counseling course offered by an approved credit counseling agency within 180 days before you file for bankruptcy.\n*   Even if you're eligible to file for bankruptcy, a judge could throw out your case if it's found you're attempting to defraud creditors. An example: You run up charges on a credit card with the goal in mind of declaring bankruptcy to steer clear of paying the debt. END