The right people to know when times are tough(403)265-HELP(4357)
Do I Qualify for Bankruptcy?
Download this free worksheet today!
Request a Free Initial Consultation Now
...your information is safe, we take privacy very seriously
Bankruptcy Calculator
Fill out the form below and the Predictor will tell you how long you will be in bankruptcy and the monthly payments required to be made.
(Calculator updated June 13, 2011 for 2011/12.)
RESULTS:
Monthly payments while in bankruptcy: |
$ 0 |
If your monthly payments are calculated to be less than $100.00 per month, and you are a first time bankrupt, you are eligible for a discharge in 9 months. Please note that you are responsible to pay a minimum of $1,800.00 to the trustee over the term of your bankruptcy. Bankruptcy Discharge Rules: - 9 month automatic discharge for 1st. time bankrupts who fulfill all their duties and who do not have excess income. (Required monthly payment of less than $100.00 per month) - 21 months for 1st. time bankrupts who fulfill all their duties. and who have excess income. (Required monthly payment of $100.00 per month or greater) -24 months for 2nd time bankrupts who do not have excess income. (Required monthly payment of less than $100.00 per month) -36 months for 2nd time bankrupts who have excess income. (Required monthly payment of $100.00 per month or greater) -Bankrupts with personal income tax debt of $200,000.00 or more representing 75 percent or more of total unsecured claims, are not eligible for an automatic discharge. They must go to court for an adjudication.
|