How Old Do I Have to be to File Bankruptcy?

by DeLadurantey Law Office, LLC on May 30, 2014

14683632_sMany people assume you must by 18 years old to file a Chapter 7 or Chapter 13, but there is not a statutory age requirement for being eligible to file a personal bankruptcy case. However, from a practical standpoint, you should not have accumulated significant debt until you are an adult. Creditors, such as credit card companies or mortgage lenders, do not issue credit until you are 18 years of age, so there is usually no point for minors to seek a discharge.

That being said, most of our clients range from 20 to 70 years old. We see every type of financial situation and we can help you obtain the debt relief you need. Regardless of your age and the dollar amount of your debt, filing bankruptcy can provide you a fresh financial start.

It is important to note that while there is no specific age requirement for a bankruptcy filing, 28 USC 1408(1) specifies where a bankruptcy case may be filed. It is typically obvious where an individual should file because most cases are filed where the person has lived for more than the last six months prior to the date of filing.  The statute provides for filing in the district

in which the domicile, residence, principal place of business in the United States, or principal assets in the United States, of the person or entity that is the subject of the case have been located for the one hundred eighty days immediately preceding such commencement, or for a longer portion of such one-hundred-and-eighty-day period than  in any other district.

Before you file a Chapter 7 or Chapter 13, you should retain an experienced bankruptcy attorney to assist you. At DeLadurantey Law Office, we handle bankruptcy filings on a day to day basis. We can review your budget and help determine what type of filing will benefit you the most.

If you are considering filing for bankruptcy protection or you need assistance with your student loans, call DeLadurantey Law Office, LLC, at (414) 377-0518. We believe that each client should receive the individual attention necessary to reach their financial goals. Recognizing the needs of working clients, we maintain a flexible schedule and offer evening appointments. Initial consultations are always free, and phone inquiries are always welcomed. Find us on the Internet and on Facebook.


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