Bankruptcy

Who Can File for Bankruptcy?

By Cara O'Neill, Attorney
Bankruptcy is open to all kinds of people and businesses.

Almost any person or business can file for bankruptcy.

An eligible bankruptcy filer must have a permanent residence (domicile), own property, or have a place of business located in the United States. The filer must also complete a financial counseling course (although some filers are exempt from this requirement). U.S. citizenship and insolvency are not prerequisites of a bankruptcy filing.

It’s important to recognize that being eligible to file for bankruptcy does not automatically mean that the filer can proceed under a particular bankruptcy chapter, or will qualify to receive a discharge (the right to have certain debts wiped out). These issues require separate analysis. If you’re unclear whether you’re qualified to file for bankruptcy, you should consult with an attorney.

Go to the main bankruptcy FAQ page.

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