Who qualifies to file Chapter 13 bankruptcy?

Individuals and couples filing taxes jointly may qualify for Chapter 13 bankruptcy, according to the AllLaw website. Businesses are ineligible and can only file for a Chapter 11 option. Nolo says that stockbrokers and commodity brokers are unable to file Chapter 13, even if their debts are considered nonbusiness.

AllLaw also emphasizes that a sufficient and steady income is required so a regular payment plan can be arranged. There is a limit on how much unsecured debt a filer can have, states FindLaw on its website. As of 2015, that amount is $336,900. FindLaw also reports that income tax returns must be current, and a credit counseling requirement must be fulfilled before Chapter 13 can be filed.