Defining who can file bankruptcy is the game of the U.S. Court system. There are stipulations on who can file. Individuals will need to disclose their current monthly income when filling out a means test. This test is to determine if they have means to repay their debt, even partially through reorganization. In addition, those who can repay debts of a five-year repayment period are unlikely to succeed at filing bankruptcy. You may also only file bankruptcy if you have not done so in the last six years. It must be evident that your creditors have not been defrauded. Businesses and personal citizens can file for bankruptcy if they meet these requirements. It is important to note that assets should be lower than liabilities to qualify for filing bankruptcy.