Chapter 13 Bankruptcy: How It Works, Who Qualifies, and What to Expect What Is Chapter 13 Bankruptcy? Chapter 13 is a reorganization bankruptcy for individuals. Instead of wiping out your debts immediately, it creates a structured repayment plan that uses your disposable income over three to five years to pay some or all of whatContinue reading “How Does Chapter 13 Work?”
Category Archives: Chapter 7
How Do I Pass the Chapter 7 Means Test?
The Bankruptcy Means Test: A Plain-English Guide What Is the Means Test? The means test is a financial eligibility screen added to the Bankruptcy Code in 2005. Its purpose: make sure people who can afford to repay at least some of their debts don’t get a free pass in Chapter 7. Here’s the bottom line:Continue reading “How Do I Pass the Chapter 7 Means Test?”