Chapter 13 bankruptcy is a reorganization plan for individuals. It uses your disposable income over a three to five year period to pay some or all of what you owe to creditors. As you will see below, it’s a complex proceeding and is difficult to complete without the assistance of an attorney. Why file aContinue reading “How Does Chapter 13 Work?”
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How Do I Pass the Chapter 7 Means Test?
What is the means test? First, if you don’t know what I’m talking about, the means test is something devised by an evil demon in an attempt to stop people from “abusing” the bankruptcy process. It became part of the Bankruptcy Code when it was amended in 2005. The idea is to stop people whoContinue reading “How Do I Pass the Chapter 7 Means Test?”
Best Reasons to File Bankruptcy
Bankruptcy gets a bad rap in the press. Always has. Always will. But there are some good reasons to file bankruptcy. Critics would have you believe that people who file bankruptcy intentionally max out their credit cards on luxury items, then file bankruptcy so they don’t have to pay anything back. While that undoubtedly occursContinue reading “Best Reasons to File Bankruptcy”