From the bankruptcy Tag

What Does the “Means Test” Mean?

The Bankruptcy Code was amended in 2005, implementing numerous changes. One of the additions was the “means test,” which an individual must pass in order to qualify for a Chapter 7 filing. The means […]

Can I Eliminate a Mortgage in Bankruptcy?

If you are struggling to pay your mortgage loans, it may be time to consider filing for bankruptcy protection. One benefit of filing a Chapter 13 bankruptcy is a process known as “lien-stripping.” If […]

Social Media + Your Bankruptcy = Trouble

If you are like millions of Americans across the country, social media is a part of your daily life. Whether it is FaceBook, Instagram, Twitter or one of the many other social networking websites, […]

Discharging Debts in Bankruptcy

One of the main benefits of filing a personal bankruptcy case is to obtain a discharge (cancellation) of your debts. Whether you file a Chapter 7 or Chapter 13, when the court enters your […]

Is Bankruptcy Right for YOU?

Most people are aware that bankruptcy can provide debt relief, but many don’t think it is the right time for them to file. There is no magic equation to apply to your circumstances to […]

Chapter 7 & Chapter 13 Bankruptcy

The two most common types of bankruptcy filed by individuals are Chapter 7 and Chapter 13. However, many people do not know the differences between these two types of filings and which type of […]

How does the Automatic Stay Help You?

When you file a personal bankruptcy case, the automatic stay is immediately effective. The stay is very beneficial for individuals who have been facing financial troubles for a while or who are facing a […]

Bankruptcy and Median Income – Do you qualify?

The “Means Test” is a major hurdle for anyone who’s considering filing a Chapter 7 bankruptcy. The Test consists of a financial analysis of income and allowable (necessary) expenses to determine how much “discretionary” […]