The Bankruptcy Means Test

The Bankruptcy Means Test

The Bankruptcy Means Test operates in two ways:It will determine if you qualify for Chapter 7 Bankruptcy; and/orIf you do not qualify for Chapter 7 Bankruptcy, the means test establishes what you are required to pay your creditors in a Chapter 13 Bankruptcy.What is...
Preparing for a 341 Meeting of Creditors

Preparing for a 341 Meeting of Creditors

Upon filing a Chapter 13 Bankruptcy petition with the U.S. Federal Court, your case will be assigned by the Court to a specific Trustee that will oversee, and administer your case. Once a Trustee is assigned to your case, a Creditor Meeting under Section 341 of the...
How Bankruptcy Can Help With Back Taxes

How Bankruptcy Can Help With Back Taxes

If you owe back taxes (federal, state, or local), this can be a tremendous stress. Many people inquire as to whether filing bankruptcy can help deal with their tax debt. While every situation is different and needs to be assessed by a qualified bankruptcy attorney,...
DEBT CONSOLIDATION: CHAPTER 13 VS. DEBT CONSOLIDATION PROGRAM

DEBT CONSOLIDATION: CHAPTER 13 VS. DEBT CONSOLIDATION PROGRAM

It is important to understand the difference between a Debt Consolidation/Counseling Program and Chapter 13 BankruptcyThere are many advantages to filing a Chapter 13 Bankruptcy. The number one reason is the simple fact that a Chapter 13 Bankruptcy plan has the power...
How is My Credit Score Affected After a Bankruptcy Filing?

How is My Credit Score Affected After a Bankruptcy Filing?

Many people who file for bankruptcy already have a low credit score and/or are unable to obtain credit cards or a mortgage. With unpaid bills piling up and possible lawsuits from creditors,  a person’s credit score continues to go down as time goes on. After filing...