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...
If you owe money for back taxes, the IRS or State Revenue Department can garnish your wages or your bank account. Filing a bankruptcy will stop a tax garnishment. This is what is known as the automatic stay, which requires all creditors (including the taxing...
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...
As a debtor filing for bankruptcy, you are entitled by law to a court-ordered rule of protection known as the automatic stay. This applies in a Chapter 7 and in a Chapter 13 filing. There are several creditor activities that the automatic stay protects and/or...
Whether you’re upside down in debt because of being unemployed, too much spending, medical bills, college tuition or anything else, you should know that you’re not alone!Last year, almost 773,000 individuals found themselves in the same situation.You at one point or...
The first question for many people considering bankruptcy is “do I qualify?” In order to determine whether you qualify for bankruptcy, you should consult with a Marietta bankruptcy attorney. As a general rule, almost everyone qualifies for bankruptcy. Find...
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