Qualifying for bankruptcy + Exemptions + Overview

How Mean is the Means Test?

Submitted by mlg on Tue, 10/26/2010 - 4:45pm

First things first, what is the means test?

No, its not literally an exam taken by the debtor. The means test is a calculation that determines whether a particular debtor qualifies for a chapter 7 bankruptcy, and if not, it may determine how much the debtor will have to pay to unsecured creditors in a Chapter 13 bankruptcy.

Maria Gonzalez's blog

What Is A Chapter 7 Bankruptcy?

During these uncertain times, many hard-working Americans find themselves overwhelmed by financial problems. It can happen to the best of people, no matter what tax bracket they qualify for. If you or anyone you know find yourself in these circumstances, it is crucial that all options of relief are considered. However, most people find that filing for Chapter 7 bankruptcy is the best alternative for financial relief.

How It Works

Does My Chapter 13 Payment Change With My Income?

The decision to file for bankruptcy is not one to take lightly. With the multiple bankruptcy plans available and the changes to bankruptcy law that occurred in 2005, it is important to be an informed about options from various scenarios. If you are considering filing for bankruptcy but have concerns about what may happen should your income change, here is an overview of the facts.

Chapter 13 is called the wage earner’s plan and allows people with a regular income to develop a plan for repayment of debt. Even people who are self-employed can file for Chapter 13.

Is Chapter 7 Bankruptcy right for you?

Submitted by acao on Mon, 09/14/2009 - 11:59am

During these uncertain times, many hard-working Americans find themselves overwhelmed by financial problems. It can happen to the best of people, no matter what tax bracket they qualify for. If you or anyone you know find yourself in these circumstances, it is crucial that all options of relief are considered. However, most people find that filing for chapter 7 bankruptcy is the best alternative for financial relief.