There’s a saying we hear a lot in law – “what a difference a day makes.” In law, this is very true. If you file for bankruptcy on a Thursday, you may be ineligible for a Chapter 7 – submit that same petition on the Friday, and you could be eligible. It all comes to [...]
There are a lot of factors that have to be taken into consideration before filing for bankruptcy, and one of the most important is deciding on what date you will file. I know this may sound strange to many, however, the date you file becomes the key point in every other aspect of the bankruptcy [...]
If you are going to file for bankruptcy, then in most situations you are going to have to pass a means test to see whether or not you qualify for a Chapter 7 petition. The means test is based on the state’s median income and while your income can be discounted for various factors, many [...]
The Bankruptcy Abuse Prevention and Consumer Protection Act provides a set of guidelines that must be followed in order to seek protection under a Chapter 7 or Chapter 13 bankruptcy petition. This is especially true for Chapter 7 applications. Part of the process involves a means test to determine whether or not you are eligible [...]
