Bankruptcy Means Test

Written by

WHAT IS THE BANKRUPTCY MEANS TEST? The bankruptcy means test is a process to determine whether a debtor is eligible to file Chapter 7 bankruptcy, based upon his or her income. After the application of the means test, if one has significant disposable income remaining, the debtor may not be eligible to file Chapter 7 bankruptcy. The bankruptcy means test was implemented in the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), and is designed to prevent debtors with high income from filing Chapter Read More +

Bankruptcy Chapter 7 Cost

Written by

The cost of a Chapter 7 bankruptcy may differ depending upon the region or jurisdiction in which the debtor files Chapter 7 bankruptcy. This means the cost in terms of attorney fees may differ. The filing fees are the same within all of the jurisdictions in the United States. The filing fee for a Chapter 7 bankruptcy is $335, as of May, 2017. No matter where one files Chapter 7 in the United States, the filing fee is $335. The filing fee has been steadily Read More +

The Duties Of The Chapter 7 Bankruptcy Trustee

Written by

We at The Weller Legal Group know how difficult it is to file bankruptcy. We are here to help you with making the Chapter 7 bankruptcy process easier for you and your family. In this article we are going to discuss a common question that we get asked and that is what are the duties of a Chapter 7 bankruptcy trustee. WHAT IS CHAPTER 7 BANKRUPTCY? Chapter 7 bankruptcy is the type of bankruptcy where a trustee is appointed to liquidate nonexempt assets to pay Read More +

Five Benefits Of Filing Bankruptcy

Written by

Each year, a multitude of individuals, families, and small businesses are faced with the decision as to whether or not Chapter 7 Bankruptcy is a viable course of action. Alternatively, a Chapter 13 filing may be a better course of action for some who may not qualify for Chapter 7 relief. And, for some businesses and certain individuals, a Chapter 11 petition may be the right course of action. In any given situation, one of the three may be the better decision depending upon a Read More +

Do I Need To File For Bankruptcy?

Written by

It has been said that for most people “…bankruptcy is a scary proposition…”. Depending upon the type of bankruptcy case, a person’s asset vs. debt ratio, and myriad other factors, it could be added, “…and rightfully so”. Even the word “bankruptcy” has an ominous ring to it – and – the concept of “going bankrupt” has been a shaming one for most people over the course of history. Yet, bankruptcy remains the “law of the land” for individuals and corporations alike. The list of famous Read More +

Should I File For Bankruptcy? – Reasons Why Bankruptcy May Be Right For You

Written by

The decision to file for bankruptcy is a tough one no matter how you cut it. Going through the bankruptcy process takes time and money. Once a petition is filed, a person’s entire financial situation is a matter of public record and open to others. The process will take an emotional toll on the filer and his/her family and loved ones as well. So – again – the decision to file for bankruptcy is a tough one. One that should not be taken lightly and Read More +

Bankruptcy Help Near Me

Written by

If I was seeking bankruptcy help near me, I would probably contact Jay Weller at Weller Legal Group PA. Mr. Weller has practiced almost exclusively bankruptcy law, since his admission to the Florida Bar in 1993. Mr. Weller only represents debtors and never creditors. He primarily represents clients in Chapter 7 bankruptcy and Chapter 13 bankruptcy proceedings. If you need help in bankruptcy then Jay Weller is probably among the best bankruptcy attorneys currently practicing in the greater Tampa region that encompasses the Middle District Read More +

Bankruptcy Pros And Cons

Written by

The pros and cons of Bankruptcy are myriad. Among the cons of bankruptcy, is the filing of a Chapter 7 or Chapter 13 Bankruptcy will appear on your consumer credit report for a period of ten (10) years. Presently, in order to qualify for a federally backed mortgage loan, a debtor’s bankruptcy must be a least two years old. Some creditors may not extend credit to debtor’s who are still within a bankruptcy. Some creditors will extend credit to a debtor still in bankruptcy, with Read More +

Reaffirmation Agreements In Bankruptcy

Written by

The primary thrust of Chapter 7 Bankruptcy cases is to deal with consumer debts in such a manner as to ultimately “discharge” them – i.e. eliminate the obligation to pay certain types of debt and get a “financial fresh start”. While not all debts are subject to “discharge”, many of them – primarily “consumer debts” – are. There are some circumstances where a debtor opts to continue to service certain debts that may be otherwise dischargeable in Chapter 7 bankruptcy proceedings. Being involved in a Read More +

The “means Test” In Bankruptcy (chapter 7) – Part Iii

Written by

Part III of Three Related Articles [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales”&“Part II, Changes in Bankruptcy Law”] After passage of the BAPCPA in 2005, anyone wanting to file for Chapter 7 bankruptcy relief was faced with the new requirement of having to pass a “means test” to determine their eligibility. The primary purpose of the means test is to help the court determine whether an individual should be allowed to file a petition Read More +