Unlike Chapter 13 bankruptcy , which is available to everyone, you must be eligible to file under Chapter 7 of the U.S. Bankruptcy Code. Since this process eliminates most, if not all, of your debt in a very short period of time, certain measures have been taken to limit the ...
Read MoreOne of the driving thrusts behind the 2005 Bankruptcy Reform laws (known as BAPCPA) was an effort to make it more "difficult" to file for Chapter 7 ...
View MoreWith the advent of the income median level and the means test, debtors who previously might have been able to file a Chapter 7 bankruptcy have been ...
View MoreOn a fundamental level, the 341 Meeting of Creditors is the same regardless of chapter. The meeting presents an opportunity for creditors to be ...
View MoreOne question that is asked, at nearly every single 341 Meeting of Creditors, is whether the debtor has reviewed the bankruptcy information sheet. This ...
View MoreThe means test is the requirement under the 2005 Bankruptcy Code Amendments that individual debtors fill out to determine if they qualify for a ...
View MoreIn 2005, the US Bankruptcy Code was amended to incorporate a means test. The design of the means test is to establish a way to ensure that those who ...
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