Tag Archives: means test
Bankruptcy Petition Preparers


  Bankruptcy petition preparers offer an option sort of like a guy in a trench coat selling wrist watches.  Bankruptcy petition preparers are not attorneys but offer ‘document preparation services’.  With a word processor and a computer, pretty much anyone can create a pile of paper. But a troublesome issue looms where bankruptcy petition preparers create [...]

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Means Test Chapter 7 Bankruptcy

BANKRUPTCY: Means Test – Chapter 7

The Chapter 7 means test determines whether people are eligible to file chapter 7 bankruptcy relief. Failing the test requires filing a chapter 13, filing no bankruptcy or taking a closer look. First Step To Chapter 7 Means Test The first step is simple math. Add all gross income in the household during the six [...]

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Model: Stephanie Waterman

Bankruptcy Basics: Chapter 7, Chapter 13

  Any view of bankruptcy basics starts with the two types of consumer bankruptcy:  Chapter 7 and Chapter 13. Chapter 7 cancels or “discharges” many types of debt.  Most credit card, medical, and other unsecured debts are discharged, as are most court judgments and loans. Many filers find all of their debts discharged. Debts not [...]

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Should I File Bankruptcy? What Basics Should be Considered?

Should I file bankruptcy?  Just the thought can overwhelm.  Mountains of debt, collections and other pressing issues bring the issue into view, requiring a look at pros and cons. First, calculate how long it will take to pay off your debts.  Throw all credit cards in a drawer.  Figure how much over the minimum payments you can make [...]

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Towing Cars in the Name of Security by @mjb on Flickr

Keeping Cars in Bankruptcy

Is keeping cars in bankruptcy possible while still discharging credit card debt?  We want to file a chapter 7 bankruptcy.  How do we tell if we make too much money to even file a chapter 7? Whether or not bankruptcy filers can keep any individual piece of property depends on many factors, including how much property [...]

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