Recent Posts in Bankruptcy Means Test Category

  • Can I file Bankruptcy while in the Military?

    Posted By The Bankruptcy Law Firm || 21-May-2015

    Those in the military have the same right as any to file for bankruptcy relief and actually enjoy certain benefits over civilian debtors. On the other hand, filing for bankruptcy can also affect your security clearance in some situations. Service members are offered federal protection in civil actions thanks to the Service-member’s Civil Relief Act, or SCRA. This act allows courts the right ...
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  • Is Chapter 7 Right for You?

    Posted By The Bankruptcy Law Firm || 31-May-2014

    Chapter 7 bankruptcy can serve as a powerful tool for getting debt discharged and for paving the way for a healthier financial future. However, it is important to note that this type of bankruptcy might not be the right solution for everyone. While there are many benefits to Chapter 7 bankruptcy, there are also many risks that need to be considered. Due to this fact, it is vital that you seek ...
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  • The Bankruptcy Means Test

    Posted By Oakland Bankruptcy Attorney || 11-Dec-2013

    Section 707(b)(2) of the Bankruptcy Code applies what is called a "means test" to determine whether a debtor's filing of a Chapter 7 would be presumed an abuse of the Bankruptcy Code, thereby requiring a conversion of the case to a Chapter 13. Essentially, the "means test" was created to determine whether a debtor's income is low enough to qualify for a Chapter 7 ...
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