The means test helps decide whether a person or household qualifies for debt forgiveness or financial benefits. The means test considers your expenses, monetary resources, income, and size of your family in determining whether one has disposable income enough to pay back debts. A bankruptcy means test also determines who is eligible to get their  … Read more

An automatic stay also referred to as a stay, is an automatic injunction that stops creditors, with certain exceptions, from starting or continuing to take actions against a debtor who has filed for bankruptcy. This injunction is especially useful when the debtor is at the risk of being foreclosed on, being evicted, losing basic resources  … Read more

It is essential to hire a bankruptcy lawyer when filing for bankruptcy. A bankruptcy on its own is a complicated process, and you do not want to go through this alone. Understandably, you are struggling for funds, which could tempt you to become a DIY attorney or go for just any kind of attorney. However,  … Read more

Bankruptcy is a legal process that gives you the chance to discharge your qualifying debts. Deciding to file for bankruptcy is a big step to take. You are faced with multiple things to consider – you have to understand what bankruptcy may (or may not) do for you. You have to evaluate your options and  … Read more

When you are way behind on your debts and facing bankruptcy, the thoughts of squeezing out even more money to hire a bankruptcy attorney might push you to consider representing yourself in a bankruptcy case. The internet has made D-I-Ys relatively easy to achieve in practically everything. One internet search, a few clicks, a few  … Read more

The chance to start fresh is not available everywhere, but you are lucky to have this chance when you have loads of debts on your shoulders. Bankruptcy wipes out almost all your debts and lends you a hand in getting back on our feet. But, before proceeding further, you must know whether you can file  … Read more

Bankruptcy is not a universal act or law with identical conditions for everyone. However, every chapter of bankruptcy law has something different to offer as per varying business and credit situations. If you are also confused between chapter 7, chapter 11, or chapter 13 of bankruptcy, then the following guide can be highly assistive for  … Read more

An individual needs to thoroughly assess his/her assets and debts before filing for bankruptcy. This process is known as pre-bankruptcy planning. In this stage, one needs to ensure that they avoid the common mistakes made in a bankruptcy proceeding and come out of the bankruptcy proceedings triumphant. Consult a Legal Expert Individuals filing for bankruptcy  … Read more

If you are concerned about losing an asset, you might want to consider protecting your assets before filing for bankruptcy. This is one form of pre-bankruptcy planning. Most debtors who file for Chapter 7 or Chapter 13 bankruptcy manage to keep their property after understanding this process. It is crucial to understand how to value  … Read more

A bankruptcy is a legal situation in which a person, company, or some institutions, are unable to pay their debt from their available financial resources. Bankruptcy is one of the cheapest and quickest options to get out of debt by stopping debt collectors and even saving your assets. One of the most compelling benefits of  … Read more