If you are looking to wipe out all of your debt and have a fresh start, Chapter 7 may be the best option for you. Of all the types of bankruptcies Chapter 7 is the most all-encompassing, because it covers not only individuals, but also corporations, partnerships and sole proprietorships. It is also the most…
In late 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. Among other things, this act requires a "means test" to see if debtors qualify for Chapter 7 bankruptcy relief. The means test examines your monthly income and expenses and compares them to the median income in and around…
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires: (a) A debt relief agency shall... (1) not later than 5 business days after the first date on which such agency provides any bankruptcy assistance services to an assisted person, but prior to such assisted person's petition under this title being filed, execute a…