Blog 2017-07-04T11:11:51+00:00

What Is The Difference Between Chapter 7, 13 and 11?

Most of our cases are chapter 7 cases where you pay nothing back. A chapter 7 is very fast as it is typically completed in 90 days, and it is the least expensive option. So at this point you’re probably thinking, “well this sounds perfect; that is exactly what I want.” Normally, this is the best option for people. The primary reason that people will file [...]

By | June 1st, 2017|Categories: Uncategorized|0 Comments

What is the “Means Test”?

If your income is under median, then you are automatically eligible for chapter 7 based on your income. However, if your income is over median, then it gets a little more complicated. We must satisfy a formula called “the means test.” The means test is a somewhat complicated form, very similar to a tax return, where we input your gross income and take several types [...]

What is the “Median Income”?

Median income is a benchmark in bankruptcy, which can determine whether or not you qualify for chapter 7 bankruptcy. Chapter 7 bankruptcy is the chapter where your debts are wiped out. if your income is under the median income for your household size, then you are automatically eligible for chapter 7 from an income standpoint. However, if your income is over median, then more analysis [...]