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chapter 7 means test

Chapter 7 Means Test

When the Bankruptcy Reform and Consumer Protection act of 2005 was implemented, Congress created a means test required to determine if an individual would qualify for chapter 7 bankruptcy. At its core, the means test is an analysis of gross […]

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Chapter 7 vs Chapter 13

Chapter 7 vs. Chapter 13

What is the difference between chapter 7 and chapter 13? Chapter 7 allows most people to discharge their debts in a short period of time (usually about four months) and get a fresh financial start. From a bankruptcy lawyer’s perspective, […]

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