 Del Mar Bankruptcy Attorney Law Firm is #1 in my book. They are great. If it weren't for them, we would have lost our home. I am glad that he's an honest attorney and will tell you the truth. We think about him a lot when we think about what he's done for us. - Charles Vitug, Del Mar, CA  Can Bankruptcy Only Be Applied to Credit Card Debt? Can you declare bankruptcy on just your credit card debt? The short answer yes. The long answer well, keep reading the rest of the article. Before 2005 you would be able to discharge on your credit cards without any consequence from your lenders... |
Means Test - 858-352-7382
Del Mar Bankruptcy Lawyer @ Del Mar Bankruptcy Attorney Law Firm - Means Test
The bankruptcy process in the United States changed drastically in 2005, when the Bankruptcy Abuse Prevention and Consumer Protection Act was passed. Now, in order to qualify for debt liquidation through Chapter 7 bankruptcy, a debtor must pass a means test.
If you are considering filing Chapter 7 bankruptcy, it is important to learn about the eligibility requirements and the process. At Del Mar Bankruptcy Attorney Law Firm, we assist clients in filing personal bankruptcy. To learn more about the means test, contact a Del Mar Chapter 7 bankruptcy attorney.
The Bankruptcy Means Test
The bankruptcy means test looks at an individual's finances — including the amount of debt in relation the value of assets — to determine whether he or she has enough money to pay back debts over a period of three-to-five years. If so, Chapter 13 bankruptcy may be most appropriate. If an individual's monthly income is low enough (as determined by taking the means test), and individual can likely file Chapter 7 bankruptcy.
The means test limits the number of Chapter 7 bankruptcies that can be filed. But don't let that scare you. Most people who would have previously qualified for Chapter 7 prior to 2005 still qualify under the new laws. Talk to a bankruptcy attorney to find out more.
Find out more about these related topics:
- Chapter 7 bankruptcy
- Chapter 13 bankruptcy
- Life after bankruptcy
Contact a Bankruptcy Expert Lawyer Today - Free Consultation
Call 858-352-7382 or send us an e-mail to learn more about how we can help you. The hiring of a lawyer is an important decision that should not be solely upon advertisements. Before you decide, ask us to send you free, written information about our qualifications and experience. Del Mar Bankruptcy Attorney Law Firm are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
