Bankruptcy income eligibility got easier April 1, 2023 Income eligibility to file Chapter 7 bankruptcy in Virginia got easier April 1, 2023. The median income–that’s the cutoff for automatic eligibility based on income–shot up six to ten thousand ... Read full article
Do It Yourself projects can be terrifying — and satisfying too. Sprucing up your home on your own, repairing the car, even doing your own tax returns can be challenging but helps save you money and makes you more independent. ... Read full article
Sometimes in a Bankruptcy case, timing is everything There are lots of numbers in the Bankruptcy Code: numbers that limit filing under Chapter 13 consumer reorganizations based on the amount of debt that you owe; numbers that determine the amount of your ... Read full article
Back when the bankruptcy laws were changed in 2005, a hard calculation was implemented, based on household income and household size, to determine whether or not a bankruptcy filer was making a “decent” living, and should be disqualified from discharging ... Read full article
Written by Craig D. ... Read full article
Does the Means Test Violate the First Amendment? The bankruptcy means test, a much-maligned formula for determining chapter 7 eligibility, has been criticized on many grounds since it’s enactment as part of the 2005 Bankruptcy Abuse Prevention and Consumer ... Read full article
Clients are always concerned about their credit score. It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option. Although ... Read full article
Written by Craig D. ... Read full article
by Craig D. ... Read full article
Written by Craig D. ... Read full article
Written by Craig D. ... Read full article
Written by Craig D. ... Read full article
Believe it or not, the vast majority of bankruptcy lawyers, I would say 95% or higher, take their ethical obligations very seriously. We value the oath that we took when we received our license and honor it daily by dispensing advice in the best interests ... Read full article
Many of my Fort Worth bankruptcy clients ask about the differences between Chapter 7 and Chapter 13 bankruptcy. I find it important to educate all my clients about the qualification standards for both, as their financial standing has the most influence ... Read full article
by Craig D. ... Read full article
Your Current Monthly Income Affects Eligibility for Chapter 7 Bankruptcy The term “current monthly income” (CMI) is an important concept in bankruptcy that courts use in several “bankruptcy tests”. For example, your “current monthly income” is important ... Read full article
Millions of tickets are dolled out every year, not to mention government penalties and fines. Government tickets and fines are one of the most common forms of debt. Can these be discharged through a bankruptcy filing? In Chapter 7 bankruptcy, section ... Read full article
Qualifying for Chapter 7 Bankruptcy: The Story of Toni Braxton In October 2010, six-time Grammy Award winner Toni Braxton filed for bankruptcy a second time. In her Chapter 7 bankruptcy petition, Braxton claimed debts of between $10 million and $50 ... Read full article
How the Bankruptcy Means Test Works More and more consumers these days are becoming familiar with the bankruptcy Means Test and they are calling bankruptcy attorneys asking if they pass the Means Test. The Means Test is a test that you have to pass in ... Read full article
