An Example Why Passing the Means Test May Be Easier in 2018
Filing bankruptcy before the end of December may help you qualify for Chapter 7 bankruptcy. Here's an example showing how this could work.
Simple and Not-so-simple Debts in Chapter 7 and 13
Very broadly speaking Chapter 7 handles simple debts as well or better than Chapter 13 does, which handles more difficult debts better.
Chapter 7 or 13? You May Be Surprised
Chapter 7 takes about 4 months, while Chapter 13 takes 3 to 5 years, and likely costs more. But that doesn't begin to answer which is better.
The Means Test is Based on Timing
Most people easily pass the means test based on their relatively low income. Timing plays a huge role in calculating your income.
No Means Test If You Fit within a Military Exemption
There are two military-related exemptions from the Chapter 7 means test. They are narrow but if you qualify it can be a major advantage.
No Means Test If You Have More Business Debts than Consumer Debts
You only have to pass the means test if you have "primarily consumer debts." If you have more business debts, skip the means test.
The Chapter 7 Means Test
You have to pass the means test to qualify for a Chapter 7 case. It's often an easy test to pass but one with some crucial twists and turns.
Bankruptcy–A Moral Choice
When is it moral to break your promises to pay your debts?
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Bankruptcy Timing and the Holidays
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
Making Sense of Bankruptcy: Can a Non-Citizen File Bankruptcy?
Yes, you can usually file bankruptcy in the United States regardless of your citizenship status.
