Let an Experienced Bankruptcy Attorney Guide You Through the Process Under American bankruptcy law, individuals must submit to a "means test" to determine eligibility for the permanent discharge of debt under Chapter 7. The means test establishes whether you have the resources to repay your creditors over a three-to-five-year period. If you do, … [Read more...]
Passing the Income Side of the Means Test in Texas
Most people can pass the means test and qualify for Chapter 7 "straight bankruptcy" simply because their income is no more than the "median income" for their state and family size. So if you are considering bankruptcy, this blog post can help you find out if you are among the many people whose income easily qualifies them for Chapter 7. The Point … [Read more...]