Filing for Chapter 7 bankruptcy may be the smart solution if you’re overwhelmed by debt and want most of it forgiven. If you’re wondering whether you qualify for Chapter 7 bankruptcy, the main eligibility requirement you have to meet is passing the “Means Test.” Here’s how to know whether you can pass the Means Test […]
Do I Qualify for Chapter 7 Bankruptcy in New York? Read More »
Your Chapter 13 Plan must meet the following four major standards in order to be approved by the Bankruptcy Court: 1. The “Chapter 7 test”2. The “Disposable Income Test”3. Form 22 standard4. Feasibility standard Chapter 7 test standard: In a Chapter 13 case, the Bankruptcy Judge will want to know that the unsecured creditors are
Chapter 13 Plan Will be Approved Only if it Meets All Bankruptcy Code Standards Read More »
The date selected for your bankruptcy case may have a significant impact upon the results you obtain in bankruptcy because the bankruptcy filing date is looked to as a starting point for many issues which arise in bankruptcy, including those pertaining to (i) your qualifying for Chapter 7 and the amount required for you to
The goal of the Chapter 13 repayment plan is to obtain a confirmed plan early on, make payments to the Trustee to pay your creditors and, ultimately, receive a discharge (perhaps 3-5 years later in many cases). Unfortunately, it is not uncommon to see Chapter 13 cases on the Trustee’s motion to dismiss calender. This
