The bankruptcy means test is a tool used to determine if a debtor is eligible to file for Chapter 7 bankruptcy, which is sometimes referred to as “liquidation” bankruptcy. The means test was introduced as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) in an effort to prevent abuse of …
The Bankruptcy Means Test in New Jersey April 2023 Read More »
What Is The Bankruptcy Means Test? The cost of living in New York and New Jersey is so high. If you have fallen behind on your bills and creditors are harassing you, don’t feel bad. Thousands of people file for bankruptcy in New Jersey and New York each year. To determine if you qualify for …
Bankruptcy Means Test in Staten Island If you are falling behind on bills and can’t seem to get back on your feet filing for a Chapter 7 Staten Island bankruptcy may be an option to help you start over. It is important to understand that if you have found yourself in this position, you are …
Staten Island Bankruptcy: Qualifying Under The Means Test Read More »
If you are thinking about filing bankruptcy a New Jersey bankruptcy because you are unemployed due to the coronavirus pandemic or are already in a Chapter 13 repayment plan in New Jersey, you may be wondering “will my stimulus check count as income if I file Bankruptcy?” Fortunately, if you are filing bankruptcy in New Jersey, the United States Trustee’s office recently provided an answer to this question that many individuals in New Jersey are wondering. on April 7, 2020 the United States Trustee’s office, stated that stimulus checks should not be included when calculating an individual’s current monthly income on the New Jersey Means Test.
The bankruptcy Means Test in New York allows only people who are under a certain income limit and truly need the relief of a Chapter 7 to file. To pass the Chapter 7 Means Test, you must fall under the median income for a household of the same size in New York.
Filing for Chapter 7 bankruptcy in Union City, New Jersey involves several steps. First, gather all financial information, including income, debts, and assets. Then, consult with a bankruptcy attorney to assess eligibility and understand the process. The Means Test is a crucial element to determine eligibility. Once eligibility is confirmed, your attorney will help you …
How do I file for Bankruptcy in Union City, New Jersey Read More »
Filing for Chapter 7 bankruptcy in New Jersey involves several steps. First, gather all financial information, including income, debts, and assets. Then, consult with a bankruptcy attorney to assess eligibility and understand the process. The Means Test is a crucial element to determine eligibility. Once eligibility is confirmed, your attorney will help you prepare the …
Filing Chapter 7 Bankruptcy in New Jersey in 2024 Read More »
Filing for bankruptcy can be a complex and emotional process, but it can also be the first step towards financial stability. If you live in North Bergen, NJ and are considering filing for bankruptcy, it’s important to understand the process and the options available to you. Chapter 7 vs Chapter 13 Bankruptcy There are two …
The Covid pandemic put many people out of work. As many people try and navigate through the pandemic, the single thing that most people have felt is an impact on their income. With so much uncertainty, many people don’t know where to turn and wonder if filing for bankruptcy may be the best decision for …
I lost My Job due to COVID – Should I file for Bankruptcy? Read More »
Most people who come to our office are often conflicted about how bankruptcy will impact them in the future. Most people assume that filing for bankruptcy means that they won’t be able to buy a home in the future. Many people are shocked to learn that bankruptcy can actually help them buy a home. Most of the time, pe