Articles Tagged with means test

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

Those without previous knowledge may not realize that Chapter 7 bankruptcy isn’t something that is automatically available to everyone. Instead, you must first qualify before a court will allow you to pursue a Chapter 7 liquidation bankruptcy. So what do you need to do to qualify? The bankruptcy code requires filers to pass what’s known as a means test. To learn more about the means tests and how they work, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

While earning a salary of over $90,000 as chairman of the Illinois parole board four years ago, Adam Monreal signed numerous sworn documents in his personal bankruptcy proceeding reporting his annual salary as $38, 676.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are my alternatives to bankruptcy?”

Everyone knows that financial problems and marital problems often go hand-in-hand. If you’re suffering from both issues and are considering bankruptcy, you may be confused about the best way to move forward. On the one hand, you could file for bankruptcy jointly, pre-divorce, and get the financial issues dealt with prior to the divorce. On the other, you could wait to turn the page on your relationship before digging into financial trouble. Which approach is best? As is so often the case, it depends on a variety of factors. To learn more, keep reading.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is the means test?”

The effect of getting a raise or losing your job after filing for bankruptcy depends on which type of personal bankruptcy you filed, and understanding what action to take is important. The temptation to not get around to reporting modest income increases, for example, can lead to your bankruptcy case getting thrown out of court, full responsibility for all debts and criminal fraud charges.

Bankruptcy Lawyer Bryan W. Stone answers the question “Do I need an attorney to file bankruptcy?”

Experts in the field of bankruptcy law gathered recently in Arizona to discuss legal changes and how these changes have impacted the majority of debtors. Those gathered at the symposium concluded that the changes that were part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) were not only ineffective, but served to make the bankruptcy process more confusing and more expensive for debtors. Ultimately, changes designed to make the process more difficult succeed only in driving away potential filers, helping creditors at the expense of those who may desperately need the relief offered by bankruptcy protection.