Chapter 7

The bankruptcy means test is a crucial component of the bankruptcy process introduced as part of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). It is designed to prevent higher-income individuals from filing for Chapter 7 bankruptcy....

Most people are unaware of the fact that the U.S. Bankruptcy Code reserves certain opportunities for those who are least likely to be able to repay their debts any time soon. Unlike Chapter 13 bankruptcy, which is available to most Americans, Chapter 7 bankruptcy is...

Filing for bankruptcy can be a confusing and difficult process, as well as an emotionally challenging one. It’s a decision that no one takes lightly and you need to be clear on exactly what it means for you. It can, however, be a really smart financial decision that...

One of the most common forms of debt relief people take is Chapter 7 bankruptcy. Chapter 7 bankruptcy is also called liquidation bankruptcy because many people have to go through a liquidation process to pay off some of their debt. Liquidation is the act of selling...

When someone’s overwhelmed with debt, bankruptcy is often a viable option for addressing the problem -- and it can be an effective way for someone to get a fresh financial start. But life’s uncertain: What happens if someone ends up suffering another major financial...

If you are struggling with overwhelming debt and feel like you are at the end of your rope, you may be aware of the benefits of bankruptcy and aware of how it could help you escape your current hopeless situation. However, outside of knowing the very basics about how...

Filing for bankruptcy is never an easy decision, and there are many reasons why Tennessee consumers are hesitant to take this step. There are many negative connotations associated with bankruptcy, but in reality, it is a smart step for many individuals who find...

Of the various different types of bankruptcies, Chapter 7 tends to be the most common as well as the simplest. Specifically, it's characterized by a trustee selling off assets not protected by exemption in an effort to settle debts with creditors. Under terms of...

People who file for bankruptcy in Tennessee are most likely aware of how that can affect things like their credit score and their ability to qualify for certain types of loans. However, they might be surprised to learn that a bankruptcy can also affect a...

When considering whether or not to take a new job, many people in Davidson look at not only the salary offered but also the benefits. Standard benefits include health insurance, retirement plans and paid vacation or other time off. In order to entice new employees,...