2021

How To Improve Your Odds In A Bankruptcy Case

Anyone filing for bankruptcy relief will want to have the highest odds of success possible. Fortunately, petitioning for bankruptcy is very process-oriented. If you file for the correct form of bankruptcy, send appropriate paperwork, and prove you qualify, the odds should be in your favor. Here is how bankruptcy lawyers handle the process. Qualification The biggest possible problem in most bankruptcy cases is people who don't qualify for a particular type of relief asking for it anyhow.

Two Debts That May Let You Bypass the Chapter 7 Means Test

Chapter 7 bankruptcy petitioners are required to pass a means test showing they don't have enough money to cover their bills. However, if you have certain debts in sufficient amounts, you may be exempt from having to take this test. Here are two debts that may let you bypass the chapter 7 means test. Tax Debt To understand how tax debt can provide an exemption to the means test, it's important to learn the difference between consumer and non-consumer debt.