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Steven J. Feldman is a state bar certified specialist in Wills, Trust and Probate with over 35 years experience in tax, bankruptcy and real estate.
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Chapter 7 (straight bankruptcy) A restriction on wages, called the means test, limits the availability of chapter 7 or straight bankruptcy. The numbers change periodically. If your income is more than the current limit, you must prove your expenses are within the national and local norms. If your expenses are too high, then only...
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Q: Can I wipe out all my bills & debts in a Chapter 7. A: Typically, yes! All of your credit cards debt, medical bills, and income taxes over 3 years old may be discharged in a Chapter 7 Bankruptcy. A Chapter 7 will give the honest debtor a “fresh start. Debts that are...
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There are two main options under the U.S. Bankruptcy Code for people seeking financial relief by filing bankruptcy. Chapter 7 Bankruptcy For people with little income, few assets and mounting credit card bills or medical debt, filing Chapter 7 bankruptcy may be a good option because it allows a discharge of unsecured debt—that means...
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Six common Fears and Misconceptions about Bankruptcy There are two main options under the U.S. Bankruptcy Code for people seeking financial relief by filing a consumer bankruptcy. For a free, 30-minute analysis with an experienced bankruptcy lawyer click here. Chapter 7 Bankruptcy For people with little income, few assets and mounting credit card bills...
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