Diemer, Whitman & Cardosi, LLP
Call Us Today
408-971-6270

Posts tagged "means test"

Chapter 7 Bankruptcy Is an Option for Individuals Seeking Debt Relief

chapter-7.jpgDebt Relief. Thinking about bankruptcy in such terms is the first step in no longer allowing any information gap-related anxiety from getting in the way of educating yourself about bankruptcy. Chapter 7, like other types of bankruptcy, is about relief. In bankruptcy's chapter 7 form, this relief is in the form of liquidation. Chapter 7 liquidation, as spelled out in the U.S. Bankruptcy Code, is "the sale of a debtor's nonexempt property and the distribution of the proceeds to creditors." When focusing on the positive, on relief, the words "nonexempt property" should jump out.

Chapter 7 Bankruptcy: Understanding the Classification of Debt and the Means Test

means test.jpgDeciding when to file for bankruptcy is a stressful decision for anyone to make. But, even after deciding what type of bankruptcy to file, you have to determine if you qualify for the type you so desire. Most people opt for chapter 7 bankruptcy because it discharges unsecured debt, unlike chapter 13, which restructures your debt but requires the debtor to still make repayments

  • Santa Clara County Bar Association | 1917
  • American Inns of Court
  • CWL | California Woman Lawyers
  • Bay Area Bankruptcy | Forun
  • The State Bar of California
Schedule A Consultation Today

Contact Us To Schedule an Initial Consultation.

We are here to assist with your business, real estate and bankruptcy law needs, call 408-971-6270 or complete the contact form below.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy