Bankruptcy Law Archives

The Bankruptcy Means Test: Why People File for Bankruptcy

March 8, 2021March 10, 2021 Adery

Declaring bankruptcy is a huge life decision. Sadly, the number of people filing for bankruptcy is rising by the day. However, declaring bankruptcy at the right time can present several benefits to an individual. It can offer a fresh start for people going through financial struggles by saving on time and money, preserving peace of mind, and reclaiming their financial situation. There are many reasons why people file for bankruptcy in the state of Arizona. If you have prepared to file for one, you must pass a bankruptcy means test…

How Can I Find The Official Federation Law Of America?

September 28, 2019September 28, 2019 Adery

There are multiple different reasons as to why you might want to start searching for the American law. Perhaps, you are concerned citizen was simply want to make sure that, you’re going to know everything there is to know about the American law in order for you to be able to help your country. Perhaps, you want to make sure that, you’re not going to be breaking any laws during one of your future ventures. Do You Know The Law? Whichever the case, knowing the law of the country you…

What is the Bankruptcy Means Test?

June 25, 2019 Adery

In 2005, the U.S. Bankruptcy laws changed because more people were filing Chapter 7 bankruptcy petition instead of Chapter 13. Chapter 7 wipes away unsecured debts such as credit cards and personal loans. Prior to the change in the bankruptcy law, you could file for Chapter 7 even though you had enough money to pay creditors the money you owed them. Now, you can’t choose which bankruptcy chapter you want to file. Instead, you must complete a Means Test. The bankruptcy Means Test is a formula to determine if you…