Bankruptcy Timeline: You set an initial appointment with your bankruptcy attorney and make arrangements to be in the office at the appointed place and time to discuss whether a chapter 7 is the right solution for you. Either at the initial consultation or later, you will retain your new chapter 7 lawyer and pay the…
To determine whether a Chapter 7 bankruptcy is abusive, Courts will use what is called a Means Test Formula, which has two important terms to define: Currently Monthly Income (CMI) – How much money you make per month through income sources (excluding Social Security benefits and a few other exceptions) during the six (6) months prior…
Is Chapter 7 or Chapter 13 Bankruptcy Better?
