bankruptcy and their income has been reduced due to job loss and a persons income falls somewhere above the means but in 2 months you will be below the means to file a chptr 7 because of job loss then does a person have to wait until they are under the means for a 7 or can they file for a 7 now even tho the income is above the guidelines?
2007-12-20 08:31:53 · 6 answers · asked by Lea 4 in Politics & Government ➔ Law & Ethics
Did you calculate this solely on whether you make above the median income? I ask because you might still qualify under the means test even if you make above the median for your household size in your locale. Consult a local attorney and they can give you a good idea. Other factors looked at are the IRS allowances for food, car, and actual secured debts, tax payments. Did you look at all these factors when figuring out whether you're "below the means"? The form is available on your local bankruptcy court website, or you could download it from www.ilnb.uscourts.gov (substitute the iln for your state and district and you should get your local court).
I don't think there's too many lawyers that would "set up" their clients to do chapter 13 as most lawyers don't even do chapter 13 bakruptcies because of the failure rate. I personally warn people as to how hard chapter 13 is because they need to know what they are getting into for the next 3-5 years.
2007-12-21 19:16:23 · answer #1 · answered by Lesley 5 · 0⤊ 0⤋
You should take a look at the options you can find at: QUOTESDEAL.NET-
RE Question for bankruptcy lawyers.... If a person wants to file for?
bankruptcy and their income has been reduced due to job loss and a persons income falls somewhere above the means but in 2 months you will be below the means to file a chptr 7 because of job loss then does a person have to wait until they are under the means for a 7 or can they file for a 7 now even tho the income is above the guidelines?
2014-10-02 22:47:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I'll tell you this much having spent 4000 on this, and seeing others. Just let your stuff foreclose, unless you've got a job the bank can come after like us. Our neighors both lost their long time jobs due to slowdown, both just let their house debt slide, we had to go lawyer route. Now we have an income that can be easily gotten at. But don't be going ch 13 route, do the ch7 or nothing, I swear the darn lawyer set us up to give him another 2000. I hate lawyers they are greasy #astards!!!!
2007-12-20 08:44:34 · answer #3 · answered by kim 7 · 0⤊ 2⤋
No, and not using a criminal expert fill financial ruin is greater volatile. it quite is substantial that a financial ruin case be filed and dealt with properly. the policies are very technical, and a misstep would impact a debtor's rights.
2016-11-04 03:54:42 · answer #4 · answered by ? 4 · 0⤊ 0⤋
The person who goes bankrupt is at the mercy of the credit card companies who rewrote the laws. It is harder then ever now to get a fresh start though bankruptcy.
2007-12-20 08:36:51 · answer #5 · answered by Anonymous · 0⤊ 1⤋
you can file a 7 now if you want, its just ur attorney might have to make some adjustments
2007-12-20 08:35:47 · answer #6 · answered by nateofire026 1 · 0⤊ 1⤋