rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 1:12 pm Post subject: hi |
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If you are a high income earner facing bankruptcy, it is important to understand how the means test for bankruptcy dictates bankruptcy alternatives available to you (Chapter 7 vs Chapter 13) and what the different alternatives impact you. Learning how to improve your means test score is key to qualifying for Chapter 7 and truly obtaining a fresh start. When a person or business has debts that they cannot manage they might consider bankruptcy. This can either be done by liquidizing assets which are spread between creditors with the remaining debts discharged or through a plan to repay all outstanding debts. When a person files for bankruptcy this is then recorded on public records and their credit file, which is held by the credit bureau. A persons credit file contains information relating to their finances and is often used by banks and other lenders to assess a persons credit worthiness. As you would think, having a bankruptcy on your credit file can be very damaging and many people want to know if it is possible to remove bankruptcy from credit files.
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