rajshukla
Joined: 03 Jan 2012
Posts: 160
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 Posted: Tue Jan 03, 2012 12:44 pm Post subject: hi |
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In determining eligibility to file for a chapter 7 bankruptcy, the basic qualifying factor is income under the Means Test as set forth in 11 U.S.C. 707(b)(2). The debtor's income must fall below the Census Bureau's Median Income by Family Size. Thus, the Means Test is a two prong test: You've been through a lot lately trying to fix your finances, but the fight isn't quite over yet. Now that you've gotten everything discharged, it's time to start rebuilding your credit! About a month after things have completed it's time to start fixing your credit report after bankruptcy. Many people feel overwhelmed when they file or start thinking about filing for bankruptcy. Things tend to get worse when they ask their attorney questions because many of the answers are filled with "if this" and "It depends". What you need are straight forward answers that actually answer your questions.
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