What is the Means Test relative to Chapter 7 Bankruptcy?

Means Test Chapter 7 Bankruptcy

If you have spent any amount of time research debt reduction, liquidation or bankruptcy, you have undoubtedly come across the Bankruptcy Terminology, Means Test. In short, the basic lawyer definition of Means Test – Section 707(b)(2) of the Bankruptcy Code applies a “means test” to determine whether an individual debtor’s chapter 7 filing is presumed…

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How Quickly Can I File My Arkansas Chapter 7 Bankruptcy

How Quickly Can I File My Chapter 7 Bankruptcy in Arkansas

Often people will delay their Arkansas Chapter 7 Bankruptcy filing. They aren’t sure if they should file or keep trying to pay off debt. They don’t really want to file and suffer the credit implications. And quite honestly, they don’t know how to file or have the money to hire an attorney to file. The…

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Bankruptcy Terminology Glossary with Definitions

Bankruptcy Terminology Glossary and Definitions

Bankruptcy Terminology can be confusing and frustrating even for fellow lawyers that don’t typically work inside the field. To non-attorneys, it can come across as straight gibberish! Below is a list of commonly used terms with their definitions as they apply to bankruptcy cases. For more information on Bankruptcy Terminology and the Bankruptcy Process, visit here: http://bankruptcyofarkansas.com/what-is-bankruptcy/.…

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What is Chapter 7 Bankruptcy in Arkansas

Chapter 7 Bankruptcy in Arkansas

Financial hardships can strike any person at any given moment in time leading you to consider a Chapter 7 Bankruptcy. Common cases we see stem from divorce, unexpected unemployment, sudden and exorbitant medical expenses or a number of other causes each unique. These hardships can quickly drain your cash reserves and become a drain, not only to your…

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