If you will be filing for bankruptcy protection, you have a few options regarding the best way to pay off a car loan or to buy a new vehicle before or during the period of a Chapter 13 bankruptcy. We recently discussed some aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners […]
means test
Means Test Helps Determine Filing For Chapter 7 or Chapter 13 Bankruptcy
The bankruptcy means test was established by congress as a standard method of calculating the disposable monthly income of a debtor, to help determine the amount paid to the trustee of a Chapter 13 bankruptcy plan. We recently discussed several aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners at Tom Scott […]
Disqualification: Overview of Bankruptcy – Chapter 13 and Why to File, Part 1
Series: #6 0f 13 In our previous article, we took an overview of Chapter 7 bankruptcy, and how it is handled in Indiana, an “opt out” state where residents take exemptions found under state law. In this installment, we will discuss why a debtor may not be eligible to file for a Chapter 7. Future […]
Income & Assets: Basics of Bankruptcy – Chapter 13 vs. Chapter 7 – Part 1
In this second installment of our series “Basics of Bankruptcy,” we discuss reasons to file a Chapter 13 bankruptcy rather than the less complex Chapter 7 bankruptcy. WHY FILE CHAPTER 13 ANYWAY? When considering to file bankruptcy, the first decision that probably should be made is whether you should file either a Chapter 7 or […]