Glenn A. Brown, Esq. “My neighbor filed for Chapter 7 bankruptcy and was approved. I’m sure I will be approved, too.” This statement is false. In order to qualify for Chapter 7 bankruptcy, every debtor must undergo a “means test.” The means test will compare your family’s median income to that of other families in your state. If your…
This statement is totally subjective. Chapter 7 bankruptcy is likely the most widely used of all bankruptcy options. With that said, this does not necessarily mean that Chapter 7 is the best option for you. Whether or not Chapter 7 is ideal for you depends, in large part, on your personal debt and assets. It…
Gas and oil prices continue to creep downward. Oil is trading at a low $43 per barrel. According to AAA Atlantic, today in Philadelphia regular unleaded gas is averaging $1.86 per gallon. South Jersey gas prices are even lower, averaging $1.58 per gallon. Read more...
If you're wondering whether or not the new bankruptcy law will prevent you from filing for relief, you should take a look at this video from NACBA.