By Glenn A. Brown, DMD, MBA on November 10, 2008
What is Chapter 13 Bankruptcy?
Chapter 13 Bankruptcy is often referred to as a bankruptcy repayment plan. This type of bankruptcy enables wage earning individuals to propose a three to five year plan to repay their creditors. After the repayment plan commences, creditors are forbidden from pursuing other collection efforts against debtors.
Chapter 13 is similar [...]
Posted in Bankruptcy | Tagged bankruptcy relief, bankruptcy trustee, Chapter 13 Bankruptcy, delaware bankruptcy, glenn a. brown, lawyer, philadelphia bankruptcy attorney, real world law, repayment plan, unsecured debts
By Glenn A. Brown, DMD, MBA on November 10, 2008
In late 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was enacted into law. Among other things, this act requires a “means test” to see if debtors qualify for Chapter 7 bankruptcy relief. The means test examines your monthly income and expenses and compares them to the median income in and around [...]
Posted in Bankruptcy | Tagged abuse prevention and consumer protection act of 2005, bankruptcy protection, bankruptcy relief, BAPCPA, chapter 13, Chapter 7 bankruptcy, debtors, means test, median income