Tag Archives: means test
How Does Filing for Divorce Affect Your Bankruptcy?
Bankruptcy and divorce unfortunately sometimes go hand in hand. Severe financial pressure in a marriage is one of the leading causes of divorce, and the breakdown of a marriage can have ruinous financial effects. Depending on your finances and the state of your relationship, bankruptcy and divorce proceedings can each significantly impact their respective outcomes. […]
Using the Business-Debt Exception to the Bankruptcy Means Test
Debtors who are considering filing for bankruptcy protection under Chapter 7 must meet the means test, which is designed to make this remedy unavailable to people with sufficient incomes to pay off all or a portion of their debts. If the debtor’s income for the prior six months is higher than the median income in […]
