Posts Tagged: Chapter 7

If I have previously filed for bankruptcy am I eligible to file again now?

A prior Chapter 7 bankruptcy discharge prevents another Chapter 7 case for 8 years from the date of the first case filing.  A prior Chapter 13 discharge prevents a Chapter 7 case for 6 years unless the case repaid 70% of the debt and was filed in good faith.  A prior Chapter 13 Discharge prevents another

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How do I know if I can file for Chapter 7?

Law changes in 2005 created a “Means Test” as a method of determining who is eligible to file for Chapter 7 relief.  Households with too much income or too little allowed expenses will not be eligible.  The “Means Test” uses the past 6 months of household income to determine the average income (called “Current Monthly

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Will a bankruptcy hurt the credit of my cosigner?

Cosigned loans may be repaid after a Chapter 7 is completed so the cosigner’s credit is not damaged. Often the loan will be left solely in the name of the cosigner and payment arrangements are made informally between the cosigner and the person filing bankruptcy so that the payments are made on time. The bankruptcy

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