Friend of mines lives in NY State, what's the steps he needs to take bankruptcy?
-
-
Tell em your broke and want to file bankruptcy I guess, prove you got debts and not much liquid assets and tell em USA basketball team didn't coverComment -
Mr. Bush said you cant do that anymore
Comment -
Call Jackie Childs and Corey Trotts.Comment -
here u go:
What is the Chapter 7 Bankruptcy Means Test?
Before filing for Chapter 7 bankruptcy, you will have to qualify through a Chapter 7 means test. Although there was a lot of media hype about the Chapter 7 bankruptcy means test disqualifying people from filing for Chapter 7 bankruptcy when it was introduced in 2005, the truth is that more than 96% of potential Chapter 7 petitioners still qualify. In the unlikely event that you are one of those few who do not, filing bankruptcy may still be an option; this time in the form of Chapter 13 bankruptcy.
The Chapter 7 means test is a two-step process which begins with a median income comparison. Explaining this first step of the Chapter 7 bankruptcy means test in more detail, your monthly income is compared to the median income in your state for a family that is the same size as yours. If your income is at or below the median income, you qualify for Chapter 7 bankruptcy. If your income is higher than the median income, it doesn't mean that you can't file for Chapter 7 bankruptcy, but rather triggers the second step of the Chapter 7 bankruptcy means test.
Calculating disposable income and unsecured debts is the second step of the Chapter 7 means test. If your disposable income over the next five years is less than $6,000 ($100/month), you "pass" the Chapter 7 bankruptcy means test and can thus file for Chapter 7. A local bankruptcy attorney can further explain how disposable income is calculated. If your disposable income during that five year period is greater than $6,000 but less than $10,000, you may still be able to file for Chapter 7 bankruptcy protection, depending upon your allowed expenses
^ Back to Top
Is filing bankruptcy right for you?
Fill out a free online bankruptcy case evaluation form or call Total Bankruptcy at 1 (877) 349-1309. We'll help you schedule a free consultation with a local Chapter 7 bankruptcy attorney who may assess your financial situation, discuss your legal rights and further explain why Chapter 7 bankruptcy may be the right option if you:
* Have no income or low income
* Have little or no money left after paying your necessary living expenses each month
* Rent or have little equity in your home
* Have few assets (or no assets) outside your furniture, clothing and other necessities.
^ Back to Top
Click Here For a Free Bankruptcy Evaluation
Before Filing your Chapter 7 Bankruptcy Case, You Must Receive a Briefing from a Credit Counseling Agency
The law requires that you receive a Credit Counseling Briefing from a certified credit counseling agency before filing bankruptcy, regardless of whether you're filing Chapter 7 bankruptcy or Chapter 13 bankruptcy. The agency will explain financial management and how to do a budget analysis, and will also discuss alternatives to filing bankruptcy. While there are some hardship exceptions to this rule, most debtors will have to get this briefing, and failing to do so before filing may result in your case being DISMISSED. Your Chapter 7 bankruptcy lawyer may refer you to the appropriate agency, or you can purchase an approved Credit Counseling Briefing online at www.StartFreshToday.com.
^ Back to Top
Get Protection from Your Creditors when You File for Bankruptcy
A fresh financial start may be in sight following these steps. You will first have to complete your credit counseling session and then provide all of the necessary information to your attorney, who will review your situation and prepare a bankruptcy petition. You will have to list personal information, including all of your income, assets, expenses and debts, on your bankruptcy petition and any related forms and schedules. You will also have to include any applicable exemptions to which you're entitled.
How important is it to disclose all of your debts when seeking to file for Chapter 7 bankruptcy? Whether or not failing to list certain debts is an honest mistake or a deliberate action, bankruptcy fraud is a serious offense that can be prosecuted.
From here, your attorney files the petition in local bankruptcy court, which will appoint a bankruptcy trustee to your case. After filing bankruptcy, an "Automatic Stay" is entered in most cases to prevent creditors from taking any further action against you outside of bankruptcy court.
^ Back to Top
You Have to Do Your Part to Get Your Bankruptcy Discharge
Be sure to follow your attorney's advice and do not attempt to conceal your property, destroy any financial records, violate any court order or make enormous, last-minute charges on your credit cards prior to filing bankruptcy. Please note that you may only file for Chapter 7 bankruptcy once in eight years. Understanding the Chapter 7 bankruptcy timeline is critical to making good decisions for your financial future.
^ Back to Top
Chapter 7 Bankruptcy Exemptions Protect Your Property from Creditors
Exemptions protect certain property from liquidation in bankruptcy. The specifics vary from state to state. Exemptions typically include your primary residence, tools, work equipment, vehicle, certain items of personal property and numerous other categories of property.
In most cases, exemptions will protect all of your property. If not, your court-appointed bankruptcy trustee can liquidate your non-exempt assets to pay your creditors. However, a trustee will only liquidate in most cases if he or she can obtain enough money from a sale to make a significant payment to your creditors.
^ Back to Top
Click Here For a Free Bankruptcy Evaluation
Keep Your Car - and Other Assets - by Reaffirming Secured Debts
While Chapter 7 bankruptcy may help eliminate unsecured debts, secured debts are generally not separated from the assets that secure them. That means that if you want your car loan discharged, you'll have to give back the car.
However, if you want to keep your car (or another asset that serves as security for a debt) you may be able to negotiate a reaffirmation agreement with your creditors in Chapter 7 bankruptcy. By reaffirming a debt, you agree to continue making payments in exchange for the right to keep your property.
^ Back to Top
The Final Step
Before getting your bankruptcy discharge, you must complete an approved Debtor Education Course: a personal financial management course required by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Your attorney may refer you to an approved financial management class, or you can purchase an approved Debtor Education Course online at www.StartFreshToday.com.
^ Back to Top
Chapter 7 Bankruptcy Fees: What are the Typical Costs of Filing for Chapter 7 Bankruptcy?
If you're interested in filing for Chapter 7 bankruptcy, you will likely wonder about how much it will cost to do so if you qualify through the Chapter 7 bankruptcy means test. View current Chapter 7 bankruptcy fees right here. (Note that Chapter 7 bankruptcy fees are subject to changes that will be listed on the website of the U.S. Bankruptcy Court).
^ Back to Top
Chapter 7 Bankruptcy May Provide the Fresh Start You Need
Filing bankruptcy - whether it's Chapter 7 or Chapter 13 - is a tough decision that shouldn't be undertaken lightly. However, if you're in a difficult financial situation that just keeps getting worse, filing bankruptcy may be the opportunity you need to seek broad protection against creditors, regain control of your financial life, and rebuild your credit after bankruptcy with the help of friendly lenders.
Don't live another day in financial torment. Take action and control today by talking with a Total Bankruptcy sponsoring attorney about how filing bankruptcy may be able to help with your current financial problems! Our number again is 1 (877) 349-1309, and you may also use our secure online case evaluation form. A local bankruptcy lawyer will review your situation and contact you for a free, no-obligation consultation.
^ Back to Top
* Privacy Policy
* Terms & Conditions
* Site Map
* State Offices
* More
Copyright © 2008 TotalBankruptcy, Inc. (as licensee). All rights reserved.Comment -
#1 - Slowly remove all your money from the bank and hide. Take that vacation you always wanted to and live it up big time. Use all the available credit you have on services when credit used up then file.Comment -
Copter come clean pal, it is you that wants to file. It is easy just follow the directions and it will be bail you out of the gambling hole your in. I think your clever doing it before NFL season so you haver a new bankroll in place instead of paying debts.Comment -
Originally posted by pavyracer
That's Cory B. Trotts
Comment -
1. Get Credit Cards
2. Use the credit to make bets
3. File Bankruptcy regardless of whether you win or lose
3 easy steps to filing bankruptcyComment -
hey helicopter why would you give two sh its about your friends financial situation unless you were sucking the life our of his cock , (PS have you tried the helicopter technique on your lover recently ?)Comment -
Originally posted by BeatTheJerk
Comment
