Southern California Bankruptcy Law Firm Here to Help You
Are you struggling under severe financial debt? If you are finding it difficult to make ends meet on a daily basis, then it is time for you to consider your debt relief options. With extensive experience helping clients through the bankruptcy process, our dedicated San Diego bankruptcy lawyers at the Debt Relief Legal Clinic can analyze your financial situation and provide you with your debt relief options.
Over 30 Years of Bankruptcy Experience
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It is important to understand that the two options for personal bankruptcy, Chapter 7 and Chapter 13 bankruptcy, have different tests to determine eligibility. Our San Diego bankruptcy means test lawyers understand the bankruptcy requirements and how to apply the Bankruptcy Code to individual situations.
The Chapter 7 Bankruptcy Means Test
In its simplest terms, the Chapter 7 means test takes into account your gross income during the six months prior to the month you file. That number is used to calculate your annual gross income, which is then combined with your household size, marital status and any potential deductions.
Does this sound complicated to you? It should. Any small math error performed here may inaccurately show you are not eligible for Chapter 7 bankruptcy. It is highly important that you work with an experienced bankruptcy attorney from the beginning to make sure you do not lose any debt relief opportunity that may be available to you.
The Chapter 13 Bankruptcy Means Test
If you do not meet the requirements under the Chapter 7 means test, or if your debt relief goals show Chapter 7 is not the right type of bankruptcy for you, we will work closely with you to see if you are eligible for a Chapter 13 bankruptcy. The Chapter 13 means test is quite similar to the Chapter 7 test, but the goals are different. Under Chapter 13, we use the test to determine the minimum length of your repayment plan and how much debt you will pay back to your unsecured creditors.
Call a Bonita Chapter 7 Bankruptcy Lawyer at Debt Relief Legal Clinic
With offices in Bonita, Vista and San Diego, our dedicated legal team is here to help you through these challenging financial times. Call 1-877-663-3287 or e-mail us to schedule your free initial consultation today.