A typical Chapter 7 case, including the time for our office to assist you in preparing the bankruptcy petition to be filed with the Bankruptcy Court, is between 4-6 months. As part of our initial analysis we will need to determine if you qualify for a Chapter 7 based on your income and family size. The Bankruptcy Code’s “Means Test” is a formula by which the Court determines whether a debtor has the means to pay back all or a portion of debt. If, according to this formula, you do not have an ability to repay your debt over a 3 to 5 year payment plan, then you will qualify for Chapter 7.
If you are currently struggling with debt, Chapter 7 may be an option to:
- Discharge unsecured debt, such as credit cards and medical debt;
- Stop creditor harassment;
- Achieve a fresh start on your financial future
Filing Chapter 7 bankruptcy is a one of the most difficult decisions any consumer or business is forced to contemplate. At Weiner Law Firm, P.C., our attorneys will assist individuals and businesses that are in financial distress navigate the Chapter 7 process.