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Mar 2014Madison emails about the Bankruptcy Means Test
Posted by Robert Weed / in Virginia Bankruptcy / No comments yet
Madison did research on the bankruptcy means test. Â Then she emails me for help.
Hello. I have been doing some research and I believe my husband and I should file for Chapter 7 Bankruptcy but I’ve taken the means test and our income is well over what I’ve seen the limit for a three household income. I made about $84k last year and my husband made about $35k. But our debt is too extreme for us to be able to handle. If we include our house we have around $300k in debt, without it, we have about $100k in debt. Is there anything we can do being over the limits? I hope you can help us. Thank you. — Madison |
I replied to Madison that I hope that I can.
Last year I was able to get almost 130 families approved for Chapter 7 bankruptcy, even though they were over the bankruptcy means test cut off. Â That was thirty percent of my cases. Â And more than any other law firm in Northern Virginia.
Each case is different. Â That’s why we go over our thirty seven page consultation form when you and I first meet.
We need a lot of information in order to really understand the best way to handle your case.
I talk to people almost every month who have been told by other lawyers that they have to file Chapter 13, because of the bankruptcy means test. Â And after our detailed consultation, we can see there’s Chapter 7 eligibility.