chapter 7 bankruptcy Archives - Herrin Law
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chapter 7 bankruptcy Tag

When you file bankruptcy, you are required to disclose all of your assets. This includes any inheritance you may receive (even if you have not received it). The most important fact regarding an inheritance is when the person passed away.  If you receive the inheritance before filing, then you should discuss with your attorney on whether to proceed with filing. In most situations, the inheritance will be non-exempt, which  means you won’t be able to...

In order to qualify for a chapter 7 you must pass the means test.  This is a form you fill out that lists your income and expenses and compares them to the median income/expenses for people in your zip code. In order to determine what the maximum income is to get you to qualify for a chapter 7, we have to know some additional information. First, you have to start with the county you reside in.  Second, you...