The timing of your Chapter 7 filing–a difference of even just a day or two–can affect whether you qualify for it based on your income.
Most people easily pass the means test based on their relatively low income. Timing plays a huge role in calculating your income.
With smart timing you can take advantage of the unusual way that your “income” is calculated for the Chapter 7 means test.
We show by example how the means test works, when a person qualifies for a Chapter 7 case simply by income.
Besides the many 3-year cost of living increases happening on April 1, 2016, new median income amounts also start applying on the same day.
Soon families of larger than 4 people can have a bit more income and qualify for a 3-year Chapter 13 payment plan instead of a 5-year one.
Think about filing bankruptcy in early 2016 if you had some extra source of money in mid-2015.
We show step-by-step how filing bankruptcy before the end of December can enable you to qualify for Chapter 7 “straight bankruptcy.”
Filing bankruptcy in December instead of January can make the difference between qualifying for Chapter 7 or being forced into Chapter 13.
How much has the compensation of top corporate executives really been going up? How much in comparison to their employees?
Has the minimum wage really been declining? Would an increase in the minimum wage mostly affect teenagers? What about women? And minorities?
Economists can debate how much unions have helped boost wages historically. But unionsâ decline does seem related to our wage stagnation.
Wages have not been rising because of high unemployment, increasing employer health care costs, and the shift to lower paying jobs.
Todayâs worsening income inequality is partly explained by stagnant middle class wages during the last decade. Why AREN’T wages rising?
Waiting until just the right time to file a Chapter 7 bankruptcy can help avoid being bounded into a 3-to-5-year Chapter 13 case.
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