Chapter 7 Bankruptcy Worksheet Help Guides

What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy is a type of bankruptcy that involves a process for debtors to eliminate most of their debts. Through the process, debtors have the opportunity to start over with a clean slate in terms of their debt and credit. It is essentially a process that allows people to start over financially once it has been completed. However, it is no...
Who can qualify for Chapter 7 bankruptcy?
As of 2005, debtors must pass the "means" test in order to qualify for Chapter 7 bankruptcy. The "means" test is used to determine whether your income is low enough relative to your necessary expenses to qualify for Chapter 7 bankruptcy. The test is a specific formula designed to prevent high-income earners from taking advantage of the system. The i...
Bankruptcy: What You Need to Know
If you are overwhelmed with debt and live pay check to pay check, hoping nothing goes amiss, you are not alone. In 2016, nearly 800,000 people filed for bankruptcy so they could relieve themselves of their financial burdens and get a fresh......
How to Create a Bankruptcy Worksheet
A bankruptcy worksheet is an excellent way to organize your finances and will help you determine if filing bankruptcy is a good option for you. These instructions will explain how to create a bankruptcy worksheet using LegalNature and......
What Is Chapter 7 Bankruptcy?
Filing Chapter 7 bankruptcy allows people overburdened by debt to get rid of some or all of it and have a fresh start. A person appointed by the bankruptcy court, called a “Trustee,” oversees each case. This article will discuss the Chapter 7......