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Reaffirmation Agreements

Reaffirmation Agreements in Chapter 7 Bankruptcy “To Reaffirm or Not to Reaffirm, That is the Question!” What is a Reaffirmation Agreement? A reaffirmation agreement in a Bankruptcy is a legally enforceable agreement to repay all or a portion of a debt. In order for the agreement to be valid the creditor must sign the agreement as […]

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What is The Chapter 13 Plan?

The “Plan” in a Chapter 13 Bankruptcy   “The “Plan” is a document that lays out what you want the Chapter 13 Trustee to do with the money to hand over every month during your bankruptcy.  It proposes and eventually dictates who to pay and how much to pay them.  It must be approved (confirmed)by […]

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The Means Test

  The Means Test in Bankruptcy   The means test in bankruptcy was part of the new bankruptcy law (BAPCPA) passed in 2005.  It is seen as the gateway to Chapter 7 eligibility.  It answers the question “Do I Qualify for Bankruptcy?”  An individual or couple must enter their income and allowable expenses in an elaborate […]

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