Bradenton Means Testing Lawyer
In response to pressure exerted by the credit card industry, the United States Congress established new restrictions on filing for individuals filing Chapter 7 bankruptcy to eliminate their unsecured credit card debt. The measure is officially known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the laws have become most commonly referred to as the new bankruptcy laws of 2005.
Perhaps the most widely-recognized provision of the new laws include the requirement for an individual or family to pass a bankruptcy means test before being allowed to eliminate personal debt through
Chapter 7. In it's simplest form, it is a test to determine whether the debtor has sufficient disposable income to fund a chapter 13 plan. If, after taking all allowed expenses under the means test an individual has over $182.50 in disposable income, the individual will be ineligible to discharge debt through Chapter 7. However, Chapter 13 debt restructuring is still an excellent option.
The Golden Law Group is one of Florida's Gulf Coast region's prominent bankruptcy and debt relief law firms. Lead attorney G. Donald Golden is Board Certified in Consumer Bankruptcy by the American Board of Certification. The firm's attorneys want you to understand the bankruptcy process and the requirements for filing. You may often see examples of bankruptcy means tests posted on web sites. The Golden Law Group cautions you from referring to these simplified versions of the test to determine your eligibility. Everyone's financial circumstances differ and the sample tests are usually not an accurate reflection of what an experienced attorney will include as income, assets and debt obligations.
No matter what chapter of bankruptcy the means test says you are eligible to file, you can stop creditor harassment immediately. Just tell them The Golden Law Group is your lawyer now.
It costs you nothing to get an accurate assessment of your financial circumstances and eligibility for Chapter 7 or Chapter 13 bankruptcy. Get the facts. Contact one of the firm's convenient offices in Manatee County, Hillsborough County and Sarasota County to schedule a free consultation with a knowledgeable Tampa, Sarasota, Bradenton and Brandon bankruptcy means test lawyer today. We do not have an office in Sarasota but we would like to get Sarasota clients to come to the Bradenton office.