Many bankruptcy filers in California choose Chapter 13 to deal with their debts. They also must file Chapter 13 if they are above the income threshold for Chapter 7. Chapter 13 allows consumers to repay debts over time with a payment plan. How Chapter 13 payment plans...
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Month: April 2022
What to know about the Chapter 7 means test
If a consumer sees no way to pay their debt, they may decide to file for bankruptcy in California. Most filers choose Chapter 7 bankruptcy, which liquidates nonexempt assets to pay creditors. However, filers must pass a means test to determine their eligibility. How...