December 24, 2019
Bankruptcy – Chapter 7
Bankruptcy – Chapter 7
Services
Find Out If You’re Eligible To File Chapter 7 Bankruptcy Forms
Being in debt is a scary, stressful, and unhappy place. Filing bankruptcy offers consumers a potential way out in even the darkest financial situations, but knowing if you’re eligible to file Chapter 7 Bankruptcy forms can be confusing. Chapter 7 is referred to as a ‘straight’ bankruptcy, as opposed to Chapter 13, which is a repayment plan. Most secured assets and debts, such as mortgages and vehicles, can survive through the filing, whereas most unsecured debts (credit cards, lines of credit, or department store credit cards) are discharged. Some debts, such as student loans, child support, and tax related debts, are not eligible to be discharged through Chapter 7 Bankruptcy forms.
Are You Eligible To Fill Out Chapter 7 Bankruptcy Forms?
Each court district has its own legislation and rules about filing Chapter 7 Bankruptcy forms, including income level thresholds, eligible and ineligible debts, and protected assets. It’s important to fully research and be aware of your particular state’s regulations for the proper completion of the documentation. To find out if you’re eligible to file, debtors must complete a ‘means test’ which is formulated to weed out potential abusers of the system. This test considers the consumers income level and debt totals to determine if a debtor has means other than bankruptcy to satisfy what they owe.
Federal law now requires that within 180 days prior to filing Chapter 7 Bankruptcy Forms, you must complete a course provided by either a credit counseling agency or a nonprofit agency. The course is about teaching financial management, including debt payments, budgeting, and the consequences of bad credit. This is thought to better educate the public about managing credit responsibly, and setting up a budget for a more prosperous future. In order to file Chapter 7 Bankruptcy forms, you may not have filed for the same process within the past 8 years. Lastly, you must also be a resident of the United States (but not necessarily a citizen or legal resident.)
If you’re not sure if you would qualify for completing Chapter 7 Bankruptcy forms, We The People can help. Many of our stores can provide you with a free Means Test to be sure you qualify to file for Chapter 7 Bankruptcy. Our trained staff members can assist you with completing the Means Test, evaluating your situation, offer you trustworthy educational resources, and assist you in preparing the Chapter 7 Bankruptcy forms.
Call or visit your local We The People store to find out how we can help you navigate through this difficult journey.
We The People is a debt relief agency.
We help people file for relief under the Bankruptcy Code.
Some services may not be available in all locations.
December 5, 2019
Avoiding Bankruptcy
Avoiding Bankruptcy
Services
Tips to Avoid Filing for Bankruptcy Due to Medical Bills
Tips for Avoiding Bankruptcy:
- Make a Budget. Include all possible expense. Once you know what your expenses are, you will be able to better allocate your financial resources and save yourself unnecessary panic and stress when the bills arrive.
- Control your overall spending. Especially when money is tight. One easy way to do this is to ask yourself whether your intended purchase is a ‘need’ or a ‘want’. This often helps eliminate some unnecessary purchases.
- Pay with cash. It prevents the overspending that you may not even notice when you use credit cards. The concept is simple: withdraw a certain amount every two weeks or monthly, and when you are done once you are out of funds. Further, only carry a certain amount in your wallet or purse every day. It will help bring some financial discipline in your life.
- Be prepared for unexpected expenses. One of the biggest mistakes you can make is not to prepare for unexpected expenses, such as an accident or sudden illness. It can happen to anyone at any time. Which is easier, to put aside a small amount every month, or have to cough up the entire sum all at once?
- If you find yourself filing for bankruptcy in spite of doing all this, get the right professional guidance. Navigating the do’s and don’ts and putting together bankruptcy paperwork can be confusing and overwhelming. But if gives you a second financial chance. The most important thing is knowing how to go about the process.
We the People can have you complete a free eligibility questionnaire (also known as the “means test”) to determine whether or not you qualify.
We do not offer legal advice but can act as your Bankruptcy Petition Preparer.
This includes:
- Providing you with information and resources about personal bankruptcy filing.
- Assisting you in completing the forms to court standards and
- Helping you file them properly.
Get started on filing for bankruptcy today. Find a local store near you or make an appointment for your free consultation to learn more about bankruptcy paperwork today.
Click here for answers to your commonly asked questions about personal bankruptcy.
We The People is a debt relief agency.
We help people file for relief under the Bankruptcy Code.
Some services may not be available in all locations.
Contact your local store for availability.
