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Bankruptcy Means Test

Bankruptcy Means Test in Texas: Do You Qualify for Chapter 7 Bankruptcy?

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The bankruptcy means test is a key step in determining whether you qualify for Chapter 7 or Chapter 13 bankruptcy in Texas. Designed to ensure that only those who truly need debt relief can file for Chapter 7, the test evaluates both your income and allowable expenses. If your income falls below the state median, you may qualify for Chapter 7, which discharges most unsecured debts. If your income exceeds the threshold, you must pass a disposable income test, or you may need to pursue Chapter 13, which involves a repayment plan.

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Biden’s $1.2 Billion Student Loan Debt Forgiveness Program: How Do I Know If My Student Loans Will Be Forgiven?

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President Joe Biden’s administration has announced a significant move to forgive $1.2 billion in student loan debt relief, sparking discussions on who will benefit from this substantial relief. This article explores who can benefit from this policy and its broader implications. Targeted Relief for Defrauded Students Biden’s student loan forgiveness is for students defrauded by

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Signs You May Need To Consult a Bankruptcy Attorney

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Financial problems can be overwhelming and confusing. It can debilitating making it difficult to determine the right course of action. For many people, the thought of bankruptcy conjures feelings of failure and hopelessness. However, bankruptcy is a legal tool designed to provide relief and a fresh start for those facing insurmountable debt. Recognizing the signs

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What Happens to My House When I File for Bankruptcy in Texas

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Filing for bankruptcy is a significant decision that can have profound effects on your finances and assets, including your home. In Texas, the rules surrounding bankruptcy and home ownership are unique and can be complex. Understanding how your house is affected when you file for bankruptcy in Texas is crucial for making informed decisions. Types

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When to Seek Legal Advice For Unmanageable Debt

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In an age where credit is easily accessible and consumerism is ever-present, many individuals find themselves facing escalating debts. While some debt can be managed with careful planning and budgeting, there are situations where seeking legal advice becomes imperative. Knowing when to consult with a legal professional can make the difference between financial recovery and

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We are a federally designated Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt and credit problems, including, where appropriate, assisting them with the filing of petitions for relief under the United States Bankruptcy Code. The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.