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The Means Test was part of the Bankruptcy Reform Act of 2005. Its purpose was to devise an income test to determine eligibility to file a Chapter 7 bankruptcy. The means test is a backward looking test which averages the Debtor’s income over the six month period prior to filing the case.
It compares that income [...]
We just saw an advertisement for a debt solutions center that promises to settle your debts for pennies on the dollar. Many of these agencies are hogwash!
What they do is have you pay in hundreds of dollars a month, charge huge fees, and then occasionally get a creditor to accept a lump some payment for [...]
Let’s face it, no matter what our political leaders are saying – the economy doesn’t seem to be getting much better in Michigan.
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For many, making sense of their financial issues and deciding on how to solve them is confusing.
Not only are we facing layoffs, reduced wages and escalating gas prices. These [...]
It’s tough to figure out what to believe when your finances are stressing you to overload. Debt collectors often stretch the truth or outright lie to intimidate you. Debt collector lies about bankruptcy can usually be broken into two broad types – TYPE A and TYPE B.
DEBT COLLECTION MISTRUTH -TYPE A: “We’ve researched your financial situation, [...]
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