Disposable income an overview – Warner Robins Georgia bankruptcy lawyer
Macon bankruptcy lawyers
You shall not be allowed to file for Chapter 7 if you cannot satisfy some new conditions imposed by the 2005 changes to the bankruptcy rules. According to these changedrules, you cannot file for Chapter 7 if both of the following are true:
Your current monthly income over the six months prior to your filing date is higher than the median income for a home of your size in Georgia.
Your disposable income, after deleting certain expenses and monthly payments for debts you would have to repay in Chapter 13, exceeds certain limits set by statute. The calculations are commonly called as the “means test”. When you have the ability to pay back a certain amount of your debt through a Chapter 13 repayment plan, you fail the test and cannot file for Chapter 7 bankruptcy.
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Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA
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