In Need of Filing Bankruptcy… Again?
September 2, 2015
Qualifications for filing bankruptcy are always changing. We often have clients who call claiming they know that they are eligible to file because they either know someone who has filed, or they have filed before. There are allowed maximums of income, expenses and exemptions when it comes to filing Chapter 7 bankruptcy. Our economy is constantly fluctuating, and the Federal Government changes the maximums according to the present economy, whether that is lowering the allowances or raising them. That is why we recommend calling an experienced attorney when you are inquiring about bankruptcy.
Here at your local Utica bankruptcy law firm, we are always here to help you in any way that we can. Currently, under federal law, a person is only allowed to file for Chapter 7 bankruptcy once every 8 years. If you have already filed before but your 8 years isn’t up, and you are not eligible to file again yet, give our office a call anyways. We can help guide you in the right direction and protect you from creditor calls. We will give you advice on how to keep your money in your own pockets until you are eligible to file once again.
If you have previously filed, and are indeed eligible to file again, the process is going to be different from the last time you filed. In 2005, a major bankruptcy reform went into effect known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. The reform established qualifications and requirements that were more strict in regards to filing for Chapter 7 Bankruptcy. This included allowable income maximums, document verification, and credit counseling courses. The process is no longer as simple as it was before the reform, but our office has come up with a way to make it as simple as it can be for our clients.
We have always held a 100 percent success rate when it comes to bankruptcy. Every bankruptcy case we file, we receive a discharge for. We are careful to make sure we cover everything so that we can achieve the best results.
We are also here to help if you have never filed bankruptcy before and you want to know the qualifications. You can call us to find out if you qualify, we will screen you and give you a free consultation right over the phone. Even if you really don’t want to file, but you are struggling financially, give us a call anyways! We will advise you on the best route to take for your financial situation. If bankruptcy is indeed your best option, we will not only walk you through the process but we will provide you with advice on what to do so that you can avoid ever being in the same predicament again.
Sometimes life hits us hard with situations that are out of our control, and filing for bankruptcy is something that you might need to do more than once in your lifetime. It is a financial decision and we are here to help you decide if Chapter 7 bankruptcy is the right option for you, whether it is your first or second time filing.