Tag Archive for: income

The Importance of Gathering Documents in a Timely Manner When Filing for Bankruptcy

Why You Need to Gather So Many Damn Documents When a client retains me for a bankruptcy consult, they need to gather quite a bit of information in order for me to file their petition.  The bankruptcy Trustee looks at the last six months of household income in order to determine if the debtor(s) fall […]

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Estate planning after divorce

Going through a divorce or dissolution can be a tedious, time-consuming, and emotional process. Receiving the final decree can feel like a huge relief; however, there is another important thing to consider after your divorce is final. Planning for your future changes dramatically after your marriage ends. For those who already have wills, powers of […]

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Forensic Accounting

Divorce is never a pleasant process – it involves a lot of emotion and a struggle to reach compromises. Many times, these heightened emotions and an increased stress level can lead to disagreements and mistrust when it comes to the family’s finances. Often times during a divorce process, there is a spouse who is less-aware […]

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Valuation Services: How much do you actually have?

When an individual files bankruptcy, there is often a dispute between the debtor and his creditors as to how much money the debtor actually has available to pay off his obligations. In these situations, a bankruptcy court (or the individual debtor) may implement a valuation service to determine the worth of assets from an objective […]

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Income Considered When Determining Eligibility for a Chapter 7 Bankruptcy

What income does the court consider when determining a debtor’s eligibility for filing a Chapter 7 Bankruptcy? Any income that a debtor receives other than social security or social security disability income will be considered by the court in the means test.  Very, simply put the means test is the method of calculating your average […]

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Reasonable and Necessary Expenses in a Bankruptcy

Why a court looks at a debtor’s expenses. Two things that a bankruptcy court looks for in a bankruptcy petition are a debtor’s income and expenses. This is important because in order to file a Chapter 7 the debtor must make less than a determined amount for his/or her family size or be unable to pay a minimum […]

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Preparing to File Bankruptcy

Once you have decided to file bankruptcy there is what may seem like a lot of information that your attorney will need from you, both in questionnaire form and in document form. Even if you have not decided to file for bankruptcy yet, but you want to expedite the process if and when you do decide […]

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Bankruptcy and Divorce

Divorce or Bankruptcy-which comes first? Unfortunately, in many circumstances divorce and bankruptcy fall hand in hand. Couples often decide to end their marriage due to financial difficulty and the question becomes should you file bankruptcy before you file for divorce or petition for dissolution or vice versa. The answer really depends on your response to the following […]

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