Did the Means Test get easier?
The means test is a method of determining a person’s eligibility to maintain a chapter 7 case. It plays a major role in determining if a person can file a chapter 7 bankruptcy or must file under a different chapter of the bankruptcy code.
On March 15th the New York median household income increased. This allows those looking to file for chapter 7 bankruptcy to make a little more money, but still pass the means test. Generally, what is meant by passing/failing the means test:
Passing the means test = you can likely file a chapter 7 bankruptcy.
Failing the means test= you likely won’t be able to file a chapter 7 bankruptcy.
So, this increase should allow more people to pass the means test.
This is good news! However, the above is all very general information. You should discuss your specific situation with a knowledgeable bankruptcy attorney before deciding to file, or not file for bankruptcy.
We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
“I should have done this sooner.”
Recently, we have had more and more individuals come into our office who have tried to alleviate their debts by hiring a debt consolidation, debt resolution, debt settlement, or some other “get rid of your debt quick” company. Many of them have paid thousands of dollars to these companies. Most of them have only had one or two, if they’re lucky, debts actually settled. After we explain how bankruptcy works and the client decides that filing bankruptcy is in their best interest, they almost all say “I should have done this sooner.”
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So, if you’re feeling overwhelmed by your bills and debt collectors are ringing your phone off the hook , it would be wise to obtain a free consultation from a bankruptcy attorney before you hand over what little money you do have to some company with a fancy commercial and/or website.
We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501.
Call (516) 858-2620 to arrange a FREE consultation with a bankruptcy attorney!
Recently we have run into some questions regarding service in Landlord Tenant actions. Proper service of legal papers is required in order to preserve your constitutional rights. In order to dispute service of papers commencing an action, either before a default judgment is entered or after a judgment has been entered, the disputing party should appear in court on the appearance date of their contesting motion. The appearance is necessary to give direct testimony and provide the evidence necessary to win a traverse hearing. If you have questions concerning any aspect of such a challenge, feel free to call our office at (516) 858-2620!
This year, much to our delight, several of our foreclosure defense clients have received acceptable loan modification offers from their respective lenders. What’s most pleasing is that these clients had been rejected, on several occasions for some, or they were previously offered an unacceptable, unaffordable loan modification.
Last year, we found loan modifications hard to come by. In one case, we found serious problems with a major lender’s foreclosure paperwork. We requested a loan modification or dismissal of the foreclosure action with prejudice. However, rather than give our client a loan modification, the lender chose to discontinue their foreclosure action against him. Not a bad result at all, but our client really wanted a loan modification. As of today, the lender has not restarted the foreclosure action and a loan modification is being considered.
As always, The Law Firm of VAUGHN & WEBER, PLLC is here to assist you. We are conveniently located in the heart of Nassau County, Long Island, at 217 Willis Avenue in Mineola, NY 11501. Contact us at (516) 858-2620 to arrange a consultation.
Please visit our Foreclosure category to learn more about foreclosure issues.
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