Do You Qualify for Chapter 7 Under New Bankruptcy Laws?
Posted by Iris Smith on September 16, 2011Chapter 7 has long been a preferred debt relief option because this bankruptcy chapter allows debtors to have most debts discharged without restitution. However, in 2005 new bankruptcy laws took effect which has made it considerably more difficult to qualify.Today, Chapter 7 is typically only available to petitioners earning less than their states’ median income [...]