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Did you know that the US Trustee's office introduced new median income information on April 1, 2013?
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The median incomes have gone up on all categories and could mean the difference between filing chapter 7 and a chapter 13! A chapter 7 is known as a liquidation while a chapter 13 bankruptcy is a payment plan. If you were trying to get out of debt as fast as possible which one would you choose?
Let me know if this works. I can't wait to see what happens.
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Secondly, the new schedules contain higher expense allowances which reduce the amount of disposable income for those who have no choice but to file a chapter 13.
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For those exploring bankruptcy this is good news and will help more people get out of debt faster and for the least amount of money possible. To discuss the specifics of your case contact a knowledgeable bankruptcy lawyer. 410-849-9529.
This information is provided for informational purposes only. No attorney-client relationship and/or privilege will result from consumption of this information.