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LaPlace Means Test
Bankruptcy Lawyer in Metairie, Covington & LaPlace
Before you can file for bankruptcy, you must determine which type is best for you. Chapter 7 bankruptcy is for individuals or families who cannot afford to make any payments back to their creditors whatsoever, while Chapter 13 bankruptcy allows for some minimal payments to be required. The means test is a uniform formula that is applied to everyone who files for bankruptcy, meant to standardize the bankruptcy process, reserving Chapter 7 only for those who need it most.
The means test can be complicated and the paperwork cumbersome, so contact a Metairie bankruptcy lawyer today to crunch the numbers for you.
Big Easy Law Group is able to guide you through your means test process and will make sure you choose the plan that is right for you. Our attorneys will always provide you with unmatched personal service, making sure your needs are met and your questions answered. After your means test is complete, our lawyers will also aid you with your credit restoration and put an end to any creditor harassment you may still be experiencing. After serving hundreds of clients every year, our firm is ready to ready to advise you on making the best choices during this difficult financial time.
The Two-Step Process
Completing the means test is a two-step process that your LaPlace bankruptcy attorney will know how to navigate. Step one is a median income comparison, which calculates your yearly family income and compares that to the median income in your state for a family of the same size. The median family income will vary depending on where you live, and your bankruptcy lawyer will be able to tell you if you fall above or below the number for your area.
If you land above the median income, you continue on to step two, which is calculating disposable income and unsecured debts. This process determines how much, if any, disposable income is available to be paid back to your creditors. Though it may sound daunting, our attorneys will make sure you understand everything and find the right financial plan for you.
Contact a LaPlace lawyer to find out what kind of bankruptcy is right for you. Our bankruptcy attorney can serve clients in Mandeville, Covington, and St. Tammany Parish and the surrounding areas.
What Our Clients Have to Say
Testimonials-
“Very helpful from the very beginning. They answered all my questions and were great at helping me after the bankruptcy was accepted and I was receiving emails from credit cards. I'm glad I chose them ...”
- Laura V. -
“My case was handled very professionally. I was treat very well. All my questions were answered quickly and Jenny always returned my calls and emails quickly. All my fears and nervousness were put at ...”
- Former Client -
“I am so incredibly grateful to Bryce Murray for all he has done. I was in tears the day that I reached out to this law group, afraid for the future and my family. But thanks to him I have been filled ...”
- Selena D. -
“Jenny you’re amazing. You helped me through one of the most difficult times in my life..I can’t thank you enough for standing by us through all the ups and downs of our case. Best wishes to you and ...”
- Lawrence G. -
“Love Jenny!! She is so knowledgeable about the ins and outs of the whole process and makes everything a lot less scary, and on top of that is just a sweet lady! Highly recommend!”
- Brett P.