San Diego Bankruptcy Qualifications

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Information on Bankruptcy Qualifications

In recent years, drastic changes were made to the bankruptcy laws in the United States. These changes were perceived by the public to make it more difficult for individuals to file for bankruptcy. This is not the case. It is still possible to file for bankruptcy, though the process may be more confusing than it used to be.

Chang & Diamond, APC is focused solely on representing individuals in bankruptcy proceedings. We are skilled advocates who are able to explain each and every step of the process to our clients in a way that makes it easy to understand and puts them at ease.

“This was the best experience I could have imagined with a Bankruptcy Attorney. I had been ill and Chang & Diamond took care of everything for me. They went far and above the course of duty to make this an easy process. I didn’t know a law office would actually take the time to be so courteous to take a personal interest. I would recommend Chang & Diamond to anyone who has bankruptcy needs. The entire office was exceedingly kind and efficient.”

Determining if a client is eligible to file for bankruptcy is a sophisticated and complex process. Our law firm examines all aspects of your situation to determine if filing for bankruptcy is in your best interests. We then take you through the many different qualifications there are for bankruptcy, including determining the extent of your debt, your income and your ability to repay on the debts.

“After many months we were able to file. I want to thank Jason for his help all these months, he was awesome! I also want to thank Alison! She rocked the creditors meeting! Thanks again to all of you for your hard work and dedication!”

The Means Test

One of the qualifications for filing for Chapter 7 bankruptcy is passing the Means Test. The Means Test is an analysis of a potential debtor’s living expenses to determine whether a bankruptcy candidate has any disposable income with which to pay back all or part of the underlying debt. If there is enough disposable income, the individual will have to file for Chapter 13 and pay back anywhere from part to all of the debt.

It is important to know that the Means Test, while it sounds simple, is actually an extremely complicated formula that requires the attention of an attorney who has experience with the Means Test. It sometimes requires the input of an accountant or money management expert.

To learn more about the qualifications one must possess to file for Chapter 7 or Chapter 13 bankruptcy, get in touch with the Experienced Bankruptcy Attorneys of Chang & Diamond, APC. Contact us today to schedule your free initial consultation. Our firm has Spanish-speaking staff members to assist you.

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