Income figures heavily into the ability to file Chapter 7 bankruptcy. As the filer's income is compared to the state median, something called the means test allows filers to justify the need to file even with a higher income level. This is not just a routine part of the bankruptcy paperwork — it's a make-or-break deal. To find out more, read on.
What Is the Means Test?
The bankruptcy code underwent some changes in the last several years aimed at preventing wealthy people from shedding debt by filing bankruptcy.
If you have experienced a job loss either through downsizing or maybe due to a health condition, it can be very difficult to pay your bills. This could lead to getting behind and into serious debt. For some people, the debt is so serious they consider declaring bankruptcy so they can get a fresh start in their financial life without the threat of creditors.
Bankruptcy should always be a last resort when in financial straits, but you shouldn't go it alone.
Drinking and driving has claimed the lives of a large number of Americans, and interlock devices have been put in place to make sure that drivers do not find themselves in accidents by requiring that they prove that they are not intoxicated by using the interlock device. However, this device might also lead to a car accident.
The Risks of an Interlock Device
One of the concerns with the interlock device is that the driver will attempt to bypass the device.
You might find yourself in contact with a taxing authority regarding your back property taxes. If this is the case, you will always want to speak to a property tax attorney for advice. Otherwise, you might find yourself confused by the laws regarding property taxes and may make a mistake that can cost you a considerable amount of money.
The Consequences of Not Paying Your Property Taxes
If you do not pay your property taxes, you might find yourself in foreclosure if your property taxes are 20 years old or less.
After a divorce, one parent may have to move far away from the other. This means that one parent may be living far away from their children so that they can work or pursue educational opportunities. This can complicate matters, especially if both parties have child custody or visitation.
Are you ready to learn more about building a parenting plan even if one party works far away from another? Here's what you need to know.