Bristol Chapter 7 Bankruptcy Attorneys
Many Bristol residents continue to struggle with reduced real estate values and high interest consumer debt. Our Bristol, Connecticut law firm is dedicated to helping people resolve creditor harassment, default notices, late fees, interest penalties, and other debt problems through bankruptcy and other debt relief measures. If you are looking for solutions to your debt-related difficulties, talk with a lawyer at The Law Offices of Neil Crane, LLC. If you find yourself falling behind on monthly payments, a properly prepared and filed Chapter 7 petition can protect your assets and provide the relief necessary to obtain a financial fresh start.
Contact an experienced Bristol Connecticut chapter 7 bankruptcy lawyer at The Law Offices of Neil Crane, LLC, to learn your debt relief options. From offices in Hamden, Bridgeport, Waterbury, Rocky Hill, and Ridgefield, we provide Chapter 7 bankruptcy services and other debt relief solutions to clients throughout Connecticut.
Bristol Attorneys Helping You Obtain Legal Debt Relief and Stop Creditor Harassment
Chapter 7 bankruptcy debt relief completely discharges almost all forms of unsecured debt - allowing people to eliminate all types of unsecured debts, such as:
- Credit card debt
- Medical bills
- Lawsuits, judgments and garnishments
- Old apartment rent payments
- Personal unsecured loans (loans not secured by collateral)
- Many types of older tax debt
- Other debts
Full Relief Under the New Income Guidelines of Chapter 7
With the proper legal counsel, Chapter 7 protects assets like homes and cars as it eliminates unsecured debt. The first step in examining families for Chapter 7 relief is an analysis of household income from all sources over a trailing six month period in order to properly evaluate the new qualifications for a Chapter 7. This six-month income, doubled, is the designated “household annual income” for purposes of determining eligibility for "automatic" Chapter 7 relief and the full discharge of all unsecured debt with no repayment. Annual income levels are categorized by family size. Family size is determined by the number of dependents listed on the prior year's tax return. In Connecticut, the numbers by family size are approximately:
- Family of 1 - $60,000+ Family of 2 - $ 72,000+
- Family of 3 - $87,000+ Family of 4 - $104,000+
- All additional individuals - $7,500 per person
- These numbers are adjusted in accordance with IRS numbers, every six months
Means Testing to Qualify for Full Chapter 7 Relief
For families who are over these median numbers, the 2005 law requires a Means Test. This is a somewhat complicated analysis of your household income and allowable expenses over the past six months. It utilizes standard amounts for "allowable deductions" on certain expenses and an override for "actual deductions" for certain special types of monthly expenses, such as mortgage payments, car loans, support obligations and other more important household expenses.
At the Law Offices of Neil Crane, we know how to use all the intricacies of the new law to maximize utilization of both elements of the examination, "household income" and "allowable expenses." The rules are complicated and extensive, but they are critical to full Chapter 7 relief. Chapter 7 means testing requires dedicated lawyering and full implementation of the rules and nuances of the new means testing regulations.
Even people who do not qualify for Chapter 7 bankruptcy will still qualify for Chapter 13 bankruptcy. At The Law Offices of Neil Crane, LLC, we can help make sure you enjoy all the relief possible under the new laws.
Talk With Us About the Benefits of Filing for Chapter 7 Bankruptcy
Because your financial relief is our highest priority, we do not use voice mail. Every call placed during normal business hours is answered by a live person. If an attorney cannot speak with you immediately, your call will promptly be returned by an attorney experienced in all forms of debt relief and Chapter 7 “means testing.”
To learn the benefits to filing Chapter 7 bankruptcy, please call us today at 203-230-2233 or toll-free 1-888-249-3027 to discuss these benefits with an experienced attorney. You may also complete our online contact form.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.