Chapter 7 Bankruptcy in Phoenix

Phoenix Chapter 7 Bankruptcy Lawyers

Since 2005, filing a chapter 7 bankruptcy has become a bit harder than it was prior.  Now, chapter 7 bankruptcy is not always guaranteed.  Back in 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act or BAPCA. The “bankruptcy abuse” to which the title of the act refers was primarily in regard to the large amount of chapter 7  filings.

Chapter 7 filings prior to 2005 had a fairly minimal level of qualification, the lack of qualification led to bankruptcy abuse.  To prevent excessive use of chapter 7, Congress created several new qualifications, including a credit-counseling requirement that has to be completed by anyone wanting to file chapter 7 bankruptcy.

One of the other qualifications created is the Chapter 7 means test.  To file a chapter 7 bankruptcy now, you have to pass one of two tests in order to qualify to file.  The tests are collectively called a bankruptcy “means test”.  You must pass one of the 2 tests to qualify for chapter 7 bankruptcy filing.

Contact one of our Phoenix bankruptcy lawyers from Wright & Associates and find out if you meet the requirements for chapter 7 bankruptcy.  Our law firm offers a free bankruptcy consultation and debt evaluation in which one of our debt relief experts will administer the bankruptcy “means test” and determine if you qualify for chapter 7 bankruptcy in Phoenix.