A Friend Of The Family ™ For Over 15 Years
Practice Areas
Debt Negotiation Foreclosure Defense Consumer Bankruptcy

Myth: New Laws Make It Harder to File for Bankruptcy

While the bankruptcy options available to some filers have become more limited, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) does not necessarily make it any more difficult to file for bankruptcy. Rather, most high-income bankruptcy filers are no longer be eligible to file for Chapter 7 bankruptcy and likely must file for Chapter 13 bankruptcy instead.

If you live in Cincinnati and have considered filing for bankruptcy, you should speak with a Cincinnati bankruptcy lawyer at Ryan J. Ruehle Attorney at Law, LLC to learn more about how these laws may affect you.

Helping Cincinnati Filers with the Means Test

As a central aspect of these new laws, you will need to compare the disposable income you bring home every month with the average income of comparable households in the state. With the means test you will be able to determine whether you are eligible to file for the following forms of bankruptcy:

  • Chapter 7
  • Chapter 13

Should your monthly disposable income be above the state average for comparable households, you will likely need to file for Chapter 13 bankruptcy relief. If your monthly income is above the state median, you may still be able to qualify for Chapter 7 by passing a stringent means test.

Consult with Bankruptcy Attorneys in Cincinnati

If you live in Cincinnati and are considering filing for bankruptcy, you should speak with the Cincinnati bankruptcy lawyers with Ryan J. Ruehle Attorney at Law, LLC at your earliest convenience. To learn more about the options you may have when filing for bankruptcy in Cincinnati, please call our offices at (513) 621-0999 to speak with a Cincinnati bankruptcy attorney today.

Search our Site