florida, bankruptcy, services, paralegal, attorney, petition, preparer, document preparation, chapter 7, chapter 13, loan modification, pinellas, hillsborough, pasco, manatee, tampa bay,
  Home  

Same Day Service for Emergency Filings

    Site Map
             

Our Fees & Services

email

 

 

     

 

                   

Welcome!

   

Emergency Filings Welcomed
Stop Wage Garnishments,
Lawsuits, Foreclosures

 

It's a good day to

 

 

 
get out of debt!      
                   
Attention  .  .  .  on December 1, 2015  new bankruptcy forms go into effect.  The changes are extensive but no worries - our bankruptcy software automatically updates all changes in bankruptcy law including the forms.
                   
                   
       

What Is The Means Test.

Under the bankruptcy means test, your Current Monthly Income (CMI) is compared against the state's median CMI to determine if you are eligible to file for chapter 7 or chapter 13 bankruptcy.

CMI is the average monthly gross income earned in the six month period prior to filing for bankruptcy. Included in CMI are financial gifts or assistance from family members, income from a non-filing spouse, income from all job sources, and any income from a closely held business. Social Security income and business expenses are excluded from CMI.

When CMI Exceeds Florida's Median Income
When a person's CMI exceeds the state's median income, a number of deductions can be claimed and applied against CMI. Here, a complicated formula is used to deduct certain expenses from CMI in order to determine a person's Net Monthly Income. The formula employed assumes NMI indicates the amount of money a person has each month to pay off creditors.

While there are specific requirements surrounding each, the following expenses are deducted from CMI when determining NMI:  housing, living costs, cost of transportation, private school tuition, alimony and/or child support, child care, medical expense, federal tax withholding, internet and phone service costs, health savings accounts.

Our bankruptcy software makes all the calculations - not us.  Should you still not pass the Means Test after all deductions are applied then we will refer you to a trusted attorney to represent you because it is inappropriate for anyone who is not a licensed attorney to represent a client in a chapter 13 bankruptcy because it is very complex.

Disposable Income.
Please note that it is possible to pass the Means Test and still not qualify to be in a chapter 7 if you have too much disposable income.

 

 

 

 

 

 

 

 

 

 

 

                  

Important Info & Links  
List of documents we need  
Our questionnaire (pdf)  
Free Credit Report  (FTC site)  
Pre-filing Credit Counseling  
Filing Fee Waiver  
       
Chapter 7 Bankruptcy  
What is Chapter 7  
Chapter 7 Timeline  
Top 10 Mistakes  
What is the Means Test  
Chapter 7 vs. Chapter 13  
What is Chapter 13  
How the court values vehicles  
Silly Bankruptcy Notions  
Credit After Bankruptcy  
       
FL Bankruptcy Courts  
Northern District  
Middle District  
Southern District  
Trustee  Required Doc List  
       
FAQ  
Should I File Bankruptcy  
Will I Lose My Stuff  
Taxes and Student Loans  

Can One Spouse File

 
Bankruptcy and Divorce  
       
Know Your Rights  
Fair Credit Reporting Act  
Fair Debt Collection Act  
New Credit Card Rules  
Fair & Accurate Credit Act  
       
Debt Collection  
Worst Debt Collectors  
Worst Debt Buyers  
       
Free Legal Resources  
Bankruptcy Basics  (pdf)  
Local Court Rules  (pdf)  
US Bankruptcy Code  (pdf)  
More Free Legal Resources  
Bankruptcy Glossary  
       
       

Our Location

 
2808 Beach Blvd So. #9  
Gulfport, FL  33707  
(727)  322-5881  
       
       
       
       
       
       
       
       
       
       
                 
                 
                 
           

Copyright 2003 - 2016 
Florida Bankruptcy Services
All Rights Reserved