The entire Chapter 7 bankruptcy process typically takes about 4-6 months from filing to discharge. However, the timeline can vary depending on the complexity of your case.
FAQ Tag: Chapter 7 Bankruptcy
What is the Chapter 7 means test?
The means test determines if your income is low enough to qualify for Chapter 7 bankruptcy. It compares your income to the median income in your state. If your income exceeds the limit, you may need to consider Chapter 13 bankruptcy.
What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy involves liquidating non-exempt assets to pay off debts. It’s often a faster process, ideal for those with limited income in Flint, MI, or other locations we serve. Kostopoulos Bankruptcy Law can help you determine if Chapter 7 is the right solution.