Vectors and 3D Models
Local Search - Finance
Weather Information
Get the App for Smartphones and Tablets

Go Back

WhmSoft Free Articles Directory
Free Articles for Reprint
Free Articles to Publish
Free Articles for Newsletters
Videos to Watch

Page Generation Date and Time:
09/20/2020 19:51:47

Free the Animation VR / AR
Play to reveal 3D images and 3D models!
Demonstration A-Frame / Multiplayer
Android app on Google Play
vlrPhone / vlrFilter / vlrMemos
Project of very low consumption, radiation and bitrate softphones / Multifunction Audio Filter with Remote Control / App to measure the quality of the voice!

Alexa Data

Go To Articles Directory Home Page

To get the current article, - See Below (at the bottom of the page) -.
For top news titles, see below.
Web sites and videos listed in this page are frequently updated.
If you find that this page is useful (quality of web sites, images and videos, ...), you can add it to your favorites.
Bookmark Page !

Tell a Friend:

With your mobile phone (WAP / I-Mode / iPhone / PDA), for free:
The Top News -
The Daily Files -
All the Directory Files -

Web version of feeds:
Podcast Music -
Daily Files -

You can play the Guitar Drum Revolution game (flash game) by following the link below:
Play Guitar Drum Revolution Game

You can play free online games (flash games) by following the link below:
Free Online Games

Play the samples below:
Aline Prend Un BainPuzzleSnowball Pinball 2CronchMahjongg Artifact 2

You can view the people (celebrities) news and the front page news (with videos, images and constant updates) by following the link below:
View Recent News
or by visiting the WhmSoft Service blog:
News Photos Slideshows

Article Keyword Videos to Watch
Click on the image to start the video.

Related Topics
Images - Links - Articles

Los Angeles

Related Images

Article Category Videos to Watch
Go to the Videos Pages

What Is A Means Test Under Chapter 7 Bankruptcy?

In the recent years, bankruptcy has become the only way out for many people suffering unbearable debts. According to the US law, a business, partnership, a corporation or an individual like you and me, can seek relief from debt under Chapter 7 of the bankruptcy law.

Last year on October 17, 2005, a new bankruptcy law was passed and a means test was introduced. It determines whether you are eligible or not to file under Chapter 7. The point behind the means test is to determine whether you have enough money left to pay back some of the money you owe to your creditors or not, after all your allowed living expenses are taken in to account.
It is calculated by subtracting an IRS allowed living expenses from your monthly income.

If your income after the calculation shows to be lower or equal to the median income of the state you live in, you will most probably be allowed to file under Chapter 7.

However, if your income happens to be larger then median income of the state you live in then your average income for the past six months will be taken in the consideration, or might be forced to file under Chapter 13 of the bankruptcy law.

Some of the expenses taken in the consideration are:

1. Utilities

2. Food

3. Clothing

4. Gas and transportation bills

5.Mortgage loan

6. Car loan

7. Child support

8. Taxes

If on the other hand after subtracting all of these expenses, you have at least 00 left over to pay back to your creditors (the unsecured ones) in the next 5 years you will be forced to file for Chapter 13 instead.

Also under the 2005 bankruptcy law, you will need to file all your overdue tax returns if you want to apply for Chapter 7.

In case that during the 180 days of proceedings your application happens to be dismissed because of the willful failure on your side to comply with the court orders you will be denied filing for bankruptcy under Chapter 7.

Also in case that you as an debtor have dismissed the previous case of your own free will, after your creditors have required relief through the bankruptcy court, your petition will also be denied.

2005 bankruptcy law has brought along one more important change, as an individual you are now obliged to obtain credit counseling from a certified counselor before you can file for Chapter 7 bankruptcy.

The purpose of credit counseling is to educate you and help you reorganize your financial affairs. If you are serious about filing for Chapter 7, you have to provide the court with debt management plan you have developed during credit counseling, within 180 days prior to filing for bankruptcy.

About the Author: is dedicated to help you live and debt free life. Visit us and learn all you need to know about Chapter 7 Bankruptcy Law.

Recommended Web Site(s):

Easy Articles Home Page - Articles Directory

Recommended WhmSoft Web Sites, Feeds and WAP Address:

WhmSoft Software Home Page - Software
WhmSoft Services Login Page - Music and Images
WhmSoft Moblog Home Page - Blog - Photo Gallery
WhmSoft Free Online Games Home Page - Flash Games
WhmSoft Services RSS Feed - Daily Music, Image and 3D Flash Animation
Classical Music with Drum RSS Feed - MIDI and MP3 Files
Classical Music with Drum Podcast Feed - MP3 and MP3 Files
WAP / I-Mode / PDAs - Daily Music, Image and Flash Animation

Home Pages:

WhmSoft Free Articles for Reprint Home Page
WhmSoft Services Home Page - Music and Images
Copyright (C) 2006-2020 WhmSoft - All Rights Reserved.