Law Offices of Dennis McPherson

We have all had our ups and downs financially. But there is a way to start clean. I tell my bankruptcy clients usually the same thing, "If you don't see yourself getting out from under your debt on your own in the next three years? Then Bankruptcy may be the answer."

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Both First Time Chapter 7 and 13 Petitions Stop all Collection Activity

Subsequent Filings are subject to various limitations which require expert legal advice

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Chapter 7 Petitions can be filed by individual persons,jointly by a husband and wife,or in the case of a business

in the name of the business. For individuals and married couples the law requires than a means test be met which involves factors such as income or lack, everyday expenses, number of persons in your household etc. Your income basically has to be exceeded by your monthly expenses prior to paying the debts you wish to discharge. And that your monthly combined incomes for the number in your household not exceed the limits set for your particular state of residence. Once you are determined qualified to file a Chapter 7 then you can discharge most all your debts with corporate creditors.

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Chapter 13 Petitions can be filed by individual persons and jointly by a husband and wife. Commonly used to catch up payments on houses,cars and other secured loans to avoid losing the property.

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