New bankruptcy laws

As per the new bankruptcy laws, an individual who has filed a Chapter 7 bankruptcy cannot do it again for a minimum of eight years, from the date of discharge. So, Individuals must compare there current monthly income with that of the average income for a family of the same size, in the state in which they live. Current monthly income is defined as their monthly average income over the six months previous, before actually filing. Everyone except individuals whose debts stem mostly from business operations and disabled veterans who acquired debt during active duty must meet income requirements, in order to file a Chapter 7. Bankruptcy isn't always the answer. There are a variety of other alternatives, which may be more beneficial to you and your current