From Straffi & Straffi Attorneys at Law — What Disqualifies You from Filing Bankruptcies? delves into the critical eligibility pitfalls that can doom a bankruptcy filing before it even begins. This episode breaks down the precise legal thresholds and roadblocks you need to know, so you can avoid costly mistakes and maximize your chances for financial reset.
In the first section, we explore income requirements and how the “means test” in New Jersey determines eligibility by comparing your income to state medians. If you don’t pass the test, Chapter 7 may be off the table, and you might need to consider Chapter 13 instead. Straffi & Straffi Attorneys at Law explain how to calculate your disposable income and which thresholds matter most.
Next, we look at disqualifying factors that can block your bankruptcy entirely. These include a recently dismissed bankruptcy case, which can trigger a waiting period, fraudulent behavior like hiding assets or misrepresenting debts, and restrictions tied to previous bankruptcy discharges, such as the waiting periods between Chapter 7 and Chapter 13 filings.
Then, the episode addresses what debts cannot be discharged, even if you qualify. The show emphasizes that alimony and child support, tax debts, and student loans are often immune from discharge. You’ll hear the criteria and exceptions for each, including when “undue hardship” might allow relief on student debt. The episode concludes with alternatives to bankruptcy and common filing mistakes, offering insights into debt repayment plans, negotiating with creditors, and credit counseling options—plus key warnings about missteps that can torpedo your case.
Straffi & Straffi Attorneys at Law
670 Commons Way, Toms River, NJ 08755, United States
(732) 341-3800
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