Q: Filing for Ch7 BK. What if I can't pass means test for Ch7 and can't accommodate Ch13 payment terms? I'm self employed.
My construction business is closed now. My debt is nearly $180,000 (mostly suppliers). I was re-married 18 months ago and this debt precedes her. She's a teacher and grosses $65,000 annually and has $100,000 in student loans. Don't know if creditors would be allowed to target her. Wondering if there is a debt reduction/repayment program in California based on a percentage of my earnings instead of a flat dollar amount per month that's based on my debt amount.
A: Depends what your household size is and your combined gross income. For example how much did you both grossed in 2016. We can do a means test analysis for you if we get both of your pay stubs over the past 6 months. You can certainly do a single filing, her student loans and debts don’t matter. Best of luck.
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A: You need to consult with an experienced bankruptcy attorney to provide a complete analysis for you. The means test may not be an issue if the majority of your debt is business related. However, that determination cannot be made on this site. See help from a Certified Legal Specialist in Bankruptcy Law or an attorney that primarily handles bankruptcy cases. There may be several options depending upon an analysis of income, debt, assets and expenses.
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