Bankruptcy may help you build a better financial future, some of the benefits include:
A new bankruptcy law, The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, made filing bankruptcy more complex. However, many people are still qualify for bankruptcy and will be able to get a fresh start by filing a Riverside bankruptcy.
Under the new bankruptcy law, one cannot declare bankruptcy until they have undergone credit counseling. In addition, the new bankruptcy law requires those filing for Chapter 7 to have “current monthly income” is less than the median income in California adjusted for household size. If your currently monthly income is over the median income in California you are required to satisfy “the means test” in order to qualify for Chapter 7.
