It's easy for financial situations to get out of control. Sometimes it begins with the loss of a job, or the income level changes drastically. Or perhaps it's the death of the primary wage earner in the family, or the rest of the family can no longer meet the obligations that were taken on previously. Or maybe it's a consistent debt pattern that has finally spiraled out of control.

Whatever the reason for deep, ongoing financial issues, there often comes a time when enough is enough. Creditors call constantly, the debt load and related interest continues to increase, and there is no apparent way out of the situation. While it is never an easy decision, probably filing bankruptcy is the best decision.

The main reason debtors file Chapter 7 bankruptcy is to discharge debts. Some people ask what is Chapter 7 bankruptcy? The answer is simple, erasing debts. Eliminating a debt under Chapter 7 is that you never have to pay it back. To qualify to discharge debts when filing personal bankruptcy, you have to pass a bankruptcy means test. The bankruptcy means test is a series of related financial calculations which yielded a determination as the Chapter 7 bankruptcy filing being abusive or not abusive. Passing the test means that the Chapter 7 bankruptcy debts will be discharged. With regards to online bankruptcy, most personal bankruptcy services include free bankruptcy means testing required for filing. Check the Internet if you're interested in filing chapter 7 online.


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