top

National Debt Relief Acts

New Bankruptcy Law Changes Providence RI Attorney
Credit Card Debt Cancellation Lawyer

Despite what they want you to believe, you will probably still qualify for Chapter 7 bankruptcy to eliminate all of your consumer debt.

On October 17, 2005, the Congress of the United States of America rolled over to the giant credit card and consumer debt corporations and passed laws to protect the industry from itself. I want you to know that the new National Debt Relief Act affected bankruptcy lawyers like me more than it affected people like you who may need bankruptcy to gain a fresh foothold on life.

In general, the new laws affected about five percent of the American people and they did cause an increase in attorneys’ filing fees. But, rest assured, you still probably qualify for bankruptcy relief.

Bankruptcy law is all I do. I see first-hand how hardworking Americans are led down a path of excessive interest rates and high penalties and fees that never let you get ahead.

I will help you to quickly and easily navigate through the new bankruptcy laws.

If you have questions about how the new bankruptcy laws affect you, contact the National Debt Relief Program attorney’s office of attorney Robert B. Jacquard, Esq. I will be happy to explain the new bankruptcy laws to you and give you more information to let you decide if bankruptcy may be the right option for you.

Here is the new National Debt Relief Program Act in a nutshell:

  1. Within six months before filing, you must take an approved financial management course
  2. If your current monthly income is less than the median income in your state of residence, you may file for Chapter 7 debt elimination of all of your consumer debt. You may not include tax debt, or government-backed student loans
  3. If your current monthly income is more than the median income in your state of residence, you must apply a means test:

Means Test

Step 1: Your monthly income – your monthly expenses = A

Step 2: A x 60 = B

Step 3: If B of step 2 is >$10,000, or >25% of your debt, then are eligible to file under Chapter 13 for debt reorganization

If B of step 2 is <$6,000, or <25% of your debt, then you are eligible to file under Chapter 7 for consumer debt elimination

When you call the National Debt Relief Program attorney’s office of Robert B. Jacquard, Esq., for a free consultation, I will be able to quickly assess whether or not it will be beneficial for you to file for bankruptcy.