October Newsletter from the Law Office of Robert W Kovacs, Jr.


Greetings!


The year is flying by fall is here and that means changing leaves and colder weather.  My family had so much fun apple and pumpkin picking this month.  The kids are very excited that Halloween is almost here.

Have a fun and safe Halloween.

Robert
 
Chapter 7 Bankruptcy and the Means Test
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Before you can file for a Chapter 7 bankruptcy, you have to determine your financial eligibility on the means test. The purpose of the means test is to determine if you have enough income to pay back even a small percentage of your debt.

Chapter 7

There are several ways to determine your financial eligibility for chapter 7.

First, you must show that your gross household income is less than the median income for the state.

Second, if your income is above the median income, then you must prove that there is no way for you to afford to pay back even a small percentage of your income.

Third, if you are unable to prove that you cannot afford to pay back your debts, you may rebut the presumption by showing that there will be a change in circumstance, such as decreased earnings or increased expenses.

Finally, if you are unable to show any of the above you will be required to file a chapter 13 plan of reorganization.


 

What happens if my spouse has full custody of our children?
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This question is posed quite frequently at Kovacs Law Firm. It is a tough situation when one parent no longer has custody. Sometimes it is because of reports of domestic violence, neglect or even desertion. Obviously, if you have been accused of these things it may be best that custody is not shared. However, many people are trying to turn their lives around and get back to seeing their children. Know that just because you may not have custody now, you can likely set up a visitation schedule and by sticking to the schedule, the court may begin to view you as a reliable parent.

 

Visitation or Parenting Time refers to an arrangement for a child to spend time with the parent with whom the child does not live. If there are no instances of abuse, the court may be inclined to approve a parenting schedule whereby both parents may have an adequate amount of time with the child either with or without any sort of supervision. It is very valuable to a child, to see both parents and the court will make decisions regarding custody and parenting time based on the child's best interests.


 

Law Office of Robert W. Kovacs, Jr
(508)926-8833

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