What is the Fresh Start Bankruptcy Program?

Attorney David Shuster | 888-365-0921 | Free Consult

“It’s a simple question of how much money do you make. So you’d be surprised, and you definitely want to talk to an attorney about that.”

Through a fresh start bankruptcy program, you can get rid of unwanted debt and start rebuilding your finances on stable ground.

David Shuster is a debt relief attorney with Shuster Law, PLLC in the Dallas—Fort Worth area. In this video, he explains the essentials of fresh start programs and how you can start utilizing one to begin recovering from debt. However, it often requires the assessment of an experienced bankruptcy attorney to identify all the options available to you.

To learn more, contact the attorney directly by calling 888-365-0921 or by submitting a contact form on this page. There is no charge for the consultation, and you never owe any out-of-pocket attorney fees.

Key Takeaways From David Shuster:

The phrase “fresh start” refers to a form of bankruptcy that involves getting rid of unwanted debt such as credit card debt, medical debt, and unsecured short-term loan debt. This process generally takes about three months and offers the people who qualify for it a clean slate and fresh start in regard to this extraneous debt so they can move forward and begin rebuilding their financial security.

Not everyone is qualified for the fresh start bankruptcy program.

To qualify for a fresh start bankruptcy, a person’s income over the last six months will be analyzed in comparison to the debt owed. In general, if it seems unlikely their debts will be able to be paid off in the next five years on their current income, they might be eligible to file. However, elements of a person’s situation such as expenses, discrepancy between current and past incomes, etc. can all affect someone’s likelihood of qualifying for the fresh start program.

To qualify for Chapter 7 bankruptcy, you must pass the means test.

One of the main qualifications a person will have to meet to qualify for a fresh start bankruptcy is passing the means test. Essentially to pass this test, a person must make below the average for a household of their size in their area. If they do make below this average, they might pass the means test and qualify for a Chapter 7 or “fresh start” bankruptcy.

However, some people forget that they can deduct specific monthly expenses, such as ongoing medical bills. There are many factors involved in assessing someone’s eligibility for bankruptcy, which can be extremely difficult to assess for one’s own. This is why it’s important to speak with a bankruptcy attorney before deciding by yourself if you are or are not eligible for a fresh start bankruptcy.

Talk to a bankruptcy attorney to determine your eligibility.

Unfortunately, simply using a search engine to learn about the various bankruptcies available and whether or not you qualify can be unreliable. The most reliable way to learn more about what options are available to you in regard to a fresh start is to contact a bankruptcy attorney to discuss your situation. The consultations are free and can give someone considering bankruptcy a much better idea of how to move forward in regard to resolving their debt. Shuster points out that while an online means test might say you are not eligible, an experienced bankruptcy attorney might be able to identify certain elements of your situation that actually do qualify you for bankruptcy. Within the initial phone call, a bankruptcy attorney should be able to offer several options and an idea of whether you are likely or unlikely to qualify.

Additionally, if you don’t qualify for a fresh start bankruptcy at present, there are other options available to you which a bankruptcy attorney can help you sort through. Other options might include Chapter 13 bankruptcy or even settling with creditors. A bankruptcy attorney can help familiarize you with your options and make individualized recommendations based on your situation to save you time, money, and stress.

To learn more, contact David Shuster directly by calling 888-365-0921 or by submitting a contact form on this page. There is no charge for the consultation, and you never owe any out-of-pocket attorney fees.

Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.

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