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Albuquerque Bankruptcy Law Blog

What is an automatic stay?

When New Mexico consumers file Chapter 7 or Chapter 13 bankruptcy petitions, a court order called an automatic stay is issued. Automatic stays go into effect immediately, and they protect individuals in financial difficulties from evictions, foreclosures,...

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What is the means test?

A bankruptcy means test is used to determine who is eligible for Chapter 7 bankruptcy, which will help erase debts. The test takes several factors into account, such as family size, income, and expenses, to determine whether an individual has enough disposable funds...

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