Disposable Income

What Do You Understand by Disposable Income?

Many people find bankruptcy a great way out of spiraling debts. Consulting a bankruptcy attorney to find out which bankruptcy chapter suits your condition the best is important. However, people come across the term ‘disposable income’ too often during bankruptcy discussions and are often confused as to what it means. According to bankruptcy lawyers of Los Angeles based firm Recovery Law group, disposable income is the amount of your monthly gross income which remains after all essential bankruptcy expenses are subtracted from it. Disposable income is important to decide which chapter of bankruptcy you qualify; Chapter 7 to [...]