Another example of one of the absurd results of the Means Test is seen in the calculation of CMI for school teachers which can show that a teacher’s yearly income up to 33% higher than it really is. In North Carolina, many school teachers are often paid for only 9 or 10 months of the [...]
September 2008
With the passage of the new bankruptcy laws in October, 2005, all debtors must now calculate current monthly income, which is a legal term of art under the new Bankruptcy Code. In a nutshell, current monthly income is the average monthly income for the previous 6 months preceding the Bankruptcy Filing Date. For w-2 employees, [...]
Post-filing earnings, minus reasonable living expenses, in Chapter 13 is property belonging to the creditors. This can include tax refunds. I used to counsel my clients to decrease their withholdings, which increases net pay and reduces the tax refund. I came to realize that, by and large, my clients needed the forced savings which a [...]
Effective September 10, 2008, are the new Chapter 7 Trustee Guidelines for the Southern District of California Bankruptcy Court. While not mandatory, failing to follow these guidelines will almost always result in having the case called at the end of the 341 Calendar, and hearing continuations.
The time to challenge a debtor’s chapter 7 discharge for abuse is counted from the date of the first meeting of creditors, the Kansas District Court ruled on appeal. See In re Close, Case No. 07-2076-JAR, Bankruptcy case No. 06-20195-7, Turner UST v Close, (2008). Judge Julie A. Robinson said the U.S. Trustee was too late when [...]
Okay, the debtor in a bankruptcy case can’t really fire the chapter 7 trustee, even if the trustee is annoying or is engaging in troublesome litigation with the debtor. After all, the reason the court appointed the chapter 7 trustee is to maximize, within the limits of the law, the return of money from the [...]
