Category: Means Testing
By Karen Oakes, Southern Oregon Bankruptcy Attorney
closeAuthor: Karen Oakes, Southern Oregon Bankruptcy Attorney
Name: Karen Oakes, Southern Oregon Bankruptcy Attorney
Email: oakeslaw@gmail.com
Site: http://www.oakeslawoffice.com
About: Helping consumers in the following counties of Oregon: Klamath; Lake; Jackson; Josephine; Curry; Deschutes; and others. Call 541-273-1650 or visit my website to set up an initial consultation and to learn how I can help you. Mention Bankruptcy Law Network when you call.See Authors Posts (157) on Oct 26, 2009 in Bankruptcy Practice and Procedure, Means Testing | 0 Comments
Oregon residents will be affected by the new means test/median income numbers announced by the United States Trustee Program Department of Justice. The numbers are adjusted periodically by the U.S. Trustee Program and generally have a negative impact on those wishing to file a Chapter 7 bankruptcy.
By Jonathan Ginsberg, Atlanta Bankruptcy Attorney
closeAuthor: Jonathan Ginsberg, Atlanta Bankruptcy Attorney
Name: Jonathan Ginsberg, Atlanta Bankruptcy Attorney
Email: jcg@glolaw.com
Site: http://www.atlanta-bankruptcy-attorney.com
About: I represent individuals in Chapter 7 and Chapter 13 cases filed in the Northern District of Georgia, which includes Atlanta, Newnan, Gainesville and Rome. I publish several informative web sites, including www.atlanta-bankruptcy-attorney.com and an Atlanta bankruptcy blog, www.thebklawyer.com/thebkblog. Please mention Bankruptcy Law Network when you call.See Authors Posts (186) on Oct 26, 2009 in Means Testing | 0 Comments
Although it has been in effect for several years, the median income/means test provisions of the Bankruptcy Code continue to confuse potential bankruptcy filers.
In my Atlanta, Georgia bankruptcy practice, I regularly get questions from new clients about the two “budgets” that are filed in Chapter 7 and Chapter 13 cases. The first “budget” is the [...]
By Jonathan Ginsberg, Atlanta Bankruptcy Attorney
closeAuthor: Jonathan Ginsberg, Atlanta Bankruptcy Attorney
Name: Jonathan Ginsberg, Atlanta Bankruptcy Attorney
Email: jcg@glolaw.com
Site: http://www.atlanta-bankruptcy-attorney.com
About: I represent individuals in Chapter 7 and Chapter 13 cases filed in the Northern District of Georgia, which includes Atlanta, Newnan, Gainesville and Rome. I publish several informative web sites, including www.atlanta-bankruptcy-attorney.com and an Atlanta bankruptcy blog, www.thebklawyer.com/thebkblog. Please mention Bankruptcy Law Network when you call.See Authors Posts (186) on Oct 13, 2009 in Means Testing | 0 Comments
For the first time since means testing was introduced in 2005, several of the median income numbers for Georgia families have gone down. This means that the presumption of abuse is more likely to arise for Georgia filers.
Here is an example: if you have a family of 4 and file Chapter 7 on October 31 [...]
By David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney
closeAuthor: David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney
Name: David Leibowitz
Email: dleibowitz@lakelaw.com
Site: http://www.lakelaw.com
About: David Leibowitz holds a B. A. in Economics from Northwestern University and received his J.D., cum laude, from Loyola University of Chicago School of Law where he also served as Note Editor of the law review. Admitted to the Illinois and Wisconsin bars, he is the managing member of Lakelaw, an interstate law firm with offices in Chicago, Skokie and Waukegan in Illinois and Kenosha and La Crosse in Wisconsin.
He is nationally recognized for his work in identifying and pursuing mortgage related claims in the context of bankruptcy. He is presently writing "Leibowitz' Guide to Mortgage Modifications" to be published shortly after Congress amends the Bankruptcy Code. David is a member of both the Illinois and Wisconsin bars and has practiced in bankruptcy courts throughout the country. He is a member of the American Bankruptcy Institute where he is the Special Projects Coordinator for the Commercial Fraud Task Force and a frequent contributor to the ABI Journal. He is also a member of the National Association of Bankruptcy Trustees, the National Association of Consumer Bankruptcy Attorneys and numerous state and local bar associations. He is Board Certified by the American Board of Certification in both Consumer Bankruptcy Law and Business Bankruptcy Law.See Authors Posts (56) on Oct 11, 2009 in Bankruptcy Practice and Procedure, Chapter 7 Bankruptcy, Means Testing | 0 Comments
Under the Bankruptcy Code, we calculate your “current monthly income” to see if you qualify for a chapter 7 case. Those with “current monthly income” more than the median income are presumed to be abusing the bankruptcy system if they file a chapter 7. They can “overcome” this presumption in some cases through the complex [...]
By Jill Michaux, Kansas Bankruptcy Attorney
closeAuthor: Jill Michaux, Kansas Bankruptcy Attorney
Name: Jill Michaux
Email: jill.michaux@neismichaux.com
Site: http://www.bankruptcykansas.info
About: Topeka's Consumer Bankruptcy Specialist, Jill A Michaux is the managing partner of the law firm, Neis & Michaux, P.A. She practices law with her husband, Mark W. Neis.
She has helped consumers with debt problems in bankruptcy since 1980. She is board certified consumer bankruptcy by the American Board of Certification since 1992.
You may reach her at her office in Suite 825 of the Bank of America Tower at 6th Street and Kansas Avenue in downtown Topeka, 534 S. Kansas Ave., Ste. 825, Topeka, KS 66603-3446.
Telephone: 785-354-1471 or 866-354-1471
Fax: 785-354-1170
Website: www.bankruptcykansas.info
Blog: www.bankruptcylawnetwork.com
E-mail: jill.michaux@neismichaux.comSee Authors Posts (143) on Oct 10, 2009 in Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Featured, Means Testing | 0 Comments
If you are a consumer thinking about filing bankruptcy, you will want to figure out whether to file bankruptcy before or after November 1 when changes to the income eligibility guidelines take effect. For some people, the means test changes will help and for others the changes will hurt.
In Kansas, for example, median family income [...]
By Jill Michaux, Kansas Bankruptcy Attorney
closeAuthor: Jill Michaux, Kansas Bankruptcy Attorney
Name: Jill Michaux
Email: jill.michaux@neismichaux.com
Site: http://www.bankruptcykansas.info
About: Topeka's Consumer Bankruptcy Specialist, Jill A Michaux is the managing partner of the law firm, Neis & Michaux, P.A. She practices law with her husband, Mark W. Neis.
She has helped consumers with debt problems in bankruptcy since 1980. She is board certified consumer bankruptcy by the American Board of Certification since 1992.
You may reach her at her office in Suite 825 of the Bank of America Tower at 6th Street and Kansas Avenue in downtown Topeka, 534 S. Kansas Ave., Ste. 825, Topeka, KS 66603-3446.
Telephone: 785-354-1471 or 866-354-1471
Fax: 785-354-1170
Website: www.bankruptcykansas.info
Blog: www.bankruptcylawnetwork.com
E-mail: jill.michaux@neismichaux.comSee Authors Posts (143) on Sep 24, 2009 in Bankruptcy Practice and Procedure, Means Testing | 0 Comments
The income figures used on the bankruptcy means test will change for debtors filing petitions on and after November 1, 2009, the U.S. Trustee program has announced. The numbers could go up or down. Some people are predicting lower figures due to the economic downturn.
Data from the U.S. Census Bureau is adjusted for family size [...]
By Cathy Moran, California Bankruptcy Lawyer
closeAuthor: Cathy Moran, California Bankruptcy Lawyer
Name: Cathy Moran, California Bankruptcy Lawyer
Email: cathymoran@gmail.com
Site: http://www.moranlaw.net
About: I'm a certified specialist in bankruptcy law (California State Bar Board of Legal Specialization) practicing in the San Francisco Bay Area for over 25 years. My proudest professional accomplishment is authorship of Bankruptcy in Brief at www.moranlaw.net, perhaps the web's most comprehensive web site on bankruptcy basics.See Authors Posts (174) on Sep 22, 2009 in Bankruptcy Cases & Legislation, Means Testing | 0 Comments
Pledge your car for a small loan and save big when you file bankruptcy. Such idiocy follows from the 9th Circuit Court of Appeals decision in Ransom.
At issue was whether a debtor got a deduction on the means test for the costs of acquiring a car if the car was fully paid for. [...]
By David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney
closeAuthor: David Leibowitz, Illinois and Wisconsin Bankruptcy Attorney
Name: David Leibowitz
Email: dleibowitz@lakelaw.com
Site: http://www.lakelaw.com
About: David Leibowitz holds a B. A. in Economics from Northwestern University and received his J.D., cum laude, from Loyola University of Chicago School of Law where he also served as Note Editor of the law review. Admitted to the Illinois and Wisconsin bars, he is the managing member of Lakelaw, an interstate law firm with offices in Chicago, Skokie and Waukegan in Illinois and Kenosha and La Crosse in Wisconsin.
He is nationally recognized for his work in identifying and pursuing mortgage related claims in the context of bankruptcy. He is presently writing "Leibowitz' Guide to Mortgage Modifications" to be published shortly after Congress amends the Bankruptcy Code. David is a member of both the Illinois and Wisconsin bars and has practiced in bankruptcy courts throughout the country. He is a member of the American Bankruptcy Institute where he is the Special Projects Coordinator for the Commercial Fraud Task Force and a frequent contributor to the ABI Journal. He is also a member of the National Association of Bankruptcy Trustees, the National Association of Consumer Bankruptcy Attorneys and numerous state and local bar associations. He is Board Certified by the American Board of Certification in both Consumer Bankruptcy Law and Business Bankruptcy Law.See Authors Posts (56) on Sep 20, 2009 in Means Testing | 0 Comments
You have to pass the means test if your debts are “primarily” consumer debts. This isn’t quite as easy as it sounds. Why? The word “primarily” is not defined in the Bankruptcy Code.
So how do we figure this out?
Well, first what’s a “consumer debt”? That’s not so hard – “consumer debts” are defined in the [...]
By Craig Andresen, Attorney at Law
closeAuthor: Craig Andresen, Attorney at Law
Name: Craig Andresen, Attorney at Law
Email: craig@cwalaw.com
Site: http://www.cwalaw.com
About: Helping consumers in every county in Minnesota since 1987. Call (952) 831-1995, or visit my website, to set up an initial consultation and learn how I can help you. Mention Bankruptcy Law Network when you call.See Authors Posts (136) on Aug 30, 2009 in Bankruptcy Practice and Procedure, Benefits of Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Means Testing | 0 Comments
Some persons considering filing a chapter 7 or chapter 13 bankruptcy case might be concerned about their level of income being inflated due to working overtime hours, or having a part-time job in addition to their main full-time job. The concern is that the heightened level of income might render the debtor ineligible for chapter 7 [...]
By Wendell Sherk, Missouri Attorney
closeAuthor: Wendell Sherk, Missouri Attorney
Name: Wendell Sherk, Missouri Attorney
Email: wjsherk@alum.wustl.edu
Site: http://www.stlbankruptcy.com
About: I have been a bankruptcy attorney since 1989. Our firm represents consumers filing bankruptcy almost exclusively. My partner and I have each represented bankruptcy trustees as well as creditors. If you live in Eastern Missouri, visit our website, send an e-mail or give us a call (314) 781-3400. Please mention Bankruptcy Law Network.See Authors Posts (151) on Aug 28, 2009 in Bankruptcy Cases & Legislation, Bankruptcy Practice and Procedure, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Means Testing | 0 Comments
Whether to allow a debtor to claim a deduction on the bankruptcy means test for the ownership expense of a car if there is no debt on it is quickly being resolved by the courts.
Today, the Eighth Circuit Court of Appeals concluded that the deduction would be allowed. The circuit court joins with the Fifth [...]