Category: Means Testing
By Craig Andresen, Attorney at Law on May 8, 2008 in Bankruptcy Cases of Interest, Bankruptcy Practice and Procedure, Featured, Means Testing | 0 Comments
Yet another bankruptcy court has issued a ruling recognizing what should have been obvious all along: the U.S. Trustee must file its “ten day statement” regarding supposed abuse of chapter 7 as a prerequisite to any 707(b) motion, whether the motion is based upon the means test (707(b)(2)) or the “totality of the circumstances” (707(b)(3)). [...]
Popularity: 8% [?]
By Craig Andresen, Attorney at Law on Apr 21, 2008 in Featured, Means Testing | 0 Comments
In a consumer bankruptcy, the financial analysis contained on the means test form (Form B22A in chapter 7, Form B22C in chapter 13) can mean the difference between success and failure. In a close case, it may be necessary to take every possible deduction, to avoid having the means test show that the debtor has [...]
Popularity: 14% [?]
By Craig Andresen, Attorney at Law on Apr 15, 2008 in Bankruptcy Myths, Bankruptcy Practice and Procedure, Means Testing | 0 Comments
It is unlikely the bankruptcy petition has to be amended if your income increases after the case is filed. This is because the bankruptcy petition, which is a document whose accuracy you have verified under penalty of perjury, is supposed to accurate as of the date you signed it, and as of the date [...]
Popularity: 17% [?]
By Craig Andresen, Attorney at Law on Apr 13, 2008 in Bankruptcy Myths, General Bankruptcy Information, Means Testing | 0 Comments
You may have heard that you need to provide your lawyer with six months of paycheck stubs (advices of payment) if you want to file a bankruptcy case. While most persons will end up doing so, the actual legal requirement is not that stringent.
The bankruptcy law requires, in section 521(a)(1)(B)(iv), that you file with [...]
Popularity: 18% [?]
By L. Jed Berliner, Springfield Bankruptcy Attorney on Apr 11, 2008 in Bankruptcy Practice and Procedure, General Bankruptcy Information, Lawyer to Lawyer, Massachusetts, Means Testing, Role Of The Lawyer | 0 Comments
An above-median income Chapter 7 debtor must pass the Means Test to avoid a mandatory five year Chapter 13 case. The Means Test takes the debtor’s income, subtracts IRS-allowed expenses and secured debt payments, and forces a Chapter 13 filing if the difference can pay a sufficient amount of debt. Here’s a short list of [...]
Popularity: 20% [?]
By Michael Doan on Mar 30, 2008 in Bankruptcy Legislation, Bankruptcy Myths, California, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Means Testing, Role Of The Lawyer | 0 Comments
In my last blog, I touched on how Bankruptcy was a “snapshot” in time wherein all information on the bankruptcy petition must be accurate as of the date your bankruptcy petition is actually filed. In this blog, the ramifications of filing a month later is explored. We take the example of filing in April 08 [...]
Popularity: 48% [?]
By Michael Doan on Mar 30, 2008 in Bankruptcy Practice and Procedure, California, Chapter 12 Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Means Testing, Pay-Off Statements, Role Of The Lawyer, Venue and Qualifications | 0 Comments
With the advent of the new Bankruptcy laws in 2005 came a plethora of new changes and requirements, most of which require numerous substantiating documents which also coincide with strict time frames. Failing to supply such documents and/or abide by the new time frames might mean something as slight as continuation of your case to [...]
Popularity: 44% [?]
By Andy Miofsky, Illinois Bankruptcy Attorney on Mar 21, 2008 in Bankruptcy Cases of Interest, Decisions of Interest, Illinois, Means Testing, Missouri | 0 Comments
The Southern District Bankruptcy Court of Illinois sits along the east bank of the Mighty Mississippi River from a spot just north of St. Louis, Missouri to the southern most point in Illinois. Across the river and far across the state of Missouri is the Western District Bankruptcy Court of Missouri. Geography aside, [...]
Popularity: 25% [?]
By Eugene S. Melchionne, Connecticut Bankruptcy Attorney on Mar 15, 2008 in Bankruptcy Myths, Bankruptcy Practice and Procedure, Benefits of Bankruptcy, Choosing Bankruptcy Attorney, Connecticut, Means Testing | 0 Comments
The one thing I really want my Bankruptcy Clients to do is be upfront about personal issues. For example, when analyzing means testing data, it became apparent that several clients had substantial income that was unaccounted for. Money was disappearing out the budget each month that could or should be available [...]
Popularity: 28% [?]
By Craig Andresen, Attorney at Law on Feb 25, 2008 in Means Testing | 0 Comments
Some of the categories of expense on the bankruptcy means test form (Form B22A for chapter 7, Form B22C for chapter 13) are “special.” This is because unlike the categories which use an IRS standard allowance to determine one of your household living expenses, the “special” categories use the actual expenses you incur for [...]
Popularity: 23% [?]