Means Testing

29 Jul Veterans & Bankruptcy: Do I Lose My Benefits if I File Bankruptcy? NO!

Do you ever wonder how bad rumors get started?  Bad headlines don't help. Congress is considering the Honoring American Veterans in Extreme Need (HAVEN) Act.  Part of the HAVEN Act will correct an injustice suffered by many U.S. vets who receive service-related disability income.  In bankruptcy...

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02 Mar Bankruptcy Means Test: Student Loans Used to Obtain Dentistry Degree Not “Consumer Debts” Under Section 707(b)

The 2005 Bankruptcy Reform Act's "means test" for chapter 7 bankruptcy filers was weakened by a recent ruling from a Texas bankruptcy court. Under this ruling, student loans incurred for the purpose of obtaining a professional degree to be used in business are not "consumer...

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30 Dec Retirement Account Contributions Allowed for Under-Median Income Chapter 13 Debtors: More on In re Parks

A state of Washington bankruptcy court decided that chapter 13 debtors with household incomes that are below their state's median income levels can continue making contributions to 401(k) and other retirement accounts. In re Bruce, No. 11-40939-BDL (Bky.W.D.Wash. Dec. 11, 2012), held that the Ninth...

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