Category: Means Testing
By Pamela Stewart, Attorney at Law
closeAuthor: Pamela Stewart, Attorney at Law
Name: Pamela Stewart, Houston and Victoria Bankruptcy Lawyer
Email: PLSatty@swbell.net
Site: http://plstewart.com
About: See Authors Posts (142) on Aug 21, 2009 in General Bankruptcy Information, Means Testing | 0 Comments
When Congress passed the ‘new’ bankruptcy law in 2005, it included a provision that Debtors must prepare and file what is called the Means Test. It looks at all of your income from every source except Social Security benefits. If your income exceeds a certain amount (less allowed expenses) a presumption arises and you are not [...]
By Russell A. DeMott, Charleston Bankruptcy Lawyer
closeAuthor: Russell A. DeMott, Charleston Bankruptcy Lawyer
Name: Russell A. DeMott, Charleston Bankruptcy Lawyer
Email: russ@wyckoffdemott.com
Site: http://www.scbankruptcyattorney.com
About: See Authors Posts (16) on Aug 21, 2009 in General Bankruptcy Information, Means Testing | 0 Comments
The “means test” is complicated and, as is much of the new bankruptcy law, is interpreted in wildly different ways throughout the country. Don’t try to take the test on your own.
The means test has been justifiably criticized since the new bankruptcy law (”BAPCPA”) went into effect in 2005. In fact, the means test may well [...]
By Mark Buckley, Rhode Island Bankruptcy Lawyer
closeAuthor: Mark Buckley, Rhode Island Bankruptcy Lawyer
Name: Mark Buckley, Rhode Island Bankruptcy Lawyer
Email: AttorneyBuckley@verizon.net
Site: http://www.RI-Bankruptcy.com
About: I have helped thousands of Rhode Island consumers erase unpayable debt. Being the only CERTIFIED FINANCIAL PLANNER in RI who is also a consumer bankruptcy lawyer, I am happy to explain how I can help you. Call me with your questions, or to schedule a consultation. I can be reached at 401 467-6800. Or visit www.RI-Bankruptcy.com.See Authors Posts (11) on Aug 7, 2009 in Bankruptcy Practice and Procedure, Discharge of Debt, Means Testing, Your Bankruptcy Attorney & You | 0 Comments
The most common form of consumer bankruptcy, a Chapter 7 filing, takes about 90 days to complete. For each case filed, the court assigns a trustee and schedules a date for a meeting of creditors. This meeting occurs about 30 days into the process. (And it does NOT take place in a courtroom.)
At the meeting of creditors, the bankruptcy trustee [...]
By Nicholas Ortiz, Boston Bankruptcy Attorney
closeAuthor: Nicholas Ortiz, Boston Bankruptcy Attorney
Name: Nicholas Ortiz, Boston Bankruptcy Attorney
Email: nfo@mass-legal.com
Site: http://www.bkmass.com/
About: Helping consumers and small businesses in the following counties of Massachusetts: Suffolk; Norfolk; Essex; Middlesex; Plymouth; Bristol; Barnstable; Dukes; Nantucket. Visit my website www.bkmass.com to set up an initial consultation and to learn how I can help you. Mention Bankruptcy Law Network when you callSee Authors Posts (167) on Aug 5, 2009 in Means Testing | 0 Comments
The U.S. Court of Appeals for the First Circuit today affirmed in re Rudler, a case in which both the Bankruptcy Court and the Bankruptcy Appellate Panel for the First Circuit allowed a means test deduction for a car payment when then car was being surrendering in the course of the bankruptcy case. The [...]
By Russell A. DeMott, Charleston Bankruptcy Lawyer
closeAuthor: Russell A. DeMott, Charleston Bankruptcy Lawyer
Name: Russell A. DeMott, Charleston Bankruptcy Lawyer
Email: russ@wyckoffdemott.com
Site: http://www.scbankruptcyattorney.com
About: See Authors Posts (16) on Jul 31, 2009 in Bankruptcy Cases & Legislation, Benefits of Bankruptcy, Means Testing | 0 Comments
If you decide to file bankruptcy, you must first calculate your “current monthly income.” Current monthly income (“CMI”) is a highly artificial number that can have big implications on whether you are allowed a Chapter 7 discharge or how much you must pay to your creditors in Chapter 13. Calculating CMI also requires your attorney to [...]
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 (137) on Jul 29, 2009 in Bankruptcy Cases & Legislation, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Means Testing | 1 Comment
The chorus is growing — two more appeals courts have ruled that the bankruptcy “means test” (also known as Form B22C) doesn’t establish how much a chapter 13 debtor needs to pay each month into the plan. Instead, both the Fifth and Seventh Circuit Court of Appeals recently said that the means test only provides a “starting [...]
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 (137) on Jul 27, 2009 in Bankruptcy Cases & Legislation, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Exemptions In Bankruptcy, Means Testing | 0 Comments
According to the Eighth Circuit Bankruptcy Appellate Panel, a bankruptcy debtor cannot lose social security benefit payments in a bankruptcy case, even the money is paid as a $17,165 lump sum for past benefits. In re Carpenter, No. 08-6046 (8th Cir. BAP July 13, 2009), held that section 407 of the Social Security Act excludes such [...]
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 Jul 25, 2009 in Chapter 7 Bankruptcy, Debts Not Dischargeable, Discharge of Debt, Means Testing | 0 Comments
A few days ago, I wrote Part I of a series entitled Bankruptcy and the MLM Distributor. In that post I described my typical MLM distributor as an entrepreneurial, motivated businessperson who worked full time on his MLM business and ran into debt problems because of a sudden or unexpected change in his compensation plan, [...]
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 Jul 22, 2009 in Chapter 7 Bankruptcy, Debts Not Dischargeable, Discharge of Debt, Means Testing | 0 Comments
Over the past couple of years I have met with several potential clients who were in the MLM (multi-level-marketing) business and were looking to file (Chapter 7) bankruptcy. Recently I spent a good 45 minutes on the phone with another potential client in the MLM business and this conversation got me thinking about the issues [...]
By Nicholas Ortiz, Boston Bankruptcy Attorney
closeAuthor: Nicholas Ortiz, Boston Bankruptcy Attorney
Name: Nicholas Ortiz, Boston Bankruptcy Attorney
Email: nfo@mass-legal.com
Site: http://www.bkmass.com/
About: Helping consumers and small businesses in the following counties of Massachusetts: Suffolk; Norfolk; Essex; Middlesex; Plymouth; Bristol; Barnstable; Dukes; Nantucket. Visit my website www.bkmass.com to set up an initial consultation and to learn how I can help you. Mention Bankruptcy Law Network when you callSee Authors Posts (167) on Jul 21, 2009 in Means Testing | 0 Comments
The 2005 amendments to the bankruptcy code created a new “Means Test.” The main purpose of this test is to a) determine if an individual is eligible to file a Chapter 7 bankruptcy and b) to determine the disposable income of a Chapter 13 debtor who is above the median income.
In order to determine [...]