Bankruptcy Means Test Income Allowances Change February 1

26 Jan Bankruptcy Means Test Income Allowances Change February 1

The figures used for your state’s median family income on the bankruptcy means test will change again for cases filed on or after February 1, 2008. A chart by state and family size is available on the U.S. Trustee website.

The numbers come from the U.S. Census Bureau and have been adjusted six times since the adoption of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).

In the case of Kansas, the income figures for each household size all increased, but that may not be the case in all states.

Blogger Cathy Moran says the means test and the calculation of monthly disposable income are complex and full of legal uncertainty. But blogger Craig Andresen‘s nine-part series advises not to give up if you think you flunk the means test. See you bankruptcy lawyer.

My experience has been that the vast majority of my clients pass the means test after they take all the permitted allowances and deductions.

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Jill Michaux has helped Kansas consumers with debt problems for three decades. She and her partner, Mark Neis, are Topeka's only bankruptcy specialists, board certified in consumer bankruptcy law by the American Board of Certification. She help start the National Association of Consumer Bankruptcy Attorneys.
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