means test Tag

26 Sep Means Test Figures Changing Again

The income figures used for determining bankruptcy eligibility are changing again November 1, 2010. The numbers come from the Census Bureau, which reports median family income by state. The U.S. Trustee takes that data and updates the bankruptcy means test. The U.S. Trustee expects to post...

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07 Jun Supreme Court decides Hamilton v Lanning: Projected Disposable Income in Chapter 13 Bankruptcy is not Strictly Mechanical

One of the fundamental requirements to confirm a plan in a Chapter 13 bankruptcy is that (unless creditors are paid in full) the Debtor must pay for the benefit of unsecured creditors his or her "projected disposable income" to be received in an "applicable commitment...

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27 May How Does Chapter 13 Bankruptcy Work? Part Two: The Means Test

In my previous article, I discussed the purpose for which Chapter 13 bankruptcy was originally intended before the credit card lobby convinced Congress that people who file for bankruptcy are bad people. The October 2005 enactment of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA)...

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