Helpful Bankruptcy Law Change
The new pandemic relief law includes some helpful changes to bankruptcy law, including some protection of the $600 economic impact payments.
Consumer Bankruptcy Changes in the CARES Act
The massive $2.2 trillion coronavirus relief law also includes some legal relief for both Chapter 7 and Chapter 13 consumer debtors.
Filing Chapter 13 in January May Greatly Shorten Your Case
Do you need a Chapter 13 case? WHEN you file it can mean the difference between a payment plan that takes 3 years and one that takes 5.
An Example Why Passing the Means Test May Be Easier in 2018
Filing bankruptcy before the end of December may help you qualify for Chapter 7 bankruptcy. Here's an example showing how this could work.
Pass the Means Test by Filing Bankruptcy in 2018
The timing of your bankruptcy filing can determine whether you qualify for quick Chapter 7 vs. paying into a Chapter 13 plan for 3-5 years.
Why Timing Can Be So Crucial for the Means Test
The timing of your Chapter 7 filing--a difference of even just a day or two--can affect whether you qualify for it based on your income.
The Means Test is Based on Timing
Most people easily pass the means test based on their relatively low income. Timing plays a huge role in calculating your income.
Timing Can Be Crucial for Passing the Means Test
With smart timing you can take advantage of the unusual way that your "income" is calculated for the Chapter 7 means test.
Your “Applicable State” for the Means Test
Determining your correct "applicable state" can make the difference between passing and failing the means test.
A Simple Example of Passing the Means Test
We show by example how the means test works, when a person qualifies for a Chapter 7 case simply by income.
Household Size Really Matters for Passing the Means Test
You can have more income for the purpose of passing the means test as your household size increases. But what IS your household's size?
No Means Test If You Fit within a Military Exemption
There are two military-related exemptions from the Chapter 7 means test. They are narrow but if you qualify it can be a major advantage.
No Means Test If You Have More Business Debts than Consumer Debts
You only have to pass the means test if you have "primarily consumer debts." If you have more business debts, skip the means test.
The Chapter 7 Means Test
You have to pass the means test to qualify for a Chapter 7 case. It's often an easy test to pass but one with some crucial twists and turns.
The U. S. Trustee–Administrator and Enforcer
You hear in bankruptcy about the "trustee," and maybe about the "U.S. Trustee." They're clearly easy to confuse. Who's the U.S. Trustee?