Recent Posts in Means Test Category
Posted on Jan 22, 2011 By Joseph Tosti
A Michigan bankruptcy court recently took the unusual step of denying a discharge under bankruptcy code section 707(a) to a debtor whose debts were primarly business debts, based upon the court's ...
Continue reading "Business Bankruptcy Debtor Denied a Discharge Under Section 707(a) for Ability to Pay" »
Posted on Jan 21, 2011 By Joseph Tosti
Five years after bankruptcy reform, and millions of cases later, the Supreme Court is still deciding issues affecting the most basic administration of bankruptcy cases. The latest case, In re Ransom , ...
Continue reading "Should the Supreme Court Teach a Bankruptcy Seminar? Yes, as soon as possible." »
Posted on Jan 3, 2011 By Joseph Tosti
The bankruptcy code give you l imited protection against employment discrimination after bankruptcy . You can’t get fired from your existing job in the private sector. You can’t be discriminated ...
Continue reading "Law prohibits employment discrimination after bankruptcy" »
Posted on Dec 28, 2010 By Joseph Tosti
HAMP, the Home Affordable Modification Program which can modify a mortgage, is no way to avoid bankruptcy. It's a heart-breaker. It builds up false hopes and then destroys them. That's my conclusion ...
Continue reading "HAMP Mortgage Modifications and Bankruptcy" »
Posted on Nov 12, 2010 By Joseph Tosti
The means test is one of the first things that your attorney needs to prepare in order to file a consumer bankruptcy . The results of this process will tell you whether you qualify to file a Chapter 7 ...
Continue reading "The Means Test" »
Posted on Nov 12, 2010 By Joseph Tosti
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 ...
Continue reading "2010 Bankruptcy Filings Up 14%" »
Posted on Nov 8, 2010 By Joseph Tosti
A minimum payment in a Chapter 13 Bankruptcy will vary from district to district depending on the local rules. However, the minimum payment must cover what you must pay within the applicable ...
Continue reading "Chapter 13 Minimum Payment." »
Posted on Nov 4, 2010 By Joseph Tosti
If you're running a business, filing bankruptcy involves preparing a profit and loss statement. While this subject isn't terribly interesting or sexy, it's critically important to preparing accurate ...
Continue reading "Profit and Loss Statements for Bankruptcy" »
Posted on Nov 2, 2010 By Joseph Tosti
The new median family income numbers used for determining whether a debtor can file a Chapter 7 bankruptcy went into effect today, November 1, 2010. The numbers are provided by the U.S. Census Bureau. ...
Continue reading "New Median Family Income Numbers For Bankruptcy Effective November 1, 2010" »
Posted on Oct 11, 2010 By Joseph Tosti
Growing case law suggests that debtors should hope the bankruptcy court does not approve their car reaffirmation agreement . Huh?, you say. If you've agreed to reaffirm, and essentially waive the ...
Continue reading "Reaffirmation Agreements- Drive Happily into Sunset" »
Posted on Oct 4, 2010 By Joseph Tosti
You can't turn on a radio or watch TV without hearing or seeing commercials for debt settlement companies that suggest that they are a better choice than bankruptcy. Many, including myself, believe ...
Continue reading "Why Bankruptcy Is A Better Choice Than Debt Settlement? A Case Study!" »
Posted on Oct 4, 2010 By Joseph Tosti
A little over a year ago, Bankruptcy Law Network contributor Cathy Moran wrote a post on this blog about the 9th Circuit's decision in the MBNA v. Ransom case. At issue was the question of whether an ...
Continue reading "Supreme Court to Decide Meaning of Key Means Test Provision" »