Topic
Means Test
60 published works
Texas Bankruptcy Blog
Bankruptcy and Education Expenses
By Bryan Fears
The main purpose of the bankruptcy means test is to prevent wealthy debtors from filing for Chapter 7 Bankruptcy. Debtors who earn more than their state’s median income for their…
Texas Bankruptcy Blog
Who is a Good Candidate for Chapter 7 Bankruptcy?
By Bryan Fears
A person or family whose primary financial difficulty stems from excessive, unsecured debt (i.e., credit cards, medical bills, civil judgments, signature loans, etc. ) is a usually a good candidate…
Texas Bankruptcy Blog
Who can I Claim as a Member of my Household in a Chapter 7 or a Chapter 13 for Purposes of the Means Test?
By Bryan Fears
In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which completely changed the eligibility for consumers to file a Chapter 7 bankruptcy. BAPCPA was signed into…
Texas Bankruptcy Blog
Converting from Chapter 13 to Chapter 7
By Bryan Fears
You have the right to convert your Chapter 13 case to one under Chapter 7, the only restriction is that the debtor cannot convert if a Chapter 7 discharge was…
Texas Bankruptcy Blog
Business Owner Personal Bankruptcy
By Bryan Fears
Just like any other bankruptcy case, when a business owner files for bankruptcy protection he must submit a means test worksheet. The means test is a qualifying calculation for Chapter…
Texas Bankruptcy Blog
A Car Payment Can Help You Pass the Bankruptcy Means Test
By Bryan Fears
The bankruptcy means test is designed to “weed out” those who can afford to repay some of their creditors by disqualifying those debtors from Chapter 7 bankruptcy. The means test…
Texas Bankruptcy Blog
Child Support As Income On Bankruptcy Means Test
By Bryan Fears
The bankruptcy means test treats child support as income. That is difficult for many debtors to understand since the government does not tax child support as income. Monthly child support…
Georgia Bankruptcy Blog
11th Circuit: Court May Consider Chapter 7 Debtor’s Ability To Pay In “Totality Of Circumstances” And Consideration Of Abuse
By Sunghee Sohn
In In re Witcher, No. 11-15883 (11th Cir. December 13, 2012) (click here for opinion), the issue before the Court was... whether a court may take into account a debtor’s…
Texas Bankruptcy Blog
Bankruptcy: Is Time on Your Side?
By Bryan Fears
Before filing bankruptcy, make sure that you discuss the timing of your filing with your attorney. The time of year, or even the time of month, can significantly impact your…
Texas Bankruptcy Blog
The Means Test and Business Debt
By Bryan Fears
The purpose of the bankruptcy means test is to determine whether the debtor has the ability to repay creditors during his or her bankruptcy case. After subtracting reasonable and necessary…