by Mark J. Markus | Feb 11, 2012 | Bankruptcy Alphabet, chapter 13, chapter 7, means test
Median Income In Bankruptcy And The Means Test Here’s something many don’t realize. You can earn above the median income for your location and household size and still qualify for Chapter 7 bankruptcy. What’s that, you say? You’ve read online...
by Mark J. Markus | Nov 23, 2011 | Bankruptcy Alphabet, means test
Gifts come in many shapes and sizes and, while usually a welcome thing, can have unintended consequences in a bankruptcy case. There’s basically two types of gifts: Those you give, and those you receive. Gifts Must Be Listed As Assets On the Bankruptcy...
by Mark J. Markus | Jul 11, 2011 | Bankruptcy Law, means test
The dreaded means test is one of the methods to determine eligibility to file bankruptcy for those who have primarily consumer debt. The means test requires one to include the average of ALL gross income received from any source, other than social security and income...
by Mark J. Markus | Oct 13, 2010 | chapter 7, means test
As many of you know, one of the bankruptcy eligibility threshold factors to determine which chapter of bankruptcy one may file under (e.g. Chapter 7, chapter 11, or chapter 13) is the dreaded “means test” which uses income received in the six calendar...
by Mark J. Markus | May 4, 2010 | Bankruptcy Law, chapter 7, means test
I was asked a question in a forum: If a chapter 7 bankruptcy case gets dismissed for “failing” the means test, under 707(b) of the bankruptcy code (11 U.S.C. 707(b)), is there any time limit on re-filing? The answer is, for most cases, “no.”...
by Mark J. Markus | Sep 16, 2009 | chapter 13, chapter 7, means test
Our question of the week comes from a user who asks: I have been unemployed for nearly a year now and will be running out of unemployment benefits in about 3 months which will leave me with no income at all and I am single. The prospects of finding a job in my line of...
