Dumping Your Chapter 7 Case Midstream, or Switching to a Chapter 13 One
You can usually change from an ongoing straight Chapter 7 case into a Chapter 13 payment plan. But getting out of bankruptcy altogether is generally not allowed.
The Arbitrariness of the “Objective” Means Test
The means test is supposed to be an objective way to decide who qualifies to file a Chapter 7 bankruptcy. So what’s so objective about whether your “monthly disposable income” is less than $117 or more than $195? Sounds pretty arbitrary to me. Before getting to this step of the means test, let me bring […]
Changing Your Mind After Filing Under Chapter 7 or Chapter 13
You have some wiggle room if you either want to get out of your bankruptcy case or change to the other Chapter.
The “Black Box” of the Means Test
What happens if you make too much money so that you are over “median income,” but you still want to file a Chapter 7 case? You get to go through the “black box” that is the expenses side of the means test. In the last couple of blogs I’ve covered the first part of […]
Income Taxes and Self-Interest in a Marriage
Each spouse in a marriage with significant tax debt has his or her self-interest, which may need a different solution than the other spouse.
Spouse Needs to Join Bankruptcy to Discharge Income Taxes, But Reluctant Because Has No Other Debts and Has Separate Asset
Finding the best way out of this seeming Catch-22 depends on a full understanding of your unique situation and your goals.
The Rigid “Means Test” Makes the Timing of Your Bankruptcy Filing Critical
Waiting just one day to file your Chapter 7 bankruptcy case can make qualifying for it much easier—or much harder! How could such a small delay make such a big difference? One of the main goals behind the huge amendment to the bankruptcy law in 2005 was to force more people to pay a portion […]
Married Couples’ Protection from the IRS under Chapter 7 and Chapter 13
Filing bankruptcy with or without your spouse, and under Chapter 7 or Chapter 13, may affect what protections you each receive.
Stepping Over the “Means Test” Hurdle Without Breaking Your Stride
Are you among the large majority of people whose income easily qualifies them for Chapter 7 “straight bankruptcy”? You can find out right here and now. As you’ve likely heard, a few years ago Congress passed a major set of changes to the bankruptcy laws intended to make it harder for some people to file […]
The Discharge of Debts for Married Couples in Chapter 7 and Chapter 13
Filing bankruptcy with or without your spouse affects the discharge of debts you each receive, and also affects whether you file under Chapter 7 or 13.