Means Test

News & Analysis as of

Is the Means Test a mean test? Flunking Chapter 7

Hard to believe that we are closing in on ten years since Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). The most significant impact on consumer bankruptcies was the creation of the...more

Closing the Chapter 7 Loophole for High Income Debtors

Heralded by debtor’s attorneys as “a wonderful loophole”1 in the Bankruptcy Code, a debtor who has primarily business, rather than consumer, debts can qualify for a speedy Chapter 7 discharge despite a high earning capacity...more

Two Hurdles to Chapter 7 Bankruptcy

Most people I meet with to discuss bankruptcy want to file a chapter 7 bankruptcy. They may not know exactly what a chapter 7 is, but they want their debt to go away and go away and quickly as possible. Chapter 7 bankruptcy...more

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