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Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
Thus, the means test is a formula designed to keep filers with higher incomes from filing for Chapter 7 bankruptcy. These filers may use Chapter 13 bankruptcy to repay a portion of their debts, but may not use Chapter 7 to wipe out their debts altogether. [8] The bankruptcy means test is complex and the terms that govern many parts of it ...
The means test was intended to make it more difficult for a significant number of financially distressed individual debtors whose debts are primarily consumer debts to qualify for relief under Chapter 7 of the Bankruptcy Code. The "means test" is employed in cases where an individual with primarily consumer debts has more than the average ...
A Chapter 13 debtor who owns a car, but does not make loan or lease payments on it, may not take the car-ownership income allowance set forth in the Internal Revenue Service's National Standards, when calculating the means test set forth at 11 U.S.C. § 707(b). Ninth Circuit affirmed. Court membership; Chief Justice John Roberts Associate Justices
7. Comfy, loose-fitting clothing, like sweatsuits, slip-on shirts, night gowns, bathrobes and lace-free shoes are easy to throw on, remove and wash. 8. Framed photos or collages with the names of ...
From May 2012 to December 2012, if you bought shares in companies when Jorge S. Mesquita joined the board, and sold them when he left, you would have a -33.7 percent return on your investment, compared to a 8.1 percent return from the S&P 500.
Three dogs attacked their owner at a San Diego park Friday, killing the man and injuring another person, according to authorities and the Humane Society.
To exempt for an additional 4-year period, from the application of the means-test presumption of abuse under chapter 7, qualifying members of reserve components of the Armed Forces and members of the National Guard who, after September 11, 2001, are called to active duty or to perform a homeland defense activity for not less than 90 days. H.R. 1734
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