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What is the Means Test?

Posted on June 9, 2008 by Mark Neis, Topeka Consumer Bankruptcy Attorney

Among the major tweaks in the 2005 bankruptcy law revision is the so-called means test. Simply put, all consumer debtors must compare household income to their statewide median income of households of similar size. NOTE: debtors with business debts ARE NOT subject to the means test.
United States Code §707 (b) (2) (A) (i) (I) and [...]

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in Kansas Bankruptcy News.

History of BAPCPA: Special Interest Legislation at Its Worst

Posted on June 4, 2008 by Mark Neis, Topeka Consumer Bankruptcy Attorney

BAPCPA (Bankruptcy Abuse Prevention And Consumer Protection Act Of 2005) has been characterized as among the best (or worst depending on point of view) examples of special interest federal legislation ever passed by Congress. The act’s history is important:
Under pressure from creditor lobbying efforts, Congress and the Clinton administration in 1994 funded a bi-partisan [...]

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in Bankruptcy Legislation.