We watched the arguments before the U.S. Supreme Court in Washington, D.C., yesterday in the bankruptcy case of Hamilton v. Lanning. We are not involved in this case. We attended as observers. The case deals with the formula for determining how much a debtor has to pay her general creditors in a chapter 13 bankruptcy…
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Tag Archive: disposable income
Bankruptcy Means Test Meaner as Family Incomes Drop
As the economy worsens, unemployment rises and family incomes are dropping, getting bankruptcy help gets a little tougher. The bankruptcy income guidelines go down a few hundred dollars for Kansas cases filed on or after March 15, 2010. While this change probably won’t disqualify many debtors, the downward trend is disturbing and more evidence the…
401(k) Withdrawal Is Income for Means Test
401(K) DISBURSEMENT PRE PETITION IS CURRENT MONTHLY INCOME BUT NOT PROJECTED DISPOSBLE INCOME In re DeThample, Case No 07-11829 July 5, 2008, Judge Nugent Under 1325(b)(1)(B), a singular, one time disbursement is “income” for purposes of determining Current Monthly Income (CMI), but followed Judge Karlin’s Lanning decision in determining what constituted Projected Disposable Income (PDI)….
Means Test Form Controls Unless Significant Changes in Circumstances
B22C CONTROLS UNLESS SIGNIFICANT CHANGES IN CIRCUMSTANCES In re Lanning, Case No. 06-41037 May 2007, Judge Karlin Over the Chapter 13 Trustee’s objection, the Court confirmed the plan because of significant changes in circumstances at the time of filing that caused Line 58 on B22C to be higher than what the debtor could afford to…
How Long Does Chapter 13 Last if My Income is Below Median?
BELOW MEDIAN MUST RUN 36 MONTHS, B22C IS TEMPORAL In re Daniel, Case No. 06-20714 December 2006, Judge Somers In a Below Median case, debtor’s income is determined by B22C and expenses by Schedule J and must “run” for 36 months (The Applicable Commitment Period) or pay 100% of all allowed unsecured claims. B22C is…
My Income Is Below Median, How Long Do I Pay My Chapter 13 Payments?
BELOW THE LINE DEBTOR MUST RUN 36 MONTHS In re Pohl, Case No. 06-41236 May 2007, Judge Karlin The Court determined that a below the line debtor’s case must “run” 36 months, unless it pays off all claims in full, citing 1325(b)(4). Below the line disposable income determined by Schedule J, since the bottom half…
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Jill Michaux & Mark Neis
Attorneys at Law
Bankruptcy Law Office
Neis & Michaux, P.A.
825 Bank of America Tower
534 S. Kansas Ave., Ste. 825
Topeka, KS 66603-3446
T: 785-354-1471
F: 785-354-1170
Email: lawyers@neismichaux.com Website: www.neismichaux.com
Board Certified in
Consumer Bankruptcy Law
by the American Board of
Certification -
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