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Bankruptcy

: The Debt Podcast

What is calculated in ?gross income? for the Means Test

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When Congress passed the ‘new’ bankruptcy law in 2005, it included a provision that Debtors must prepare and file what is called the Means Test.   It looks at all of your income from every source except Social Security benefits.  If your income exceeds a certain amount (less allowed expenses) a presumption arises and you are not [...]

Full post as published by The Debt Podcast on August 22, 2009 (boomark / email).

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