Bankruptcy

The Means Test: Part 6,374

By Joseph McDaniel, Esq.

And by the way, I'll come back to this post and beat it up a lot more; it's just that contemplating the means test depresses me, because all of you paid for the drafting of it with your tax dollars, and it doesn't help you at all.

It doesn't even help the banks, who lobbied for about a decade to get it; according to a report published by the government, the 2005 Amendments don't make for more filing of Chapter 13 cases, and higher payments to creditors. They just make the bankruptcy process more expensive and difficult and time-consuming.

Who would have thunk it?

But back to today's topic: when you're first taking paper, pencil, and pocket calculator to the six month rolling lookback which is the means test, ask yourself, Do you feel lucky?

Just kidding.

Ask yourself, do I get paid twice a month, or every two weeks? Makes a difference.

NOTHING HERE CONSTITUTES LEGAL ADVICE RE A CHAPTER 7, CHAPTER 13, CHAPTER 11, OR CHAPTER 12. FIND AN ARIZONA BANKRUPTCY LAWYER WHO IS BOARD CERTIFIED IN BANKRUPTCY LAW, AV RATED, AVVO 10 RATED, ON SUPERLAWYERS, OR JUST VERY EXPERIENCED AND A FORMER CHAIR OF SOME BANKRUPTCY SECTION OR COMMITTEE. NOTHING HERE MAY BE USED AS LEGAL ADVICE IN CONNECTION WITH ANY BANKRUPTCY, WHETHER THAT BANKRUPTCY IS IN PHOENIX, GLENDALE, TEMPE, MESA, SCOTTSDALE, OR ANYWHERE ELSE.

Full post as published by Arizona Bankruptcy Attorney Blog on December 31, 2009 (boomark / email).