Bankruptcy

A Quick, Easy Way to Flunk the Chapter 7 Bankruptcy Means Test! While You Flunk the Regular Income Requirement of Chapter 13! TWO at Once!

By Joseph McDaniel, Esq.

So when you're trying to mess up your ability to file a Chapter 7 Bankruptcy, because you flunk the means test, I don't want you to have to work too hard.

Some people have zero income from work, and should be ezee-peezie to file in a Chapter 7.

But because they sucked too much dough out of a 401(k), they now flunk the means test, and now CANNOT file a Chapter 7 for six months after the month in which they pulled out the big chunk of dough from their 401(k)!

But wait! There's more! Not only is it impossible for them to file a Chapter 7, they can't even file for a horrifying five-year payment plan under Chapter 13, because they have no regular income!

Pretty cute, huh? And best of all, messing up their ability to file EITHER a Chapter 7 or a Chapter 13 took very little work!

And I'm all for efficiency, and ease of use!

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 March 26, 2010 (boomark / email).