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Bankruptcy

: The Debt Podcast

Five Tricks & One Trap For the Bankruptcy Means Test

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An above-median income Chapter 7 debtor must pass the Means Test to avoid a mandatory five year Chapter 13 case. The Means Test takes the debtor’s income, subtracts IRS-allowed expenses and secured debt payments, and forces a Chapter 13 filing if the difference can pay a sufficient amount of debt. Here’s a short [...]

Full post as published by The Debt Podcast on April 11, 2008 (boomark / email).

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