Some debts are treated differently than others when it comes to the means test.  Good thing, too.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 28, 2013 Better Place Runs Out of Juice, Reportedly Plans Bankruptcy What Better Place’s bankruptcy tells us about the future of electric cars Highway Technologies closes doors; files for bankruptcy protection

A Dallas, Texas woman who filed multiple bankruptcy filings was recently charged with fraud.  Estela Martinez, 53, reportedly filed for bankruptcy at least six times in four years.  After multiple attempts at filing her activity was noticed by federal officials who brought bankruptcy fraud charges against her. Martinez filed for bankruptcy six times between 2009 [...]

As many consumers in Oregon and Washington are now painfully aware, debt buyers often purchase severely flawed claims. The FTC has determined that the information that debt buyers receive when they purchase debts, which is the only information they have to rely on in collecting, is often woefully inadequate. This often results in debt buyers suing the wrong Oregon or Washington consumer, or for the wrong amount, or on a debt that has long since been barred by the applicable statute of limitations.

Written by: Robert DeMarco

Even if your income is above the applicable median family income, you may still qualify for Chapter 7 bankruptcy.
You’ve done the means test.

More and more I am seeing both Washington and Oregon consumers forced into bankruptcy as a result of Yo-Yo financing schemes utilized by local car dealerships. Often the consumer has no idea that the practice was intentional.

In bankruptcy, spousal income is important. But only some of it.
The part of the bankruptcy process that scares my clients most has nothing to do with them.
It’s got to do with their husband or wife, someone who may not even be filing for bankruptcy.

Once you figure out current monthly income for your means test, you need to match it up to see where you stand.
You’ve completed the first part of the onerous means test for your bankruptcy case.

Income is money that you make. And more.
When we look at the means test, we begin with a discussion of your income averaged out over the past six months.
If you’re married and living together, we look to your spouse’s income as well.