What is the point of this calculation on the means test?
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Take $10 billion from the government and then sue me...nice
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Law, 2005 to see if you are viable for the privilege of bk. Before then, it was kind of an in then out and was too easy for the revolving door person. It supposedly was brought about by those who abused the precess. 'HubOriginally posted by jwmc1 View PostWhat is the point of this calculation on the means test?If I knew it all, would I be here?? Hang in there = Retained attorney 8-06, Filed 12-28-07, Discharge 8-13-08, Finally CLOSED 11-3-09, 3-31-10 AP Dismissed, Informed by incompetent lawyer of CLOSED status, October 14, 2010. -
The Threshold of Debt Payment helps to ensure you can file Ch 7 rather than Ch 13.Originally posted by jwmc1 View PostWhat is the point of this calculation on the means test?
To calculate your Threshold of Debt Payment amount, take your non-priority, unsecured debt (generally credit card debt) and then multiply that amount by 25% - this is the Threshold Debt Payment Amount.
If your Means Test and Schedules' calculated disposable income is less than your Threshold Debt Payment Amount, then you may file for chapter 7 bankruptcy.I am not a lawyer and this is not legal advice nor a statement of the law - only a lawyer can provide those.
06/01/06 - Filed Ch 13
06/28/06 - 341 Meeting
07/18/06 - Confirmation Hearing - not confirmed, 3 objections
10/05/06 - Hearing to resolve 2 trustee objections
01/24/07 - Judge dismisses mortgage company objection
09/27/07 - Confirmed at last!
06/10/11 - Trustee confirms all payments made
08/10/11 - DISCHARGED !
10/02/11 - CASE CLOSED
Countdown: 60 months paid, 0 months to goComment
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