Bankruptcy Law in Shambles (06/05/2006)

[anonymuse]

Not a huge surprise to us:

Bankruptcy Law in Shambles

What happens when the credit card industry writes congressional legislation? According to the judges who have to enforce it, anarchy

By Brian J. Rogal

http://www.inthesetimes.com/site/main/article/2662/

[bankruptcymill]

Most BR judges and trustees r lazy

If this "judge" felt so strongly about his beleif he should have struck the statute down or read a little further in the particular statute he was refering to or turned the page to the statute 11 U.S.C. 707 that says the court may dismiss a case only after notice and hearing and only for cause pr... However, most BR Judges have little common sense and poor legal aptitude and just want a title and to collect a big fat government check and do as little work as possible just like the U.S. Trustees. Totally corrupt system and by the way if you want to file for chapter seven go to the trustees website and hire one to represnt you!!! no kidding totaly corrupt system from the top down.

[CATCHMEIFYOUCAN]

[anonymuse]

One intention of the means test was to stop that low percentage of abusive filers--someone that makes $100K a year and wants a Ch 7, not someone at the poverty level. But it really didn't end up working that way.

Secondly, it was to get anyone with more than $100 disposable income or more into a repayment plan so that some percentage of unsecured creditors would get paid.

I'm not exactly sure what they did instead of the means test prior to the new law change. However, they were attempting to put everyone on a level playing field by using national and local standards for expenses. But they still gave you the opportunity to adjust those expenses if they were true and could be documented.

The means test is there to rule out abusive filings, but it really does come down to your true income and expenses to decide how much disposable income you have available for payback.

We're coming up on the one year anniversary of the law changes, I would anticipate a lot of reports coming out. In Colorado, they been showing a lot of interim reports and after the first few months after the new laws, the percentage filing 7 vs 13 was the same. Credit counseling was not deferring people away from filing since its usually too late by the time they seek it.

[xuanlu425]

Angelling

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