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Craig D. Robins, Esq. New York Bankruptcy Attorney, Longisland bankruptcy attorney

“ Craig D. Robins, Esq., has been a practicing Long Island bankruptcy attorney for over twenty-four years ”

Craig D. Robins, Esq.

The Means Test is Often the Key to a Successful Chapter 7 Bankruptcy Case

Posted on Monday (August 3, 2009) at 3:15 pm to Bankruptcy Means Test
Chapter 7 Bankruptcy
Issues Involving New Bankruptcy Laws

The means test is the key to a successful Chapter 7 bankruptcy filingWritten by Craig D. Robins, Esq.
 
Since the bankruptcy laws were changed in 2005, Chapter 7 eligibility is no longer guaranteed.  Debtors must demonstrate that they are qualified to file a Chapter 7 petition by showing that they pass the means test.
 
The means test is a comprehensive, extremely complex series of calculations that the federal government designed to ascertain whether a consumer qualifies for Chapter 7 filing.  This is the first item the Office of the United States Trustee will look at when reviewing a new case, and it is usually the first thing a Chapter 7 trustee will look at as well.
 
Having experienced bankruptcy counsel to prepare the means test may make the difference between passing it or failing it.  An experienced bankruptcy attorney will know what expenses and deductions are permissible and where the bankruptcy court stands with interpreting the means test law.
 
To date, there have been hundreds of bankruptcy court decisions from around the country, written in the past three years, analyzing the 2005 Bankruptcy Amendment Act.  These cases state how the law should be applied in ascertaining if a debtor has completed the means test properly.  Obviously, it can be critical for bankruptcy counsel to know the current state of the law when analyzing a client’s case.
 
The attorneys in my firm regularly review the latest bankruptcy court decisions.  I have written extensively about many of these cutting edge cases on this blog.  When choosing a New York bankruptcy attorney, consider one who has the experience necessary to ensure that the means test is done right.
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Craig D. Robins, Esq. is a Long Island bankruptcy lawyer, who is focused primarily on helping individuals and families, find solutions to their debt problems. Read more »

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