Posted By Oakland Bankruptcy Lawyer
There is no question that the emotional and psychological effects of debt can be devastating and impact numerous aspects of a debtor's life. Debt can affect your ability to have a nice dinner with friends to your ability to go on a much needed vacation or pay for everyday living expenses. Having too much debt can take the joy out of living. Given the economic downturn that has impacted ...
Posted By Oakland Bankruptcy Attorney
Section 707(b)(2) of the Bankruptcy Code applies what is called a "means test" to determine whether a debtor's filing of a Chapter 7 would be presumed an abuse of the Bankruptcy Code, thereby requiring a conversion of the case to a Chapter 13. Essentially, the "means test" was created to determine whether a debtor's income is low enough to qualify for a Chapter 7 ...