In another strenous decision, the Ninth Circuit BAP also held that debtors are not allowed to deduct secured payments on Form B22’s projected disposable income test to determine the amount paid to unsecured creditors, when the property in question is being surrendered. To read more about the ramifications of failing to object, please click my National Blog Here.
Written by Michael G. Doan
In a strenous decision, the Ninth Circuit BAP recently held that debtors are not allowed to deduct secured payments on Form B22’s projected disposable income test to determine the amount paid to unsecured creditors. To read more about the ramifications of failing to object, please click my National Blog Here.
Written by Michael G. Doan
On August 14, 2009, the Ninth Circuit issued its decision in the Ransom case, denying ownership deductions on the means test to debtors who have vehicles but no vehicle payments. Nevertheless, such an adverse decision can usually be circumvented by most competent bankruptcy attorneys. To read more about this decision, please click my National Blog Here.
Written by Michael G. Doan
Recently, the San Diego Bankruptcy Court allowed debtors with income of $14,500 per month and over $8000.00 in housing expenses related to their “McMansion” to receive a chapter 7 discharge. To read more about this amazing result and see if you qualify, please visit my National Blog here.
Written by Michael G. Doan
Clients are often confused as to exactly how much money they need to pay into their chapter 13 plan before they receive a discharge, and for good reason.
Calculating the total “pot” that needs to be paid in the chapter 13 plan for discharge involves many different variables:Type of Debt in the Bankruptcy, Results of the Artificial B22 Income Calculation, Actual Comparison of Income vs Expenses, Objections by the Trustee and Creditors, etc.
To get a better understanding of how these variables play out, please click my National Blog here.
Written by Michael G. Doan
Good news. Legislation enacted December 19, 2008, has recently exempted most National Guard and Military Reserve from the means testing requirements in filing for bankruptcy protection! To read more, please click my National Blog Here.
Written by Michael G. Doan
Recently, the Ninth Circuit Court of Appeals decided Maney v. Kagenveama (In re Kagenveama), 2008 U.S. App. LEXIS 13299 (9th Cir. Ariz. June 23, 2008) which held that if you have projected disposable income under the new bankruptcy laws at $0.00 or less, then you do not need to have a minimum plan length requirement and no disposable income needs to be paid to unsecured creditors. So by using this new artificial test that Congress created under the new laws, its possible to now have shorter chapter 13 plans, lower payments, and quicker discharges! To read more, please click my national blog here. Written by Michael G. Doan
As usual, the Attorney always will say “it depends.” But yes, it is possible. It all depends on the type of debt you have. Generally speaking, debts scheduled in bankruptcy proceedings are either considered consumer debts or non-consumer debts. If you can prove more than ½ your debts are non-consumer debts, it doesn’t matter how much you make! (more…)