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What tests can be used to dismiss a bankruptcy petition?
The tests that may be used by the Bankruptcy Court in dismissing a petition for abuse include a median income test and a means test.
What is presumed abuse under 11 usc 707 b2?
A statement of presumed abuse indicates that the bankruptcy court has determined that the bankruptcy petition has sufficient grounds to be dismissed. The statement should contain the reason why, i.e. the debtor's monthly income exceeds the amount permitted.
What is the that no presumption of abuse has arisen under 11usc707?
Under 11 U.S.C. § 707, there is no presumption of abuse in Chapter 7 bankruptcy cases when the debtor's income is below the median income for their state. This means that if a debtor's income falls within a certain threshold, the court typically assumes that filing for bankruptcy is not an abuse of the system. Additionally, the absence of presumption allows for a simpler process for individuals seeking relief under Chapter 7, as they are not subjected to further scrutiny regarding their financial situation. Ultimately, this provision aims to provide a safety net for those genuinely in need of bankruptcy protection.
Can chapter 7 be dismissed for abuse if your house was refinanced for a large amount of over 100000 borrowed over original purchase amount three years before claiming bankruptcy?
Maybe, but unlikely...the basic Q is was it done in anticipation of bankruptcy.
What is in Chapter 7 of the US Courts?
Chapter 7 in the U.S. Courts is about liquidation under the bankruptcy code. The chapter includes information about unsecured debts, charging a fee for converting and determine whether a presumption of abuse arises.
Who do you mail a petition to?
It would depend what the petition was regarding... If it was to stop animal abuse, you would send it to the people responsible for the abuse.
Is there a 180 day bar to filing a ch 7 after a ch 13 case was dismissed?
Yes, there is a 180-day bar to filing a Chapter 7 bankruptcy after a Chapter 13 case is dismissed if the dismissal was due to the debtor's failure to comply with court orders or if the debtor voluntarily dismissed the case after a creditor filed a motion for relief from stay. This rule is intended to prevent abuse of the bankruptcy system. If the dismissal was not due to these reasons, the debtor may be able to file for Chapter 7 without the waiting period. Always consult with a bankruptcy attorney for specific guidance related to individual circumstances.
When did the time limit for a chapter 7 bankruptcy change from 8 years to 10 years and is a bankruptcy petitioner protected by a grandfather clause if they filed before the change?
The length of time a discharged 7 or 13 bankruptcy can remain on a credit report has always been 10 years. A dismissed chapter 13 remains for 7 years a dismissed chapter 7 remains for 10 years. Therefore, no type of clause applies because the requirement has never changed. Bankruptcy laws and credit reporting laws are two entirely different issues.
When did Congress last update the bankruptcy laws?
In 2005 the U.S. Congress enacted profound changes to the Bankruptcy Reform Act of 1978. Known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005,
When did the bankruptcy rules change?
There are some new laws that deal with bankruptcy that were passed in 2005. The change the way that one has to go about declaring bankruptcy and how it should be solved.
The Bankruptcy Abuse and Prevention and Consumer Protection Act limited the number of debtors who could declare which type of bankruptcy?
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 primarily limited the number of debtors who could declare Chapter 7 bankruptcy. The act introduced a means test to determine eligibility, making it more difficult for higher-income individuals to file for Chapter 7 and forcing many to seek Chapter 13 bankruptcy instead. This shift aimed to reduce perceived abuses in the bankruptcy system and encourage debtors to repay a portion of their debts.
Can a 17 year old girl get emancipated in kansas without her mother's permission if there is mental abuse and slight physical abuse?
No a petition can be filed on the behalf of the individual since she's a minor.
